What Happened. Top executives at Cryptocurrency exchange Coinbase sold $1.2 billion worth of the company’s stock between its initial public offering (IPO) and February 2022. Among them were the exchange’s CEO Brian Armstrong, co-founder Fred Ersam, and top executives Emily Choi and Surojit Chatterjee, the Wall Street Journal (WSJ) reported. Armstrong still holds a controlling 59.5 percent stake.
CryptoQuant CEO Ki Young Ju posted a series of posts on Twitter in which he claims that big investors have found ways to continue saving Bitcoins despite rate volatility. According to the CryptoQuant executive, “institutional investors are buying Bitcoins right now through market makers”.
Ontier, a law firm representing Craig Wright, the self-proclaimed “creator of Bitcoin,” filed lawsuits April 29 against trading platforms Coinbase and Kraken. The plaintiffs allege that these and other exchanges encourage traders to trade Bitcoin by passing it off as another digital asset. According to Ontier’s attorneys, the Cryptocurrency known as BTC is really just “Bitcoin core”, and the only Cryptocurrency that has fully implemented the original Bitcoin protocol should be considered a “refined” cryptoasset called BSV (Bitcoin Satoshi Vision).
The largest U.S. cryptocurrency exchange, Coinbase, which recently launched its own trading platform in India, reported pressure from local regulators. Amid the conflict, Coinbase said that some payment services will be suspended.
According to a company blog article, Tree of Alpha reported the vulnerability to the company on the evening of February 11. He wrote that “he urgently needed to talk to Coinbase managers or developers, as the problem could not wait. Exchange specialists contacted the hacker and began work on fixing the vulnerability.