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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="Weather Man" data-source="post: 16670930" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3741264-coinbase-stock-falls-5-as-it-ends-plans-for-crypto-lending-amid-regulator-pressure" target="_blank"></a></p><p><a href="https://seekingalpha.com/news/3741264-coinbase-stock-falls-5-as-it-ends-plans-for-crypto-lending-amid-regulator-pressure" target="_blank">Coinbase stock falls 5% as it ends plans for crypto lending amid regulatory pressure</a></p><p></p><p></p><ul> <li data-xf-list-type="ul">Cryptocurrency exchange Coinbase Global ((<a href="https://seekingalpha.com/symbol/COIN" target="_blank">COIN</a> -5.5%)) <a href="https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb" target="_blank">drops </a>to its lowest level since early-August as the company said it will not go forward with the Lend program shortly after the Securities Exchange Commission threatened to sue with a Wells notice, the company said on its website.</li> <li data-xf-list-type="ul">Under the program, customers would earn interest on USDC - guaranteed by Coinbase - well-above what traditional depository institutions offer for a savings account.</li> <li data-xf-list-type="ul">Coinbase (NASDAQ:<a href="https://seekingalpha.com/symbol/COIN" target="_blank">COIN</a>) said it will also discontinue the waitlist for the USD Coin annual percentage yield program, which already had hundreds of thousands of sign ups before it got dropped.</li> <li data-xf-list-type="ul">The SEC told the exchange that if it launches Lend, they will sue because the feature is considered a security, but "they refuse to tell us why they think it's a security," Coinbase CEO Brian Armstrong said in a <a href="https://twitter.com/brian_armstrong/status/1435439291715358721" target="_blank">tweet</a>.</li> <li data-xf-list-type="ul">The downside move in COIN may also be enhanced by Bitcoin's ((<a href="https://seekingalpha.com/symbol/BTC-USD" target="_blank">BTC-USD</a> -7.8%)) plunge as global markets <a href="https://seekingalpha.com/news/3741095-bitcoin-leads-cryptocurrency-plunge-as-global-markets-suffer-risk-off-day" target="_blank">suffer a 'risk-off' day</a>.</li> <li data-xf-list-type="ul">Separately, as digital asset adoption continues to accelerate, the company said it's opening Prime, a crypto brokerage, to all institutional investors, Coindesk reports. Tesla CEO Elon Musk, PNC Bank, SpaceX, and Tesla (NASDAQ:<a href="https://seekingalpha.com/symbol/TSLA" target="_blank">TSLA</a>) are among some of Prime's clients, Coindesk notes, citing a shareholder letter from <a href="https://www.coindesk.com/business/2021/09/20/coinbase-with-9k-institutions-already-enlisted-launches-prime-out-of-beta/" target="_blank">last month</a>.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16670930, member: 137766"] [URL='https://seekingalpha.com/news/3741264-coinbase-stock-falls-5-as-it-ends-plans-for-crypto-lending-amid-regulator-pressure'] Coinbase stock falls 5% as it ends plans for crypto lending amid regulatory pressure[/URL] [LIST] [*]Cryptocurrency exchange Coinbase Global (([URL='https://seekingalpha.com/symbol/COIN']COIN[/URL] -5.5%)) [URL='https://blog.coinbase.com/sign-up-to-earn-4-apy-on-usd-coin-with-coinbase-cdad79e5f5eb']drops [/URL]to its lowest level since early-August as the company said it will not go forward with the Lend program shortly after the Securities Exchange Commission threatened to sue with a Wells notice, the company said on its website. [*]Under the program, customers would earn interest on USDC - guaranteed by Coinbase - well-above what traditional depository institutions offer for a savings account. [*]Coinbase (NASDAQ:[URL='https://seekingalpha.com/symbol/COIN']COIN[/URL]) said it will also discontinue the waitlist for the USD Coin annual percentage yield program, which already had hundreds of thousands of sign ups before it got dropped. [*]The SEC told the exchange that if it launches Lend, they will sue because the feature is considered a security, but "they refuse to tell us why they think it's a security," Coinbase CEO Brian Armstrong said in a [URL='https://twitter.com/brian_armstrong/status/1435439291715358721']tweet[/URL]. [*]The downside move in COIN may also be enhanced by Bitcoin's (([URL='https://seekingalpha.com/symbol/BTC-USD']BTC-USD[/URL] -7.8%)) plunge as global markets [URL='https://seekingalpha.com/news/3741095-bitcoin-leads-cryptocurrency-plunge-as-global-markets-suffer-risk-off-day']suffer a 'risk-off' day[/URL]. [*]Separately, as digital asset adoption continues to accelerate, the company said it's opening Prime, a crypto brokerage, to all institutional investors, Coindesk reports. Tesla CEO Elon Musk, PNC Bank, SpaceX, and Tesla (NASDAQ:[URL='https://seekingalpha.com/symbol/TSLA']TSLA[/URL]) are among some of Prime's clients, Coindesk notes, citing a shareholder letter from [URL='https://www.coindesk.com/business/2021/09/20/coinbase-with-9k-institutions-already-enlisted-launches-prime-out-of-beta/']last month[/URL]. [/LIST] [/QUOTE]
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