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

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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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