
July 9th, 2025
The move to restrict crypto staking has been seen by many, including Coinbase CEO, as a “terrible path” for the United States.
Leading exchange Coinbase suffered a marked decline in the value of its shares due to an SEC staking action against a rival exchange.
Previously, SEC Chairman Gary Gensler noted that assets that can be staked fall under securities based on the Howey test.
As per the penalty structure for insider trading and wire fraud, Nikhil Wahi could face up to 40 years in prison.
The Coinbase stock has rallied by more than 142% year-to-date as of Thursday’s closing. Stocks of several crypto firms witnessed a healthy recovery last month.
Coinbase recently saw a dismissal of a class action suit brought against it by three aggrieved customers early last year.
This February, Ethereum is reportedly launching Zhejiang, the dress rehearsal testnet for its Shanghai hard fork.
The range of opportunities being seen by these firms as highlighted by Bloomberg transcends digital currency trading.
Major tech firms have also announced varying degrees of job cuts as they continue to adapt to the changing market situations.
American crypto exchange Coinbase plans to protest a weighty fine imposed by the Dutch central bank over “non-compliance” violations.
The firm’s creditors range from tech companies to hoteliers, airlines, and even government-owned entities in the US and foreign countries.
Luno will be discarding 330 people out of about 960 employees.
With over $159 billion quarterly crypto traded volume from more than 108 million verified users, Coinbase has attracted more institutional investors during the 2022 bear market.
Gemini conducted the first round of layoffs back in June 2022. At that time, the exchange cut 10% of its workforce from around 1,100 employees. A few weeks later, Gemini reduced its staff by another 7%, citing “turbulent market conditions.”
Several crypto stocks saw considerable increases in value while others dropped, as the 2023 Bitcoin price rally continued.