Coinbase Booked $1b in 2017 Revenue

Despite huge revenue, company remains closed and doesn't allow to sell its shares on the secondary market
23 January 2018   545

The largest American cryptocurrency exchange, Coinbase, has earned $ 1 billion in 2017, which is 66% higher than the expected revenue of $ 600 million, Recode reports referring to "sources from the industry." According to the information of the portal, despite the growing interest from outside, the company remains closed and does not allow trading its shares on the secondary market.

Coinbase faced a real wave of new users in 2017 due to Bitcoin price jump. After the announcement of the bitcoin futures launch in November, 100,000 users registered at Coinbase in 24 hours.

Although the growth of bitcoin was replaced by a recession at the end of last year, this did not prevent Coinbase from demonstrating record profitability, secured by huge profits due to transactions carried out on its platform.

The success of Coinbase did not go unnoticed among investors and venture capitalists. According to Recode, interested parties are trying to get a stake in the company in various ways, but Coinbase told its shareholders not to sell their shares to third parties.

As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market. We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so.
 

Coinbase

Such activities will be considered a violation of the company's policies, said a representative of Coinbase in a conversation with Recode.

New York Attorney General Quit, Accused by 4 Women

Eric Schneiderman is known in cryptocurrency world as a person that send request to 13 cryptocurrency exchanges
08 May 2018   237

The Attorney General of New York State and the well-known opponent of the Trump Administration, Eric Schneiderman, left his, after The New Yorker reported that he was accused of attacking four women. This writes The New York Times.

It’s been my great honor and privilege to serve as attorney general for the people of the State of New York. In the last several hours, serious allegations, which I strongly contest, have been made against me. While these allegations are unrelated to my professional conduct or the operations of the office, they will effectively prevent me from leading the office’s work at this critical time. I therefore resign my office, effective at the close of business on May 8, 2018.
 

Eric Schneiderman

Ex Attornet General, New York

As reported by The New Yorker, two women said that Schneiderman strangled and beat them from time to time; they had to seek medical help. The third alleged victim reported that he "released her cruel slaps." The fourth shared similar experiences.

All victims were with Schneiderman in a romantic relationship and said that he showed cruelty in their attitude without mutual consent.

In mid-April, Schneiderman sent inquiries to 13 exchanges of cryptocurrencies and asked them to fill out a questionnaire that required information on "operations, the use of trading bots, conflicts of interest, work stops and other key points."

Many exchanges supported the initiative of the prosecutor, and Coinbase even disclosed some of the information in public. At the same time, the Kraken exchange refused to respond to the request, arguing that it was unwilling to support inadequate regulation of the New York-based cryptocurrency area.