A Delaware judge ruled Friday that a shareholder lawsuit alleging insider trading by Coinbase directors can proceed, rejecting a special committee’s recommendation to dismiss the case despite its 10-month investigation clearing the defendants. The decision affects several high-profile directors, including venture capitalist Marc Andreessen and CEO Brian Armstrong, who collectively sold over $2.9 billion in stock during the company’s April 2021 direct listing. According to Bloomberg Law, Judge Kathaleen ...

Core Insights - The October 10 flash crash in cryptocurrency markets was attributed to a macro shock combined with high leverage and reduced liquidity, rather than issues within Binance's trading systems [1] - Global markets were already under pressure from trade-war headlines, which contributed to the vulnerability of crypto markets [1] Market Conditions - At the time of the crash, open interest in bitcoin futures and options exceeded $100 billion, creating a scenario for forced deleveraging as prices began to decline [2] - The selloff led to a self-reinforcing cycle where market makers activated automated risk controls, further reducing liquidity in order books [3] Impact on Markets - The U.S. equity markets experienced a loss of approximately $1.5 trillion on the same day, with the S&P 500 and Nasdaq recording their largest one-day declines in six months [4] - Binance reported that around $150 billion in systemic liquidations occurred across global markets during the crash [4] Blockchain and Transaction Issues - Ethereum gas fees surged above 100 gwei, causing blockchain congestion that slowed transfers and limited arbitrage opportunities, which exacerbated price gaps and fragmented liquidity [5] Binance-Specific Incidents - Binance acknowledged two specific incidents during the crash but clarified that these did not cause the broader market movement. The first incident involved a slowdown in its internal asset-transfer system, affecting transfers between accounts [6] - The second incident was related to temporary index deviations for certain assets, which occurred after most liquidations had already taken place, attributed to thin liquidity and delayed rebalancing [7] Compensation and Methodology Changes - Binance implemented changes to its methodology and compensated affected users with over $328 million, launching additional support programs to stabilize impacted participants [8] - Approximately 75% of the day's liquidations occurred before the index deviations, indicating that the initial macro shock was the main driver of the market movement [8]

Core Insights - The shift in capital is moving from traditional funds to blockchain-based trading venues, with precious metal funds attracting $1.4 billion while Bitcoin-linked funds experienced $300 million in withdrawals as Bitcoin's value dropped to nearly $86,000 [1][11] - Gold prices surged past $5,500 and silver exceeded $118 per ounce, driven by a four-year low in the dollar and geopolitical tensions [1][11] - The correlation between Bitcoin and gold has dropped to -0.18, indicating they are moving in opposite directions, challenging the narrative of Bitcoin as "digital gold" [6][11] Capital Movement - Precious metal funds have seen significant inflows, while Bitcoin-linked funds have faced outflows, highlighting a shift in investor sentiment [1][11] - Crypto-native platforms like Hyperliquid are gaining traction, with commodities now accounting for about 80% of open interest on exchanges like Ostium [11] Market Sentiment - Investors are increasingly frustrated with Bitcoin's failure to act as a hedge during dollar weakness, leading to a pivot towards commodities [2][6][11] - The sentiment among traders is mixed, with some chasing momentum in metals while others express disappointment in Bitcoin's performance [7][11] Trading Dynamics - The trading volume for silver futures has significantly outpaced that of Bitcoin, indicating a shift in speculative interest [8][11] - The rise of non-crypto perpetual contracts is attracting attention, with platforms offering trading in both commodities and traditional assets [11] Future Outlook - Analysts suggest that the focus on commodities is logical given the 24/7 nature of crypto markets and the availability of liquid trading venues [7][11] - There is an emerging interest in other metals like copper, as traders anticipate market rotations [8][11]

Binance, the world’s largest crypto exchange on trading volume metrics, announced plans to convert the entire $1 billion reserve of its Secure Asset Fund for Users (SAFU) from stablecoins into Bitcoin over the next 30 days. The move comes as markets reel from a $1.7 billion crypto liquidation wave and from up to $9 trillion in whiplash across assets. Binance To Convert $1 Billion SAFU Fund to Bitcoin: All You Need to Know The SAFU fund, established in 2018 and funded by Binance’s trading fee revenue, se ...

Group 1 - Binance announced it will switch the stablecoin in its $1 billion emergency user protection fund to bitcoin over the next 30 days [1] - The Secure Asset Fund for Users (SAFU) is designed to protect users from losses due to unforeseen events such as hacks [1] - The exchange will conduct regular audits during the conversion process [1] Group 2 - If bitcoin's price fluctuations cause the fund's value to drop below $800 million, Binance will replenish it back to $1 billion [2] - This initiative is part of Binance's long-term efforts to build the industry and the company plans to share more progress with the community [2] - As of 2025, Binance's proof-of-reserves report indicated that users hold approximately $163 billion in crypto tokens on the platform [2] Group 3 - Stablecoins are digital tokens pegged to external references like the U.S. dollar, while bitcoin is the leading cryptocurrency with a market value exceeding $1.6 trillion [3]

Cryptocurrency exchange ByBit reportedly wants to look more like a bank.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.The company plans to begin offering banking services, including accounts that allow users to h ...

Core Viewpoint - Coinbase Global, Inc. (NASDAQ:COIN) is facing challenges due to regulatory concerns and market performance, with a recent price target reduction by Piper Sandler indicating cautious sentiment ahead of earnings [2][4]. Group 1: Regulatory Concerns - CEO Brian Armstrong expressed opposition to the Senate Banking draft on cryptocurrency market structure, highlighting issues such as a de facto ban on tokenized stocks, restrictions on DeFi, and increased government access to financial records [3]. - Armstrong stated that the proposed plan would be worse than the current regulatory environment, indicating a preference for no legislation over poorly drafted bills [3]. Group 2: Market Performance - As of January 23, 2026, Coinbase's stock was down by 8.28% year-to-date [4]. - Despite being one of the largest bitcoin exchange platforms in the U.S., the company is viewed as having less upside potential compared to certain AI stocks, which are considered to carry less downside risk [4].

Core Insights - Bybit, the second-largest crypto exchange by trading volume, plans to launch dollar-denominated banking accounts called "MyBank" in February 2026, pending regulatory approvals [1] - The initiative aims to position Bybit as a neo-bank, allowing seamless conversion between fiat and digital assets, with support from partner banks like Pave Bank [2][4] - The accounts will support transfers across 18 currencies, requiring users to pass "know your customer" checks [3] Company Strategy - Bybit's operational reach includes over 200 jurisdictions and partnerships with nearly 2,000 banks, providing a strong foundation for the banking product rollout [4] - The CEO emphasized that crypto serves as the infrastructure for a new financial system, positioning the accounts as a bridge between traditional finance and digital assets [5] - Beyond retail banking, Bybit plans to launch a custody product targeting institutional investors involved in tokenizing real-world assets [6] Market Positioning - The move aligns with Bybit's goal of achieving dominance in real-world asset trading and on-chain capital by 2026 [6] - Despite the popularity of prediction markets, Bybit will avoid entering this space due to compliance challenges [7]

Core Insights - In 2025, crypto tokens listed on major exchanges faced significant price declines, raising questions about the effectiveness of traditional buy-and-hold strategies in the current market environment [1] Exchange Performance - Binance listed 100 tokens in 2025, with 93 trading in the red, resulting in a median ROI of 0.22x, indicating substantial value loss for newly listed altcoins [2] - Bybit listed 150 tokens, with 127 experiencing declines and a median ROI of 0.23x, while MEXC led with 878 new tokens, reporting 747 in negative territory and a median ROI of 0.21x [3] - Coinbase had a relatively better performance, listing 111 tokens with 94 trading lower, achieving a median ROI of 0.43x, the highest among major centralized exchanges [3] - Kraken also followed a similar trend, posting a median ROI of 0.30x despite most newly listed tokens finishing in negative territory [4] Market Trends - The weak performance across exchanges was attributed to broader market conditions rather than the specific listing venues, as many tokens were common across multiple platforms [4] - A separate analysis of Hyperliquid, a decentralized exchange, showed similar results, indicating that the poor performance was not exclusive to centralized platforms [5] - The overall market saw over 11 million new tokens issued in 2025, many classified as "low-quality," contributing to the weak performance of the buy-and-hold strategy [6] - By January 2026, the total crypto market capitalization was below $3 trillion, lower than at the start of 2025, reflecting a loss of over $1 trillion in value since October 2025 [6]

Britain's advertising watchdog has banned a controversial marketing campaign by crypto exchange Coinbase, after ruling that the adverts irresponsibly implied digital assets could solve widespread financial hardship. The Advertising Standards Authority announced the decision in a statement on Wednesday, upholding complaints against four advertisements that aired in August 2024, one video-on-demand spot, and three posters, finding they "trivialised the risks associated with cryptocurrency investment" by pos ...