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Coinbase Lawsuit And Altcoins That Are Soaring Higher Than Bitcoin

Written by Rob da WaterGod | 7/26/2021

This article provides information and education for investors. FeedYourEmpire does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.

Cryptocurrency has been a popular topic the past few months and has had investors amazed by the gains that are capable of it. And there are many platforms that have different benefits to aid you in your trading. We are about to be going over coinbase and how it got sued and cryptocurrencies that are doing better than ethereum and bitcoin

What is coinbase

Coinbase Global, Inc., known as Coinbase, is an American company that operates a cryptocurrency exchange platform. Coinbase operates remote-first and lacks an official physical headquarters. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and as of March 2021, was the largest cryptocurrency exchange in the United States by trading volume.

Coinbase Global Sued for Securities Fraud

Block & Leviton Says that Coinbase inc. Has been filed a class-action lawsuit and a certain number of its officers for securities fraud. On April 14, 2021, investors who purchased shares on or after that date and lost money are encouraged to contact the firm to learn more about recovering those losses. Using Blockchain technology, With Coinbase you can buy and sell Bitcoin and other digital assets. Surprisingly, Coinbase has approximately 43 million retail users, 7,000 institutional users, and 115,000 ecosystem partners in over 100 countries. Moreover, Coinbase filed its Registration Statement and related prospectus with the SEC. In connection with its direct offering of over 114, million shares of class A common stock On April 14, 2021. And the sale of convertible preferred stock that is it did not need to raise capital

 through the direct offering to fund operations In, its Registration statement. However, A bit over a month later, Coinbase conceded the need to raise capital and revealed performance issues that prevented users’ ability to trade cryptocurrencies. The Company announced plans to raise about $1.25 billion by means of a convertible bond sale On May 17, 2021. Similarly And on May 19, 2021, Coinbase revealed technical problems, including delays “due to network congestion” affecting those who want to get their money out. Therefore, Coinbase’s share price fell $23.44 per share, or nearly 10%, closing at $224.80 per share on May 19, 2021. Shares today trade as low as $208.00 per share, far below the April 14, 2021 opening price of $381.00.

Bitcoin, Ethereum, Dogecoin Come Back But The Minor Coins Are Achieving Big Gains

In over 24 hours, Bitcoin traded 4.74% higher at $35,785.55. over a seven-day trailing period, The cryptocurrency was up 13.03%. In over 24 hours, Ethereum also was up 2.78% at $2,229.87. EThereum traded 17.84% higher., Dogecoin was up 2.08% at $0.20. Over a seven-day period, dogecoin traded 10.17% higher. AMP, a digital collateral token, was the top gainer on Sunday night. Among the list of top 10 coins according to CoinMarketCap. In More than 24 hours, the cryptocurrency shot up 21.67% to $0.0614 at press time. AMP traded 16.17% higher against BTC and 18.78% against ETH. For the week, AMP traded 35.3% higher. Other remarkable gainers in over 24 hours encompass, Quant, Theta fuel, THETA, and Algorand.

Quant rose 17.07% at $97.01, Theta Fuel and Theta rose 15.31% and 17.72% to $0.38 and $6.51. Meanwhile, Algorand was soaring 9.82% at $0.904 in the period. There was a report by London-based City A.M. citing an Amazon.com, inc insider that the e-commerce giant is looking to accept BTC by the end of the year on Sunday. Amazon’s Bitcoin push involves top management, as per the City A.M. source, who said. ”this is the key first stage of this crypto project, and the directive is coming from the very top Jeff Bezos himself”. Apple Inc was also headhunting for a business development manager. With experience in “cryptocurrency” to lead alternative payments partnerships In June.

Conclusion

In conclusion, Coinbase is a pretty good trading app but because of the security frauds, I suggest staying away from the platform for a while. despite the fact that Algorand and other digital currencies have their shine it’s most likely bitcoin and ethereum will bounce back even higher. And the more higher bitcoin gets more closer the $100,000 mark becomes. Don’t forget to follow WaterGodCryptoEmpireTv for up to Date information on finance and crypto. And If you have any questions or concerns email us at info@Thompsonempire.com

By Thompson Empire

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