Coinbase-IEX Launching New Crypto Exchange? US SEC To Approve?

Crypto News: Coinbase, US largest crypto exchange and Brad Katsuyama’s IEX Exchange Board are reportedly in talks to create a federally regulated digital asset exchange. Coinbase’s this move has landed amid the recently increased crypto related scrutiny by the US SEC.

Coinbase To Launch Regulated Exchange

Charles Gasparino, Fox Business journalist revealed Coinbase and IEX planning came keeping in sight the horrible FTX collapse. He added that Brad and Sam Bankman-Fried (SBF) earlier had a meeting with the US SEC Chair, Gary Gensler in order to gain approval.

The meetings with the US SEC chair happened around the time when SBF’s FTX went on to file for bankruptcy back in November. However, the financial watchdogs have called out the FTX case as one of the biggest crypto industry frauds.

Coingape reported that SBF is dodging appearing in the Voyager Digital bankruptcy case.

As per reports, IEX stated that they will continue to consider ways to provide a regulatory path for digital asset securities. This move includes conversations with regulators and other market participants. Meanwhile, they have not formed an agreement on any specific proposal which includes the third parties. Read More Crypto News Here…

Crypto Exchange Looks To Do More Lay Offs?

However, Coinbase hasn’t commented on the matter. As per reports, the crypto exchange reported higher than expected fourth quarter revenues of $605 million amid the crypto winter. However, several experts suggested an average revenue of around $581 million.

Coinbase is still planning to do more lay off in order to improve the company’s financial performance. Meanwhile, the crypto firm has laid off its employees twice last year. The company earlier stated that it would try to stay near break even in this market situation.

However, after the latest revenue reports, the firm stated that it will now strive to maintain positive earnings before items like taxes, interest, depreciation and more.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]