$90,746.00
3.99%$1,691.48
6.02%$2.14
2.62%$608.72
1.52%$144.80
6.64%$0.999949
-0.00%$0.171087
7.91%$0.654182
4.69%$0.246735
1.39%$1,689.15
6.31%$90,715.00
4.05%$21.59
7.10%$13.81
5.14%$8.98
-1.72%$0.257064
1.08%$2.40
9.96%$0.00001303
4.86%$2.98
2.16%$0.176034
4.57%$2,037.39
6.11%$0.999929
-0.00%$358.06
4.12%$82.57
5.00%$18.51
4.85%$3.88
0.97%$4.50
1.35%$1.002
0.20%$0.999719
0.02%$1,699.38
6.44%$0.638155
1.54%$28.50
1.21%$220.58
3.46%$1,809.56
6.45%$90,736.00
4.10%$0.0000084
7.88%$5.59
4.76%$5.09
1.20%$51.72
1.38%$342.16
10.66%$23.56
2.69%$0.890134
5.09%$2.28
1.55%$32.71
0.15%$4.81
-1.24%$1.047
-0.00%$0.089695
9.46%$16.22
2.06%$1.00
0.00%$0.091409
10.32%$4.47
4.68%$0.688877
4.41%$151.74
7.21%$0.02451071
3.14%$1.17
0.04%$4.22
0.60%$0.216137
7.86%$90,527.00
4.26%$4.23
0.03%$8.89
7.70%$0.201603
3.79%$2.60
-1.51%$0.309151
6.49%$2.64
3.31%$0.607798
-2.71%$0.99836
0.22%$0.482385
5.00%$0.308967
1.37%$4.01
3.72%$90,758.00
4.00%$10.04
1.72%$151.66
6.20%$0.425185
7.22%$1,418.10
3.98%$0.712127
-0.49%$0.769748
9.61%$0.073462
2.63%$0.00001408
13.78%$1.078
3.53%$1.056
24.07%$0.01632214
2.21%$0.793625
1.11%$1,694.35
5.98%$0.658335
3.89%$0.544661
13.89%$1,767.93
6.31%$66.23
-0.55%$3.55
-4.95%$0.182541
2.71%$0.677464
14.80%$1.001
0.17%$8.91
2.46%$15.20
6.41%$0.999545
-0.03%$1.002
0.19%$3,402.38
-1.05%$0.087022
3.56%$1.001
0.03%$1,910.43
6.41%$609.56
1.78%$3,404.80
-0.78%$89,390.00
2.47%$90,662.00
3.85%$0.01474783
2.11%$0.01618642
0.81%$2.45
10.27%$159.60
6.53%$0.284576
3.26%$0.11653
8.38%$0.757669
5.15%$185.96
6.57%$0.997936
0.00%$0.179981
6.81%$1,799.25
6.51%$0.65798
1.17%$0.653171
-1.37%$3.56
4.92%$0.999287
0.15%$0.00000062
2.48%$91,171.00
4.99%$1.13
2.61%$0.38235
2.53%$0.0000621
5.72%$30.19
4.25%$0.01780842
2.80%$1.98
0.09%$1.81
9.17%$0.00615856
19.32%$0.303545
-1.46%$0.226707
0.71%$3.41
5.59%$0.434437
2.53%$0.519392
2.60%$1,774.30
5.32%$15.75
5.64%$0.143905
1.48%$0.544678
-0.38%$31.71
-0.61%$0.998885
0.09%$0.00860315
16.32%$0.067653
-0.29%$88,232.00
3.50%$0.469769
7.75%$0.611727
1.68%$0.428935
3.20%$0.99999
0.01%$0.999939
-0.59%$90,716.00
4.25%$1.65
1.47%$88,321.00
0.00%$1.28
4.60%$0.170978
8.16%$0.468257
7.37%$1,764.97
6.04%$0.00002143
3.71%$0.00000043
1.37%$14.77
3.71%$1,697.10
5.16%$0.632584
10.31%$1.96
-9.14%$90,569.00
4.32%$1.084
-0.00%$0.999592
0.12%$110.77
0.02%$5.74
2.58%$0.138369
1.83%$3.58
4.85%$2.40
2.23%$5.86
2.70%$0.478212
0.81%$0.074375
2.01%$0.00603132
20.29%$0.216511
7.96%$1,689.95
6.32%$0.03877306
2.77%$41.31
2.42%$1,690.64
6.10%$0.03669896
3.87%$1.001
0.04%$0.999646
-0.04%$0.078072
-0.20%$21.84
-0.88%$1,690.22
6.43%$1,798.73
6.45%$1.002
0.24%$0.173333
2.06%$0.424694
5.47%$0.00651809
1.37%$0.291836
6.48%$0.00402835
10.97%$0.00006214
0.84%$0.541866
3.29%$0.01718962
1.27%$0.792792
1.78%$1.002
0.33%$1.00
0.04%$0.119676
-2.21%$0.318255
27.61%$0.03147341
1.37%$1,724.35
6.50%$0.315084
3.08%$0.998966
-0.10%$0.116847
32.92%$90,592.00
3.92%$2.58
2.05%$0.137739
-0.94%$109.55
1.24%$25.58
4.75%$3.50
2.51%$0.666929
-7.67%$0.999815
0.03%$0.227223
3.99%$1.13
2.72%$89,829.00
3.43%$1,679.47
6.31%$0.00000133
3.46%$0.00044622
6.25%$3,187.04
0.00%$0.594585
4.11%$0.590937
6.58%$0.266049
-0.03%$2.79
0.83%$21.32
0.98%$0.250517
10.05%$0.03659071
0.33%$0.10832
3.51%$0.179777
2.25%$21.57
6.99%$1,786.64
4.42%$1,691.06
6.01%$1,822.51
4.81%$0.487059
2.63%$0.01224939
3.56%$0.424907
2.64%$0.02839087
1.93%$0.00270502
10.03%$0.701276
4.92%$0.999812
-0.02%$2.85
7.66%$14.24
2.76%$1.00
0.28%$0.891487
5.83%$1.14
-0.68%$2.17
3.32%$90,790.00
3.48%$0.959855
3.60%$1.40
-0.37%$1,854.56
6.37%$1,846.70
6.31%Reading
Role
Co-founder and CEO of Coinbase
Location
San Francisco, California
Education
Rice University
Current Project
Coinbase
Previous Projects
Airbnb, UniversityTutor.com, Deloitte, IBM
Crypto exchange Coinbase is being sued for the unauthorized collection and improper use of customers’ biometric data and for violating Illinois’ Biometric Information Privacy Act, according to a lawsuit filed yesterday with a District Court in California.
Plaintiff Michael Massel is seeking $5,000 in damages for every “intentional and reckless violation” of Illinois’ Biometric Information Privacy Act (BIPA) and a further $1,000 for each other violation his legal team can find.
The suit alleges that Coinbase’s collection of biometric data through its Know Your Customer (KYC) practices—in this case, fingerprints and facial scans—were unlawfully obtained, used, stored and disseminated.
According to BIPA rules, a company wishing to collect biometric data has to inform a person in writing that such data is being obtained, including the specific purpose and length of term for which the data will be stored.
Written consent is also required from the customer and the company has to publish “publicly‐available written retention schedules and guidelines for permanently destroying biometric identifiers and biometric information.”
The suit argues Coinbase does none of the above when collecting customers’ biometric data both before and after creating new accounts.
Cryptocurrency exchange Coinbase took action against the Securities and Exchange Commission (SEC) late Monday, asking a federal court to compel the agency to respond to its demand for clearer crypto regulations. The exchange sent the SEC its so-called “petition for rulemaking” last July, and asked the regulator to propose and adopt rules for digital assets securities. It also sought answers to 50 specific questions that would provide “clarity and certainty regarding the regulatory treatment of d...
According to the suit, Coinbase had no legal right to collect and store the data, so the facial recognition data collected prior to opening an account should have been destroyed after the customers’ accounts were opened, as should the fingerprint data whenever customers log out.
Furthermore, the suit claims that Coinbase collects biometric data to “further enhance Coinbase and its online ‘app-based’ platform” and in doing so, “wrongfully profits” from the data.
Lastly, the suit alleges that Coinbase “disclosed, redisclosed, or otherwise disseminated Plaintiff’s biometric information to numerous third parties including, but not limited to, Jumio Corporation, Onfido, Inc., Au10tix LTD, Solaris AG, and Liquid Co., Ltd.”
Decrypt has reached out to Coinbase for comment and will update this article should we receive a response.
Coinbase is also taking heat from U.S. regulators pursuing what the industry describes as a “regulation-by-enforcement strategy,” whereby agencies such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) prefer to serve up lawsuits and legal threats rather than draft new guidelines for the still-nascent industry.
Earlier this year, the SEC alleged that the staking services offered by exchanges like Kraken and Coinbase were unregistered securities and began a crackdown against them, issuing the former with a $30 million fine and the latter with a Wells Notice.
The hostile climate appears to be driving Coinbase—a publicly traded U.S. company—further offshore.
Coinbase Chief Legal Officer Paul Grewal discussed the "Howey Test," which the SEC uses as its yard stick for whether a crypto asset should be regulated as a security, and told Decrypt's Stacy Elliott and Dan Roberts the issue with it isn't that it's old (the case is from 1946) but how it's being applied to modern technology. Watch and make sure to subscribe to the gm podcast on Apple or Spotify.
Last month the exchange announced it received a license to operate in Bermuda and is in talks with the Financial Services Regulatory Authority (FRSA), a regulator of the Abu Dhabi Global Market (ADGM)—a crypto-friendly free economic zone in the territory of UAE—about the potential of opening a regulated exchange there.
The Full Federal Court of Australia ruled in favor of crypto lender Block Earner on Tuesday, overturning previous findings that its discontinued "Earner" product constituted a regulated financial product requiring licensing. An appeal from the Australian Securities and Investments Commission (ASIC) to impose penalties on Block Earner was dismissed, with the regulator ordered to pay full legal costs, including those incurred from the original trial. With the ruling, the court has completely overt...
Circle, the company behind the USDC stablecoin, has unveiled an infrastructure platform aimed at modernizing cross-border payments by allowing banks and financial institutions to move money instantly, 24/7, using fully reserved digital dollars (USDC) and euros (EURC). The Circle Payments Network (CPN) will allow banks and financial providers to send money instantly, 24/7, using stablecoins like USDC and EURC. It is designed to support invoice payments, remittances, treasury services, payroll, an...
Publicly traded company Upexi plans to create a Solana corporate treasury, using more than $90 million worth of newly raised funds. The Monday announcement sent Upexi shares skyrocketing, more than quadrupling in price as a result. The Nasdaq-listed consumer products firm, which has been diversifying into the crypto space, raised $100 million in its latest funding round, the company said Monday in a press release. Roughly 95% of those funds are earmarked for establishing, filling and operating a...
