All posts tagged: Coinbase

Coinbase to lay off 14 percent of workforce over AI concerns

Coinbase to lay off 14 percent of workforce over AI concerns

Published by skeptic

Crypto exchange Coinbase is laying off 14 percent of its workforce. The decision has been made public by CEO Brian Armstrong. In a post on X, he explained that the layoffs are mainly due to two concerns: Bear market, and AI. “Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm,” he wrote. “However, our business is still volatile from quarter to quarter […] we’re currently in a down market and need to adjust our cost structure.” Mashable Light Speed Cryptocurrencies, including Bitcoin and Ethereum, are currently recovering after a sharp downturn that started late last year. The price of Bitcoin is currently at about $81,400, down from its highs of about $127,000 in August 2025. This Tweet is currently unavailable. It might be loading or has been removed. Armstrong also explained that AI is changing how the company works. “Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks (…) all of this has led us to an inflection point, …

New York lawsuits target prediction market giants Coinbase and Gemini in major showdown

New York lawsuits target prediction market giants Coinbase and Gemini in major showdown

Published by skeptic

New York Attorney General Letitia James has opened what may become one of the biggest state fights yet over prediction markets, suing Coinbase and Gemini and accusing both companies of running illegal online gambling operations. The paired cases were filed in New York Supreme Court and ask judges for heavy financial penalties that could ripple across a fast-growing corner of crypto finance. State lawyers say residents were allowed to stake money on sports, elections, and entertainment results without the gaming licenses New York requires for legal wagering. In the attorney general’s view, calling those products market contracts does not change what they are. .@Gemini and @coinbase's so-called prediction markets are just illegal gambling operations that expose young people to addictive platforms. Gambling by another name is still gambling. I'm suing to stop these platforms from breaking the law.https://t.co/DosDKe2un1 — NY AG James (@NewYorkStateAG) April 21, 2026 James said the companies cannot sidestep gambling law by changing labels, and that “New Yorkers deserve the protections that come with legal, regulated gaming.” Her office said it wants …

New York lawsuit says Stake and Coinbase targeted child gambler for years

New York lawsuit says Stake and Coinbase targeted child gambler for years

Published by skeptic

A New York resident identified as John Doe has sued Stake.com, Stake.us, Coinbase and related companies in New York State Supreme Court, accusing them of helping run years of illegal online gambling that he says started when he was still a child. The case was filed in Manhattan. It says the plaintiff began using the defendants’ platforms while underage, kept gambling for years, and suffered serious financial and emotional fallout. “This case is about the promotion and operation of an illegal offshore gambling platform, Stake.com, to target and acquire minor users, including Plaintiff,” the filing states. Seeger Weiss has filed a new lawsuit against Stake . com and Coinbase, alleging the defendants recruited and enabled a 12-year-old into illegal offshore gambling. Learn more: https://t.co/msZMzb6sB5 Attorney Advertising#OffshoreGambling #CryptoGambling #SeegerWeiss pic.twitter.com/2rRieNaZKM — Seeger Weiss LLP (@SeegerWeiss) April 15, 2026 According to the complaint, the plaintiff says he used Stake.com and Primedice from ages 13 through 19. He says he lost his own savings, then turned to his father’s credit card without permission after running out of money. …

Coinbase Exec Says Senate CLARITY Act Deal On Stablecoin Yield “Very Close”

Coinbase Exec Says Senate CLARITY Act Deal On Stablecoin Yield “Very Close”

Published by Jenni Sidey

Authored by Amin Haqshanas via CoinTelegraph.com, Coinbase chief legal officer Paul Grewal said the US Digital Asset Market Clarity Act is “moving toward” a markup hearing in the US Senate Banking Committee and could eventually move to a floor vote if senators resolve the stablecoin yield dispute and schedule a markup. Speaking in a Wednesday interview on Fox Business, Grewal said lawmakers are nearing agreement on core elements of the crypto market structure bill, even as debate continues over stablecoin yield. “I think we’re very close to a deal,” he said. The remarks point to possible movement on one of the last major sticking points in Senate talks over crypto market structure legislation: whether stablecoin issuers or platforms should be allowed to offer yield or similar rewards. The dispute has helped delay a Senate Banking Committee markup, leaving the broader effort to set federal rules for digital asset oversight still unresolved. US banks have pushed for restrictions, arguing that such incentives could draw deposits away from traditional institutions and disrupt the banking system. Grewal pushed back on …

Tesla’s head of customer experience leaves for Coinbase as talent exodus grows

Tesla’s head of customer experience leaves for Coinbase as talent exodus grows

Published by skeptic

Tesla (TSLA) has lost another senior leader as Jose del Corral, the automaker’s head of product for customer experience, announced today that he is leaving after almost eight years to join Coinbase. Del Corral’s departure lands on the same day as yet another Cybercab production leader’s exit, extending a talent drain that has now stripped Tesla of institutional knowledge across virtually every critical function of the business. Del Corral joins Coinbase to lead customer experience Del Corral announced his move on X, writing that he will lead customer experience at the crypto exchange. He called Coinbase one of “very few companies” with the chance to “help rebuild the financial system from the ground up.” During his nearly eight years at Tesla, del Corral rose from senior manager of digital experience to head of product for the automaker’s entire customer experience operation. His scope covered the digital touchpoints — app, web, and in-store — that Tesla relies on more heavily than any traditional automaker because it sells directly to consumers without a dealer network. Advertisement – …

Detroit moves toward opposing prediction markets in Coinbase federal lawsuit

Detroit moves toward opposing prediction markets in Coinbase federal lawsuit

Published by skeptic

A federal judge has approved a procedural agreement in the ongoing dispute between Coinbase and Michigan regulators. This clears the way for Detroit to become the first U.S. city to formally challenge sports-related prediction markets in court. In a March 26 order, Shalina D. Kumar of the United States District Court for the Eastern District of Michigan signed off on a stipulation jointly submitted by Coinbase Financial Markets Inc. and state officials. The agreement resolves a dispute over recent filings tied to Coinbase’s request for a preliminary injunction and sets a revised schedule for additional briefs. Detroit looks to file an amicus curiae brief Potentially the biggest development in the latest order is Detroit’s planned involvement in the case. City officials approached both parties seeking permission to file an amicus curiae brief, a filing that allows a non-party to offer the court additional context, expertise, or legal arguments. Both sides agreed to the request, and the court’s order allows Detroit to submit its brief by April 3. If the city ultimately argues against prediction markets, …

Coinbase & Stripe Build AI Agents to Pay and Buy Online

Coinbase & Stripe Build AI Agents to Pay and Buy Online

Published by skeptic

Coinbase, Stripe, and Cloudflare are leading the charge in building the “agent web,” a digital ecosystem designed for autonomous AI agents to operate independently. As explained by Nate Jones, this emerging framework shifts the focus from human-centric interactions to machine-to-machine communication, allowing AI agents to transact, execute tasks, and communicate without human oversight. Key components such as APIs, tokenized payments, and agent-readable content form the backbone of this infrastructure, allowing agents to function as independent economic entities within a secure and structured environment. In this feature, you’ll explore how companies like Coinbase are allowing autonomous cryptocurrency transactions, while Stripe is addressing fraud risks in agent-driven payments. You’ll also learn about Cloudflare’s efforts to optimize websites for AI agents and the broader implications of these advancements for the digital economy. By understanding these developments, you can better grasp the opportunities and challenges posed by this shift, from unlocking new workflows to addressing critical concerns around security and trust. The Rise of Agent Web TL;DR Key Takeaways : The “agent web” is a new digital ecosystem designed …

Federal judge shuts down Coinbase bid to block Nevada gambling enforcement

Federal judge shuts down Coinbase bid to block Nevada gambling enforcement

Published by skeptic

A federal judge in Nevada has shut down Coinbase Financial Markets Inc.’s last-ditch effort to stop state gambling regulators from cracking down on its event-based trading products, clearing the way for the case to continue in state court. In a February 7 order, U.S. District Judge Cristina D. Silva denied Coinbase’s request for a temporary restraining order and a preliminary injunction. She also dismissed the company’s federal lawsuit without prejudice, ending the case and sending the dispute back where it started. That leaves Coinbase facing an active civil enforcement action in Carson City, brought by the Nevada Gaming Control Board. State regulators allege the company has been offering illegal gambling products in Nevada without the licenses required under state law. Defendants dispute the contracts are ‘paradigmatic swaps.’ They contend Coinbase’s offerings meet the NRS definitions of ‘gaming,’ ‘game,’ ‘sports pool,’ and ‘wager.’ Coinbase vs Aaron D. Ford, et al At issue are event contracts tied to the outcomes of sporting events and other real-world occurrences. Nevada regulators say those contracts function like sports betting and …

Federal judge shuts down Coinbase bid to block Nevada gambling enforcement

Nevada Gaming Control Board files civil enforcement action against Coinbase

Published by skeptic

The Nevada Gaming Control Board (NGCB) has filed a civil enforcement action against cryptocurrency exchange Coinbase to restrict what the regulator calls unlicensed wagering in violation of state law. The injunctive action was filed in the District Court for Carson City against the Commodity Futures Trading Commission (CFTC) regulated operator, reinforcing NGBC’s zero tolerance for federally regulated markets. Coinbase is the most recent operator to face NGCB The letter, from the office of Governor Joe Lombardo, is also co-signed by current ranking members Mike Dreitzer, Chair of the NGCB; Judge George Assad (Ret); and Chandeni K. Sendall. “Nevada Gaming Control Board Files Civil Enforcement Action Against Coinbase” Press release from NGCB: pic.twitter.com/mSSN6NlOZO — Daniel Wallach (@WALLACHLEGAL) February 3, 2026 A key part of the NGBC’s pursuit of Coinbase is related to the regulator’s perception that the company “offers products referred to as event contracts for sale on its mobile app, which are made available to people in Nevada. The Board considers offering sports event contracts, or certain other event contracts, to constitute wagering activity under …

Coinbase CEO Brian Armstrong pulls support for Senate’s crypto market structure bill

Coinbase CEO Brian Armstrong pulls support for Senate’s crypto market structure bill

Published by skeptic

The Coinbase CEO, Brian Armstrong, has made his feelings known on the Senate’s crypto market structure bill, as he takes to social media to pull his support. “After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written,” he says. It was on Monday (January 12) when draft legislation was finally revealed, with this to create a regulatory framework for cryptocurrency. It was at the start of President Donald Trump’s second term when people stated they were expecting cryptocurrency to be a focus and the industry has since been waiting for legislation to exist. After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: – A defacto ban on tokenized equities– DeFi prohibitions, giving the government unlimited access to your financial… — Brian Armstrong (@brian_armstrong) January 14, 2026 The recently introduced bill aims to clarify crypto tokens as securities or commodities which some would argue would provide clarity for many. However, digging …