US judge says SEC suit against Coinbase (COIN) can go ahead

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Coinbase (COIN) ticks lower after a federal judge ruled the SEC lawsuit against the company can move forward

March 27, 2024 9:57 AM EDT

Coinbase (NASDAQ: COIN) ticks lower after a federal judge ruled the SEC lawsuit against the company can move forward.

Meanwhile, the judge dismissed one claim the agency made against COIN, giving the company a partial win.

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Coinbase must face US securities regulator's lawsuit, judge says

March 27, 2024 9:50 AM EDT

By Hannah Lang and Jody Godoy

(Reuters) -A federal judge in Manhattan on Wednesday said the U.S. Securities and Exchange Commission's lawsuit against Coinbase can move forward, but dismissed one claim the regulator made against the largest U.S. cryptocurrency exchange. U.S. District Judge Katherine Polk Failla partly granted Coinbase's motion to dismiss the SEC's lawsuit which alleges the company is flouting its rules.

While the decision is a partial win for Coinbase in what could be a lengthy and expensive court battle, it largely blesses the SEC's approach to cryptocurrency and agrees with... More

US futures, GameStop, falling yen - what's moving markets

March 27, 2024 5:55 AM EDT

Investing.com -- Wall Street remains on track for a positive month and quarter, but troubled retailer GameStop slumped after reporting weak holiday quarter ales. The Japanese yen fell to its lowest level since 1990, while the crude market also weakened after a large U.S. inventories build.


1. Futures higher; on track for positive quarter

U.S. stock futures traded higher Wednesday, rebounding after a recent pullback, as investors await further cues on the Federal Reserve's interest rate trajectory.


By 05:00 ET (09:00 GMT), the Dow futures contract was 180... More

Crypto stock short sellers face $1.9 billion hit as Bitcoin surges - Report

March 26, 2024 11:46 AM EDT

Bitcoin's blockbuster surge has led to massive losses for short sellers of crypto-related stocks, totaling nearly $1.9 billion in mark-to-market losses today, according to data compiled by S3 Partners.


This downturn for short sellers accompanies Bitcoin's over 7% jump in late-day trading and an almost 12% rise from its recent low three days ago.


The total short interest in crypto-related stocks stands at $10.7 billion, with MicroStrategy Incorporated (NASDAQ: MSTR) and... More