Despite many controversies, the Coinbase crypto exchange platform continues its operations. Although some investors have pulled out and the SEC continues to charge, the platform is undeterred. It goes even further and now offers new services to American institutions.
Coinbase diversifies its offerings in the United States
The cryptocurrency industry is facing a lot of turbulence. Between the fall of the markets which are gradually recovering and the attacks of the regulators, the companies operating in the field are going through a fairly turbulent period. Although some of them particularly benefit from this state of affairs, the same cannot be said for Coinbase.
Indeed, the crypto society is going through a tough time right now. However, this does not prevent him from continuing his activities. Indeed, in a context of permanent bad news, Coinbase’s announcement gives renewed hope to its users.
The WatcherGuru Twitter account has announcement on August 1 that Coinbase now offers Ethereum staking to US-based institutions. While the US Congress complains about the misuse of electricity from crypto mining, the staking of ETH offered by the exchange platform could be an alternative.
Unlike mining, which requires constant activity, staking limits the use of resources for greater returns. In this sense, the new Coinbase products seem well thought out to obtain the approval of the various groups. However, this does not end the accusations against the company.
The SEC continues its investigation!
The SEC recently opened an investigation against Coinbase. Indeed, the Securities Exchange Commission accused the cryptocurrency exchange of selling unregistered tokens. According to the regulatory body, the company deliberately misled Americans by offering the trading of “ securities not registered with her.
Many altcoins are involved in this insider trading, about 25 in total. Although Coinbase justified itself on its blog, the SEC does not take it far and maintains its accusations. In this sense, one would be tempted to wonder if the Ethereum staking offered by the platform will not create a problem.
According to Michael Saylor, there is a good chance that Ethereum is a “ security “. Indeed, to keep the decentralized side of crypto assets, no one at the Ethereum foundation, including its founders, should be able to change the protocol. Thus, there is a risk that altcoins will go through a bad time. Indeed, other exchanges could de-list them for fear of reprisals from the SEC.
Coinbase continues to operate despite SEC accusations. In its diversification plan, the crypto exchange platform now offers Ethereum staking to institutions in the United States. It only remains to hope that the regulator will not put an end to this relationship which promises to be long term.
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