COINBASE

SBF Allegedly Used Political Donations to Gain Access to Regulators
The collapse of FTX continues to raise questions about possible regulatory favoritism and political influence. Crypto lawyer John E. Deaton pointed out that Sam Bankman-Fried (SBF), the founder of FTX, donated $10 million to the Biden administration. This donation allegedly helped him gain special access to regulatory agencies like the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC).
This relationship reportedly allowed FTX to operate despite suspicions of fraudulent activity.
Coinbase Demands Answers on SEC Enforcement Spending
SEC Chairman Gary Gensler has aggressively pursued enforcement actions against crypto firms while meeting multiple times with SBF, raising concerns about possible preferential treatment.
In response, Coinbase is pushing for greater transparency on SEC’s enforcement spending, demanding answers on how the agency allocates resources, including its budget, employee hours, and regulatory priorities.

SBF’s Political Donations Opened Doors to Regulators
SBF’s financial contributions allegedly secured frequent meetings with regulators, giving him an unfair advantage over other crypto industry players.
For example, he met several times with CFTC Chairman Rostin Behnam, raising concerns that FTX was receiving special treatment.
Additionally, suspicions grew after Congresswoman Maxine Waters was seen acting unusually friendly toward SBF, further fueling speculation of political favoritism.
Reports also suggest that Gensler met with SBF at least twice, with rumors indicating that they were close to a deal that would have benefited FTX over competitors.
Were Political Donations Funded with Stolen Customer Money?
Another major controversy surrounds the source of funds for SBF’s political contributions. Some reports suggest that the money came from misappropriated customer funds from FTX.
If proven, this would mean that FTX customers unknowingly financed political donations, potentially shielding SBF from stricter regulatory oversight while his exchange operated illegally.
Coinbase Files FOIA Request for SEC Transparency
In response to these concerns, Coinbase has filed a Freedom of Information Act (FOIA) request to obtain detailed records of SEC investigations and lawsuits against crypto firms from April 2021 to January 2025.
This request seeks information on:
SEC employees involved in enforcement actionsWork hours and salariesSEC’s total budget for crypto enforcement
Taxpayers Deserve Answers, Says Coinbase
Coinbase’s Chief Legal Officer, Paul Grewal, stated that taxpayers deserve transparency regarding SEC’s actions against crypto firms.
He emphasized the need to determine whether SEC’s aggressive approach was genuinely aimed at protecting investors or politically motivated.
While SEC has yet to respond to the FOIA request, pressure continues to mount for greater accountability and regulatory transparency.

#SEC , #SBF , #FTX , #coinbase , #CryptoNewss

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Senator Cynthia Lummis is actively working on a bill to create a bitcoin reserve in the U.S. and has scheduled a meeting in Washington on March 11 to discuss the initiative with industry leaders, Bitwise CEO Hunter Horsley told CNBC Fast Money this week. He told CNBC Fast Money this week.

Asked about the seeming lack of movement on the possibility of creating a strategic #bitcoin reserve in the U. S. , Horsley confirmed that the concept is definitely in play.
It's one of the things we need to evaluate. . It was in President Trump's executive order shortly after he took office. It's on the Treasury Department's agenda, Horsley said. Senator Lummis is working on a related bill.
Moreover, on March 11, she will be hosting a meeting where I and many other CEOs will be in Washington, D. C. , to discuss this initiative, he added.
Horsley also noted that various countries are embracing bitcoin, citing the recent purchase of bitcoin by investment firm Mubadala as an example. According to recent SEC filings, Abu Dhabi's sovereign wealth fund invested about $437 million in Blackrock's bitcoin fund, iShares Bitcoin Trust.
According to the Bitwise co-founder, about 11 countries are now using bitcoin to some degree. to some degree. are using bitcoin. This fact confirms the legitimacy of bitcoin as a strategic asset.
Believe it or not, but it is quite real, he said.
Bitcoin's exchange rate has been volatile in recent weeks amid macroeconomic uncertainty. On Thursday, BTC fell below $80000 for the first time since November.
Commenting on bitcoin price volatility, Horsley said it is a well-known feature of #digital assets, but it still surprises people.
He said that historically, the first quarter is the best time for investors to
Mr. Horsley also noted that during this period of bitcoin price volatility, Bitwise has attracted the attention of more traditional investors such as asset managers, wealth managers and banks.
I think price is always the story in this sector.

the US Securities and Exchange Commission recently dismissed enforcement actions against #Coinbase and #Uniswap .

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#DigitalCurrency

These realities have officials talking about the trajectory of bitcoin and its reaction to U.S. market volatility.

So, based on this analogy, if the U. S. market continues to suffer losses, #bitcoin could also fall.
the S&P 500 Index With the decline, the major indexes have lost their post-election gains. They are now at pre-election levels (November 2024). For example, the S&P 500 Index has fallen 45.22 points in the last five days alone.
This trend continues in the overall market. The Nasdaq 100 Index has written off its gains through July 2024, while the S&P 500 Index and the Dow Jones Industrial Average are trading at 4Q 2024 levels. Similarly, the S&P 400 Stock Average has also written off its gains from March 2024 and recently hit a one-year low.
This trend is a result of recently released Consumer Price Index (CPI) data, the FOMC meeting, and political events.
the U. S. overall market is falling. This trend has also had a significant impact on the #cryptocurrency market as the overall US market is falling. This is evident in both bitcoin and altcoins, which have generally suffered heavy losses.
Bitcoin tends to react strongly to the volatility of the US market.
For example, when the S&P 500 index fell 45 points, #BTC also fell, hitting a four-month low. It hit a four-month low. Over the next 24 hours, the S&P 500 recovered 1.59%, and so did bitcoin. However, it's worth noting that on the chart, BTC recovered 6.74% and regained $BTC This correlation arises because of US investors (both institutional and retail). This is evidenced by the fact that the #Coinbase Premium Index is negative and has remained so for the past week.
the decline in the S&P 500 stock index coincides with the weekly decline in the Coinbase index, indicating that American investors, especially institutional investors, are becoming increasingly bearish. Thus, both the stock and cryptocurrency markets are dominated by sellers.
Read us at: Compass Investments

On March 3rd, an anonymous trader made a massive profit of $6.8 million in just 24 hours after executing a 50x leverage trade on Bitcoin (BTC) and Ethereum (ETH) right before President Donald Trump announced the national crypto reserve fund. This trade quickly attracted the community's attention, raising many questions about transparency and the possibility of insider trading.
The fateful 50x long position

WLFi moves $200 million ETH, puts up $60 million ETH as exchange reserves fall - what to expect?WLFi transfers $200M ETH, puts up $60M ETH as exchange reserves fall - what to expect.

Trump-owned WLFi transferred $200M #ETH to #Coinbase Prime and put up $60M ETH on Lido;
ETH exchange reserves hit lowest since January 2024. ETH on Coinbase Prime and put $60 million ETH on Lido;
ETH exchange reserves hit their lowest since January 2024;
ETH Stochastic RSI shows that ETH is trading in an ascending wedge pattern. It appears oversold again during trading, indicating the possibility of an upcoming upside rally.
#Ethereum has seen significant movement with trading on Coinbase Prime and a bid for Lido by President Trump's World Liberty Finance (WLFi) project. There has been a steady influx of ETH over the past week, resulting in large transfers totaling around $260 million.
For comparison, recent transactions include a direct transfer of $200 million of Ethereum to Coinbase Prime. At the same time, another $60 million of Ethereum has been pledged to Lido, demonstrating strategic diversification in blockchain finance and
Ethereum shares have consistently risen from 500 ETH to over 2,000 ETH in just a few days, with the largest inflows coinciding with these large cash transfers.
Such large investments in ETH have been attributed to Trump-related events. Organizations associated with President Trump may indicate a bullish view on cryptocurrencies and anticipate future positive changes in market conditions.
Conversely, the concentration of assets on certain platforms, such as Coinbase and Lido, could lead to potential regulatory oversight and operational vulnerabilities.
Such a large volume of ETH movements could emphasize confidence in the long-term value of assets and anticipate increased betting revenues and an increase in the market price of ETH. It is likely.

Such a sharp decline in exchange reserves is consistent with the trajectory of the falling price.

Read us at: Compass Investments

The alliance aims to provide secure access to open source AI by integrating payment systems, hosting infrastructure and AI technologies, prioritizing user privacy and economic integration.

As the global network continues to shift towards users, we believe that #AI should be available to everyone, says Ilya Polosokin, co-founder of NEAR AI. "Through partnerships with leaders in hosting, privacy and payments, we are building a global decentralized network that will be able to deliver AI services securely, privately and for free to end users.
OAA's structure includes an end-to-end payment solution.
infrastructure components include the NEAR AI developer environment that enables the conversion of fiat funds to #cryptocurrency , and NEAR AI provides #USDC conversion between Base and NEAR platforms, Phala privacy integration, high performance GPU processing with Hyperbolic, Aethir and Akash;
#Coinbase Onramp is evolving as the base component for AI transactions, and AgentKit enables any agent We look forward to contributing to a more accessible and collaborative AI future, said Dan Kim, VP of BD for Coinbase Onramp and Agentkit.
Read us at: Compass Investments