Coinbase in the news for cutting 14% of staff and ramping AI squads amid market scrutiny of crypto bets and regulation. CEO-founded 2012.
Recent bets on prediction platforms suggest possible insider trading related to US-Iran tensions. Multiple accounts placed highly profitable wagers on ceasefires and military actions, with analysis indicating wallet-splitting and obfuscation. Regulatory scrutiny is increasing as authorities investigate potential market manipulation.
Letitia James has filed lawsuits against Coinbase and Gemini in Manhattan, alleging their prediction markets operate illegally without licensing. The lawsuits aim to stop these platforms from operating in New York until they obtain proper licenses. The companies argue their prediction markets are federally regulated, but the state maintains they are illegal gambling exposing young users.