Major U.S. crypto wallet and exchange Coinbase has reportedly secured a $20 billion hedge fund for its custody service, Business Insider reports July 19. Coinbase launched “Coinbase Custody,” its digital assets custodian…
"This raises conflict concerns, given Coinbase's also running a coin exchange, reminiscent of those that the Commission has found when securities firms have attempted to combine these two roles."Earlier this week, Coinbase retracted its previous statement that it had obtained the SEC’s permission to list tokens considered as securities for trading. The platform acknowledged that neither the SEC nor the Financial Industry Regulatory Authority (FINRA) gave approval for Coinbase’s acquisition of a securities dealer as had been formerly announced.
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