Advertisement
AD

Main navigation

Coinbase Market Share in US Rises to 61% Despite SEC Lawsuit

Advertisement
Thu, 3/08/2023 - 15:16
Coinbase Market Share in US Rises to 61% Despite SEC Lawsuit
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

On-chain research firm Kaiko has highlighted the growth in Coinbase market share in the United States. Specifically, it noted that Coinbase's market share has climbed from 38% to 61% as of July 2023 since becoming public in April 2021.

Advertisement

Noticeable on the chart it posted was the growth recorded between February and August, which Kaiko indicated with an upward-trending arrow.

The growth comes despite the SEC lawsuit, which was filed in June. The SEC ramped up its regulatory pressure as it sued Coinbase, claiming that some digital currencies are securities.

This happened shortly after a broader complaint was filed against Binance, another cryptocurrency trading platform.

In the most recent update in the lawsuit, Judge Failla has scheduled the briefing on Coinbase's motion for judgment on the pleas.

Related

Tomorrow, Aug. 4, kicks off the Coinbase opening brief. Aug. 11 marks the timeline for amicus briefs supporting Coinbase. On Oct. 3, the SEC opposition brief is expected. Seven days later, on Oct. 10 precisely, amicus briefs supporting the SEC will be submitted. On Oct. 24, Coinbase's reply brief is expected. 

An oral argument on the motion will be scheduled for sometime after Oct. 24. According to the legal expert, MetaLawMan, this is a quick schedule for a big case like Coinbase.

Layer 2 base to open on Aug. 9

According to a new announcement, Base, Coinbase's layer-2 blockchain built with Optimism's OP Stack, will open in every regard on Aug. 9. Base is currently open for bridging, the announcement reads.

Related

In July, Base went live, enabling developers to test applications on the new network. The announcement comes as Coinbase prepares to publish second-quarter earnings and has launched the "Onchain Summer," a series of events where developers can create art or build applications on Base.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD