News linked to both this project and an event.
: Solana ecosystem multi-signature protocol Squads announced the completion of an $18 million strategic funding round, led by Solana Ventures, with participation from Coinbase Ventures, Haun Ventures, L1D, and others. Its total cumulative funding has now reached $42.9 million. According to reports, Squads' stablecoin payment platform Altitude allows enterprises to conduct 24/7 global payment settlements in stablecoins through self-custodial wallets, and connects to the global payment network via its compliance and risk control system. (The Block)
Odaily Odaily Odaily The U.S. Commodity Futures Trading Commission (CFTC) on Tuesday sued the state of Wisconsin in an effort to uphold its regulatory authority after the state filed lawsuits against multiple prediction market platforms. In a statement, the CFTC said the lawsuit was filed in response to Wisconsin's legal actions against five CFTC-regulated prediction market operators: Kalshi, Polymarket, Crypto.com, Robinhood, and Coinbase. CFTC Chairman Michael Selig stated that states cannot circumvent clear congressional directives, and the agency will take legal action if they interfere with the implementation of federal laws regulating financial markets. This marks the fifth such lawsuit the CFTC has initiated against a U.S. state, following previous actions against New York, Arizona, Connecticut, and Illinois. Wisconsin had previously argued that prediction market contracts related to sporting events constitute illegal gambling and must obtain a state gambling license. The CFTC, jointly with the U.S. Department of Justice's Civil Division, filed a complaint in Wisconsin federal court, asserting its exclusive jurisdiction over prediction market event contracts operating as designated contract markets. The defendants include Wisconsin Governor Anthony Evers, state Attorney General Josh Kaul, and the state's gambling division.
According to The Wall Street Journal, on April 27, the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against New York State in the U.S. District Court for the Southern District of New York, seeking a court ruling that the CFTC holds exclusive regulatory authority over prediction markets—aiming to halt New York State’s enforcement actions. Previously, New York State had filed lawsuits against cryptocurrency exchanges Coinbase and Gemini over their prediction market operations. Earlier this month, the CFTC also initiated similar lawsuits against Arizona, Illinois, and Connecticut, intensifying jurisdictional disputes between federal and state regulatory agencies.
According to the Lianhe Zaobao, Singapore’s Police Anti-Scam Centre and the Cybercrime Investigation Division collaborated with cryptocurrency platforms including Coinbase, Coinhako, StraitsX, and Upbit in a month-long targeted enforcement operation from March 16 to April 15 this year, successfully intercepting over S$2.86 million in scam proceeds. During the operation, authorities used analytical tools from blockchain intelligence firms TRM Labs and Chainalysis to identify victims involved in multiple scam categories—including impersonation of government officials, investment scams, job scams, and online romance scams—and carried out more than 90 direct interventions via telephone and in-person contact. The police stated that the operation’s success stemmed from a rapid information-sharing mechanism between law enforcement agencies and private-sector platforms, and emphasized their continued commitment to deepening public-private collaboration to counter increasingly sophisticated cryptocurrency scams.
on April 23, Wisconsin Attorney General Josh Kaul filed a lawsuit in Dane County against Kalshi, Robinhood, Coinbase, Polymarket, and Crypto.com, accusing these fintech and crypto platforms of facilitating illegal sports betting through event contracts. Josh Kaul is requesting the court to issue preliminary and permanent injunctions, declaring that the platforms' operations violate Wisconsin's gambling laws and constitute a public nuisance. The complaint states that repackaging wagers as event contracts does not change their fundamental nature, with approximately 90% of Kalshi's business coming from sports-related contracts, generating annualized revenue exceeding $1 billion. Robinhood and Coinbase are also implicated in the case, routing user orders to Kalshi's markets through distribution agreements. Regulators in Nevada, Arizona, and Tennessee have also taken similar legal actions or issued cease-and-desist orders.
According to CoinDesk, Wisconsin Attorney General Josh Kaul filed a lawsuit on April 24 against Kalshi, Coinbase, Polymarket, Robinhood, and Crypto.com, accusing these platforms of operating unlicensed gambling businesses under the guise of “event contracts.” The complaint cites marketing language used by the platforms themselves—for instance, Kalshi’s claim to be “the first legal sports betting platform in the U.S.,” and Polymarket’s statement that users can “bet on the outcomes of future events”—to argue that such contracts constitute wagering under Wisconsin law. The state government further noted that the platforms’ business model—charging fees per transaction—is functionally identical to casinos’ commission-based revenue structure. At the heart of this case lies a jurisdictional dispute: whether prediction market contracts fall under federal regulation by the Commodity Futures Trading Commission (CFTC) or are subject to individual states’ gambling laws. Similar lawsuits have already been filed by multiple states, and this conflict is expected to ultimately be resolved by the U.S. Supreme Court.
the crypto advocacy groups Blockchain Association and CCI, together with over 120 industry institutions including Coinbase, Ripple, Kraken, and Circle, have sent a joint letter to the U.S. Senate Banking Committee, urging an accelerated review process for the CLARITY Act. The industry parties stated that the United States needs to establish a unified regulatory framework for digital asset markets, clarify regulatory responsibilities, and strengthen investor protection. They emphasized that relying solely on enforcement-based regulation cannot create a long-term stable environment. The institutions warned that prolonged policy ambiguity will lead to an outflow of capital, talent, and technology, weakening America's strategic advantages. They also called for the development of tailored federal unified regulatory rules for stablecoins, tokenized assets, and decentralized technologies.
According to CoinDesk, over 100 U.S. crypto companies and industry organizations sent a letter to the Senate Banking Committee urging advancement of the Clarity Act’s consideration to establish a federal regulatory framework for digital asset markets. Signatories include Coinbase, Ripple, Kraken, Andreessen Horowitz, Paradigm, and Consensys. Their core demands include clarifying the regulatory division of responsibilities between the SEC and the CFTC, protecting developers of non-custodial tools, simplifying disclosure requirements, and preventing fragmentation across state-level regulatory standards. The signatories warn that without a comprehensive crypto regulatory framework in the U.S., investment, jobs, and development activity may shift overseas.
According to CoinDesk, OpenAI has hired six senior marketing executives from Coinbase over the past year and a half, including former Chief Marketing Officer Kate Rouch. The report also states that, in addition to marketing staff, talent from Coinbase’s policy, product design, and data science teams has also joined OpenAI. Sources familiar with the matter said Kate Rouch played a key role in facilitating the move of several former Coinbase colleagues to OpenAI. A Coinbase spokesperson responded that its marketing team comprises more than 150 people, and such personnel movements are normal.
According to an official announcement, Coinbase has announced the listing of tGBP, a stablecoin pegged to the British pound, starting April 22, 2026. Users can buy, sell, exchange, send, and receive tGBP via the Coinbase App and Coinbase Exchange. It was disclosed that tGBP’s issuer, BCP Technologies, is registered with the UK’s Financial Conduct Authority (FCA) and participates in the FCA’s regulatory sandbox. Coinbase stated that this listing forms part of its international expansion strategy to support more local-currency stablecoins.
According to Cointelegraph, Coinbase Chief Legal Officer Paul Grewal stated that the company has removed the lawsuit filed against it by New York Attorney General Letitia James—regarding its prediction markets business—from state court to federal court, citing a substantial federal legal question concerning the regulation of event contracts. The lawsuit also involves Gemini Titan. New York alleges that the relevant prediction market products violate the state’s gambling laws and seeks penalties, disgorgement of alleged illegal profits, user compensation, and an injunction prohibiting the offering of similar products in New York without compliance with state law.
According to The Block, New York State Attorney General Letitia James filed a lawsuit against Coinbase and Gemini on Tuesday, accusing both companies of violating New York’s gambling laws through their prediction market platforms and permitting users aged 18 to 21 to participate—despite New York law requiring participants in mobile sports betting to be at least 21 years old. The state is seeking at least $2.2 billion in damages from Coinbase and at least $1.2 billion from Gemini, along with civil penalties, refunds to users, and forfeiture of illicit proceeds. In response, Coinbase Chief Legal Officer Paul Grewal stated that prediction markets fall under the regulatory authority of the U.S. Commodity Futures Trading Commission (CFTC), and the company will continue defending federal regulatory jurisdiction. The dispute over regulatory authority for prediction markets has now increasingly moved into the judicial arena; the CFTC has previously sued several state governments attempting to shut down such platforms.
Odaily News Letitia James has filed lawsuits against Coinbase and Gemini, alleging that they provide "disguised gambling" services through their prediction market platforms, violating New York state law.Regulators argue that this type of trading based on event outcomes (such as sports, elections) is essentially a form of gambling activity. They particularly question the platforms allowing participation from users aged 18 to 21, while New York law sets the minimum age for sports betting at 21. Prosecutors are seeking substantial fines and the disgorgement of profits, including claims of at least $2.2 billion from Coinbase and at least $1.2 billion from Gemini.The two companies have not yet formally responded, but Coinbase stated that prediction markets are regulated by the Commodity Futures Trading Commission, implying their legality falls under federal jurisdiction.
Odaily News Grayscale has updated its ETF application document linked to Hyperliquid, changing the custodian to Anchorage Digital Bank, replacing Coinbase which previously served as the prime broker and custodian.This adjustment has garnered significant attention, as Coinbase has long dominated the crypto ETF custody space. Currently, almost all U.S. spot Bitcoin ETFs (except Fidelity's) rely on its custody services.The filing shows that The Bank of New York Mellon will continue to serve as the transfer agent for this ETF (proposed ticker GHYP). The fund's staking functionality still requires regulatory approval and will utilize CoinDesk's Hyperliquid benchmark pricing data.Furthermore, Anchorage Digital Bank, as the first federally chartered crypto bank in the U.S., has been continuously expanding its institutional service capabilities in recent years, including areas such as stablecoins, wealth management, and token lifecycle management. (The Block)
According to The Block, Grayscale has filed a revised Hyperliquid ETF application with the U.S. Securities and Exchange Commission (SEC), naming Anchorage Digital Bank as the fund’s custodian in place of Coinbase. Anchorage is the first crypto-native bank to receive a federal banking charter in the U.S. and has recently expanded rapidly into stablecoin services, wealth management, and token lifecycle management—becoming the first institution in the U.S. to support TRON. If approved, the ETF will trade on Nasdaq under the ticker “GHYP”; staking functionality remains subject to regulatory approval.
According to CoinDesk, Coinbase is exploring collaboration with Bybit on tokenization, custody, and global distribution of assets such as U.S.-listed equities and pre-IPO shares. Sources familiar with the matter said negotiations are ongoing and do not involve equity acquisition or similar transactions by Bybit aimed at entering the U.S. market. Separately, reports indicate that Bybit’s plan to enter the U.S. market will be advanced through a new entity led by former Co-CEO Helen Liu, which will bring in an undisclosed local partner to provide licensing and compliance support, while Bybit will supply technology, products, and liquidity.
According to Cointelegraph, a legal dispute between prediction market platform Kalshi and the state of Nevada over regulatory jurisdiction concerning event contracts may ultimately be appealed to the U.S. Supreme Court. Kalshi argued before the U.S. Court of Appeals for the Ninth Circuit that its event contracts qualify as “swaps” subject to the exclusive jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), rather than falling under state-level gambling regulation. Previously, Nevada had restricted Kalshi from offering such contracts on the grounds that it required a gambling license. Paul Grewal, Coinbase’s Chief Legal Officer, stated that the Supreme Court may rule on whether sports contracts listed on designated contract markets fall within the CFTC’s exclusive regulatory authority.
On-chain lending platform Votre has raised $3.75 million in seed funding, led by a16z Crypto Startup Accelerator, with participation from MaC Venture Capital, Druid Ventures, and angel investors from Goldman Sachs, Harvard University, and OrangeDAO. Founded in 2025, Votre operates a non-custodial crypto lending platform on Coinbase’s Base Layer 2 network, enabling users to borrow USD—settled the same day—using Bitcoin as collateral, with loan sizes ranging from approximately $25,000 to $5 million. The funds will be used to scale technical infrastructure, increase platform capacity, enhance liquidity management tools, and strengthen risk and compliance systems.
According to CoinDesk, Wall Street brokerage Bernstein released a research report stating that prediction market trading volume is expected to grow from $5.1 billion in 2025 to approximately $100 billion in 2030, representing a compound annual growth rate (CAGR) of roughly 80%. Trading volume is projected to reach $24 billion in 2026, while Polymarket and Kalshi combined have already generated $60 billion in trading volume year-to-date. The report identifies three core drivers of this growth: increasing regulatory clarity at the federal level, blockchain infrastructure enabling global liquidity, and integration with mainstream trading platforms. Industry revenue is expected to rise from approximately $400 million in 2025 to about $10.8 billion in 2030. Distribution capability is viewed as a key competitive barrier. Robinhood has achieved an annualized revenue run-rate of $350 million from prediction markets and is advancing its exchange infrastructure development; Coinbase, meanwhile, offers nationwide access to over 1,000 contracts via the Kalshi platform. Bernstein maintains an “Outperform” rating on both companies.
According to Paul Grewal, Coinbase’s Chief Legal Officer, Virginia Governor Abigail Spanberger has signed HB 798, a bill extending the state’s unclaimed property laws to digital assets and ensuring that digital assets can be administered in kind. This measure aims to improve the legal ownership framework and handling mechanisms for digital assets. Paul Grewal expressed his gratitude for this development.