Six people are going up against the Treasury Department. Two stories that seem to be different. One very scary example. It all has to do with privacy.
In this edition of CryptoSlate Wrapped Daily, Voyager receives bids from 22 parties interested in purchasing its assets, Algorand upgrades its network mainnet to increase transaction capacity, and much more.
According to a class action lawsuit filed in a Georgia court, the cryptocurrency exchange failed to protect consumers' accounts against theft and hacks, and it is suing for up to $5 million in damages.
Coinbase agreed to a $100 million settlement with a New York state agency on Wednesday. Coinbase is paying a $50 million fine after a New York agency found fault with its crypto platform. It will also invest $50 million into improving its own vetting of customers and transactions.
Coinbase will pay a $50 million fine and invest a further $50 million into strengthening internal compliance programs after regulators found that Coinbase had failed to thoroughly vet new customers.
Employees and supporters of Coinbase pop the corks on bottles of champagne at the Nasdaq MarketSite where the Coinbase logo is displayed in New York City on April 14, 2021. Coinbase agreed to pay a New York regulator $50 million on Wednesday. File Photo by John Angelillo/UPI | License Photo.
Coinbase, which posted a loss of $545 million in its most recent quarter, also agreed to invest an additional $50 million to help bolster compliance over the next two years with a plan approved by state regulators, the department said.
shorts Coinbase agreed to pay a $50 million fine to the New York State Department of Financial Services as well as $50 million ...
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Coinbase crypto exchange settles with New York state financial regulator for $100 million, stock spikes. Fed says FTX Collapse ...
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