ChainCatcher news, cryptocurrency exchange platform Coinbase (COIN.O) announced further restructuring plans, which are expected to be largely completed by the second quarter of 2023, with total restructuring costs estimated between $149 million and $163 million, and will lay off 950 employees. (source link)

ChainCatcher news, according to CoinDesk, Cathie Wood's asset management company Ark Invest has again increased its stake in Coinbase by $5 million. Coinbase's stock price closed down 11.06% at $33.53 on Thursday.According to previous reports, on December 30, a week ago, Ark Invest had also increased its stake in Coinbase by $5 million. (Source link)

ChainCatcher news, according to The New York Times, cryptocurrency exchange platform Coinbase announced a settlement agreement with the New York State Department of Financial Services, agreeing to pay a $50 million fine and committing to invest $50 million to strengthen its compliance program, which is designed to prevent potential wrongdoers from opening accounts in New York State.Previously, the New York State Department of Financial Services found that Coinbase allowed customers to open accounts without sufficient background checks, claiming that this action violated anti-money laundering laws. (Source link)

ChainCatcher news, on-chain analyst Noah tweeted that Genesis deposited 16 million Gala to Coinbase 1 hour ago, worth approximately 2.82 million dollars. The analyst believes that Genesis may be actively addressing Gemini's liquidity issues.According to ChainCatcher previous report, Gemini co-founder wrote to DCG founder, requesting repayment of over 900 million dollars to Earn users. (source link)

ChainCatcher news, Coinbase Assets has added the Magic token MAGIC, Rocket Pool token RPL, and Aragon token ANT to its listing roadmap. Coinbase previously decided to enhance asset transparency by announcing assets that have been decided for listing in advance and moving them to the roadmap. (Source link)

ChainCatcher message, Coinbase will add support for BENQI (QI) on the Avalanche network (ARC-20 Token). If liquidity conditions are met, trading will begin at or after 1:00 AM Beijing time on November 24. If sufficient supply of the asset is established, the QI-USD trading pair will be opened in phases. (Source link)

ChainCatcher news, the Grayscale assets report released by Coinbase shows that the Grayscale Bitcoin Trust (GBTC) holds over 635,000 BTC, currently valued at nearly $10 billion, while the Grayscale Ethereum Trust holds over 3 million ETH, valued at approximately $3.3 billion.In addition, the holdings of BTC and ETH in the Grayscale Digital Large Cap Fund are also relatively small, and this fund does not seem to have a direct connection with Grayscale's other major trust funds. (Source link)

ChainCatcher news, according to CNBC, Cathie Wood has been continuously purchasing digital currency assets this week. On Wednesday, she bought nearly 164,000 shares of Coinbase through her flagship fund ARKK, and subsequently increased her position in another ETF, ARK Fintech Innovation (ARKF), by approximately 82,000 shares of Coinbase. Additionally, she purchased about 141,000 shares of Silvergate Capital. (CNBC)

ChainCatcher news, Coinbase co-founder and CEO Brian Armstrong stated on social media that the FTX incident "stressed me out a lot," and that Coinbase has no substantial contact with FTX or FTT (nor with Alameda). The FTX incident appears to be the result of risky business practices, including conflicts of interest between deeply intertwined entities and the misuse of customer funds (lending out user assets). Coinbase does not engage in such risky activities and will not use customer funds for anything unless instructed by the customer; users can withdraw their money at any time.Brian Armstrong reiterated the importance of compliance and regulation for cryptocurrency exchanges: regulators have focused on their respective domestic markets, while customers have shifted their attention to offshore businesses that are less transparent and carry greater risks. There should be continued collaboration with policymakers to establish reasonable regulations for centralized exchanges/custodians in each market. (Source link)