violation

Venture

Coinbase advocates for dismissal of SEC’s allegations of securities violation

Coinbase, one of the largest crypto exchanges globally, bit back on Wednesday during a hearing to decide whether it committed securities violations. The U.S. Securities and Exchange Commission filed the suit in June 2023, just one day after it sued Binance, the largest crypto exchange by volume, over securities matters. In the SEC’s claims against Coinbase, it also alleged that the 13 cryptocurrencies available for trading on the exchange were securities. Although separate, the Binance suit also had 12 crypto assets mentioned as securities. The judge requested that the securities-focused agency explain what elements of crypto assets constitute investment contracts.

Zara Khan
January 17, 2024

Uncategorized

The Fate of Carta: A Closer Look

Cap table management startup Carta has been dealing with a PR nightmare for the past couple of days. The short of it is that one sales employee, according to Carta, used confidential data from one of the company’s customers to craft a sales pitch for a secondary stock sale. The problem, according to Carta, is taken care of. Before we dive into what this mess might portend for Carta, we need to understand the state of affairs at the company before this came to light. While Carta hasn’t raised a round since that 2021-era transaction, per secondary data from platforms like Hiive Markets, Caplight and Notion, its current valuation is estimated to be about half of its last primary round.