Coinbase Acquires Decentralized Crypto Wallet

Cipher Browser is the full-featured mobile dapp browser and wallet for the Ethereum blockchain, which allows users to interact with dapps powered by Ethereum
16 April 2018   911

A week ago we have reported about the launch of Coinbase Ventures, whose goal is to help the most compelling companies to flourish. Its focus is on building strong relationships and helping to spur on the development of the ecosystem. It has emerged that Coinbase is going to buy the open source, decentralized application and wallet, Cipher Browser.

Coinbase and CipherCoinbase and Cipher

Cipher Browser is the full-featured mobile dapp browser and wallet for the Ethereum blockchain, which allows users to interact with dapps powered by Ethereum on mobile devices, and makes it easy to securely store, send and receive Ether and ERC20 tokens.

Both companies are committed to building the best Web 3 experience on mobile, as the Cipher Browser stated. 

Previously we have reported that Coinbase announced that in the coming months it will provide its users with the opportunity to withdraw coins that appeared as a result of the forks of the Bitcoin network.

Lawsuit Against Coinbase to Details BCH Insider Trading

The plaintiffs argue that the exchange intentionally created the conditions for BCH pumps
22 November 2018   337

On Tuesday, November 20, a supplemented class action was filed with the federal district court of the Northern District of California against the largest US cryptocurrency company Coinbase, which contains data on the “false” statements of the latter when listing Bitcoin Cash in December 2017 and other details of probable insider trading, reported by CoinDesk.

The plaintiffs argue that the exchange intentionally created the conditions for Bitcoin Cash's pumps and allowed a limited number of traders to sell at the best price.

As a consequence of this scheme, the Individual Defendants and Coinbase enabled Coinbase to earn significant fees from the trades of its customers, from which Coinbase earned a spread over an inflated price for BCH, and to avoid a ‘run’ on the Company by sellers anxious to take advantage of the inflated price, by closing down trading within minutes of the Launch to all except certain insiders who were positioned to and did sell BCH at inflated prices during the Launch.
 

Lawsuit

Recall, against the background of listing on Coinbase, the BCH rate in just 48 hours took off by 130% - from $ 1,865 to $ 4,300. Trading was suspended already four minutes after the start.

Then, a Bitcoin enthusiast Albert Renshaw published a deleted correspondence on /r/Coinbase the day before the BCH listing, in which an unknown user mukiva2 warned traders about the upcoming event, citing a source in the company.

At the same time, the internal investigation of Coinbase found no evidence of insider trading, and at the end of October the Federal District Court of the Northern District of California rejected one of the lawsuits against the company [of March 2] due to the absence of legal grounds for its consideration.