Overview
- Coinbase distances itself from CEO Brian Armstrong’s comments on SEC investigation
- Digital Currency Group nearing settlement with Genesis creditors; reports $216M Q2 revenue as new CFO takes helm
- Could a new surge in TUSD supply trigger another Bitcoin rally?
Coinbase Distances Itself From CEO
Coinbase has distanced itself from its CEO Brian Armstrong’s comments regarding a potential investigation by the U.S. Securities and Exchange Commission (SEC). The company is currently in talks with the agency over potentially misleading statements made by Armstrong about the status of an ongoing investigation.
Digital Currency Group Nearing Settlement
The Digital Currency Group, which is owned by Coinbase, is nearing a settlement with creditors of Genesis Trading, according to reports. The group reported $216 million in second quarter revenue, as a new Chief Financial Officer takes the helm. Meanwhile, German privacy watchdog BfDI has been investigating Worldcoin since November 2022.
Tether Reports Signifcant Bitcoin Reserves Increase
Tether announced an increase in its Bitcoin reserves of up to $170 million alongside drawdown in allocation for precious metals holdings. This came after the SEC sued HEX founder Richard Heart for allegedly unregistered securities sales and fraud accusations.