Coinbase

Fake Currency Exchange Acquires Actual Broker-Dealer License

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons It is in the nature of bitcoin—insofar an imaginary thing can be said to have a nature—to be at once a transgressive, revolutionary experiment in blowing up the global sovereign financial oligarchy, and a thing for squares to co-opt and buy and sell and get rich on. This duality is reflected in Coinbase, the largest cryptocurrency exchange in the U.S. For less than a month after announcing plans to introduce high-speed trading to the bitcoin world, Coinbase is also eagerly going straight. Coinbase announced it would acquire securities dealer Keystone Capital in a bid to become a fully SEC-regulated broker dealer, the company said Wednesday. “If approved, Coinbase will soon be capable of offering blockchain-based securities, un...

Coinbase To Unite Two Scorned Corners Of The Financial Market

By Mike Cauldwell (https://www.casascius.com/photos.aspx) [Public domain], via Wikimedia Commons There are few things in finance as feared and reviled and misunderstood as high-speed trading. Cryptocurrencies are one of them, even if Michael Lewis hasn’t written a book about them yet. (Stay tuned: One of his muses has weighed in on the topic.) Until now, however, there hasn’t been a way to really piss off the Wall Street dads by combining the two, which is to say trading the highly volatile non-existent non-currencies really, really fast. However, if you load your servers into the trunk and drive them to an office in San Francisco, your dreams of sticking it to the man thusly can be realized. San Francisco-based Coinbase plans to introduce “low-latency performance,” the company said in a b...

Och-Ziff So Messed Up Top Exec. Is Fleeing To The Comparative Calm Of Cryptocurrencies

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons Eighteen months ago, things didn’t look so good for Och-Ziff Capital Management. There was the bribery—so much bribery!—and the fallout thereof. There was the terrible performance, and the massive redemptions. Oh yea, and there were the early rumblings of a battle for control between firm founder Dan Och and his soon-to-be-designated successor and his son’s former waterskiing instructor, Jimmy Levin. Into this breach stepped OneWest Bank and Merrill Lynch veteran Alesia Haas as the embattled firm’s new CFO. And she helped turn things around. But then Och decided things were going too well and decided to blow up his deal with Levin. And, coincidentally or not, Haas is off to do her CFOing in the apparently more predictable and ...