Tag: Coinbase

New York Sues Coinbase and Gemini Over Prediction Markets

RAA
New York Sues Coinbase and Gemini Over Prediction Markets

New York Attorney General Letitia James has sued Coinbase and Gemini, alleging that their prediction market products constitute illegal gambling under state law. What New York is alleging against Coinbase and Gemini The lawsuit, filed by the New York Attorney General’s office, targets both major crypto exchanges over their event-based prediction market offerings. The state argues these products function as illegal gambling operations rather than legitimate financial instruments. Prediction markets allow users to place wagers on the outcome of real-world events, from election results to economic data releases. New York’s…

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Coinbase suspended Ethereum Classic (ETC) trading after a successful 51% attack

CRYPTO WORLD
Ethereum Classic attack

The cryptocurrency exchange Coinbase suspended the trading of Ethereum Classic (ETC) after double-spend attacks worth $1.1 Million. The cryptocurrency exchange Coinbase has suspended the trading of Ethereum Classic (ETC) after double-spend attacks that consist in spending digital coins twice. Ethereum Classic (ETC) is the original unforked Ethereum blockchain, the attacks resulted in the loss of $1.1 million worth of the digital currency. 51% attack refers to an attack on a blockchain by a group of miners that controls over 50% of the network’s mining hashrate. “On 1/5/2019, Coinbase detected a…

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Coinbase Moves $5 Billion

CRYPTO WORLD
Coinbase Moves $5 Billion

Major cryptocurrency exchange and wallet Coinbase recently made what it claims is the largest transfer of crypto on record, a company blog post reports Dec. 19. According to the post, 5 percent of all Bitcoin (BTC), 8 percent of all Ethereum (ETH), and 25 percent of all Litecoin (LTC), along with “many other assets” were moved to new cold storage infrastructure in what the firm “believe[s] is the largest crypto migration on record.” Coinbase reports that last week, the firm “completed an on-blockchain migration of approximately $5 Billion (as valued…

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