Coinbase to pay $100M After Crypto Probe Finds Compliance Fault

Published by
The Street

By Jeffrey Quiggle An investigation by the New York State Department of Financial Services found actions by Coinbase left it vulnerable to criminal conduct. A disastrous year for cryptocurrencies culminated in the infamous November 2022 collapse of the now-bankrupt FTX exchange. The rapid fall of FTX had devastating effects on the entire crypto-asset sector and led to several other bankruptcies. Sam Bankman-Fried, the former FTX CEO, after a series of revelations and legal actions, ended up pleading not guilty to fraud and other charges on Jan. 3. Three federal agencies (the Board of Governors…

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