
July 10th, 2025
The exit of Jane Street and Jump Crypto will contribute to the liquidity crunch in the market segment and this outlook is unhealthy for the industry.
US District Judge stated that the attempts by the former Coinbase manager and other participants of the case to cover up their scheme indicate that knew their actions were wrong.
Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year.
The SEC served Coinbase with a Wells Notice in March to signal an upcoming enforcement action against the exchange.
According to the chief investment officer at Coinbase, the crypto firm is venturing into the derivatives market in order to better serve the international customer base.
The demise of several United States regional banks including PacWest has come amid the rise of top banks – like Bank of America, and JPMorgan – and Fintechs – like Binance, and Coinbase Global.
While enforcement actions have been a focus for the US SEC in the crypto industry lately, some crypto exchanges are now making efforts to expand into other territories.
The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws.
The Coinbase International Exchange will provide institutional clients outside of the US with BTC and ETH contracts and up to 5x in leverage.
The company has promised its customers that it will be expanding its derivatives offering with additional perpetual contracts, dated futures, and options in the coming weeks.
Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks.
In its response, Coinbase clearly mentioned the exchange has not engaged in any activity that violates federal securities laws. It also slammed the SEC for refusing to engage in a meaningful dialogue on crypto regulations.
Ishan Wahi has cited reasons such as “modest, law-abiding and admirable life” and mental health for the court to consider a jail term no more than 10 months.
Coinbase emphasized that all proceedings related to Stand with Crypto NFT collection launched through ZORA will be donated to vetted organizations.
The issue of unclear guidelines has been a major concern for many other crypto firms in the United States.