Coinbase released the first part of The Degen Trilogy, the Coinbase-produced BAYC trilogy of BAYC flicks. The Bored Ape Yacht Club is one of the biggest NFT brands in the world. The trilogy is also expected to tie into the launch of the Coinbase NFT marketplace.
However, in light of the recent controversy surrounding Coinbase, some did not receive the work well. Brekkie Von Bitcoin, a major crypto influencer and the author of Rhyming Bitcoin, stated his disgust with the first part of the trilogy. According to him, the platform is “bastardizing” everything that Bitcoin stands for.
Coinbase recently faced a lot of insolvency rumors after many other crypto platforms like 3AC and Celsius were declared insolvent and the company shut down its affiliate programs. Multiple reports stated Sam Bankman-Fried’s interest in acquiring the company.
The Security and Exchanges Commission also launched a probe into Coinbase regarding the recent insider trading incident in the firm. SEC also revealed that some of the tokens listed on Coinbase are securities. According to the SEC, the platform is not registered with the SEC to be able to do that.
Cory Klippstein, a major crypto influencer, blasted the platform on their process to list “sh*tcoin” and highlighted that the company does not have a process to weed out securities. According to him, if a token pays sufficient fees and a market maker is willing to support the price, they go ahead with listing the coin.
It is also recently reported that Cathie Woods’ Ark Investments is selling its shares in Coinbase. Coinbase’s share has fallen more than 21% in a short period to reach $52.93.
Coinbase has been struggling with a flurry of bad news. However, the platform has received indirect support from crypto leaders and politicians. Senator Pat Toomey of Pennsylvania has chastised the SEC for not publicly declaring the definition of security.
According to him, the SEC is engaging in regulation through enforcement and might be trying to get a win at the expense of proper regulation.
The Bitcoin price has hit a new all-time high, after staging a monstrous rally since…
Bitcoin (BTC) is in profit on almost all of its supply, leading to discussion by…
Pro-crypto Mike Selig is reportedly the frontrunner to become the next chair of the U.S.…
Nate Geraci, president of Novadius Wealth Management, has predicted that several crypto ETF filings could…
Bitcoin-backed stocks of Strategy can now be accessed on Robinhood. This represents a significant move…
The Bitcoin ETFs have seen a huge turnaround this week, recording their largest weekly inflows…