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Delaware judge allows Coinbase insider-trading suit; complaint cites $2.9 billion sales
On Friday, Judge Kathaleen St. J. McCormick permitted a shareholder lawsuit alleging insider trading by Coinbase directors, including Brian Armstrong, to proceed. The complaint says insiders sold $2.9 billion during the 2021 direct listing, including $291.8 million by Armstrong and $118.7 million via Andreessen Horowitz, even as a special committee later found no use of confidential information.
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Delaware Court Lets Coinbase $2.9 Billion Insider Trading Case Move Forward After Committee Review
On a Friday ruling in Delaware, Judge Kathaleen St. J. McCormick allowed a shareholder lawsuit accusing several Coinbase directors of insider trading tied to $2.9 billion in stock sales from the April 2021 direct listing to proceed. The case, brought in 2023 by investor Adam Grabski, challenges a special litigation committee’s 10-month investigation that had cleared figures including Marc Andreessen and CEO Brian Armstrong, arguing conflicts around one committee member undermined the review.
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DraftKings to launch crypto-to-cash betting deposits in four US states after MGC ruling
DraftKings plans to introduce a crypto-to-cash deposit option in Illinois, Kentucky, New Hampshire, and Vermont in the coming weeks, allowing US users to fund betting accounts with digital assets converted to cash. Massachusetts regulators have blocked similar deposits by banning crypto-converted funds as a permissible source, while other states like Wyoming, Colorado, and Virginia already allow such methods. At the same time, multiple jurisdictions are moving to prohibit credit cards for online sports wagering due to concerns over gambling-related financial harm.
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FCA Consultation CP26/4 Sets New UK Regulatory Framework for Crypto Firms to 2027
On January 31 2026, the UK Financial Conduct Authority released Consultation Paper CP26/4 setting out how its handbook will apply to newly regulated cryptoasset activities, including Consumer Duty, safeguarding, and complaints handling. The proposals would bring issuers, trading platforms, lenders, custodians, and international firms serving UK clients under stricter governance and client asset rules, with most global firms expected to use a UK legal entity. The consultation runs until 12 March 2026, with final rules expected later in 2026 and the regime due to take effect in October 2027 after an authorization gateway planned for September 2026.
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Bitcoin and Ethereum Slide 6% as Strategy and BitMine Stocks Hit Multi‑Month Lows
Over the last 24 hours, the crypto market's total capitalisation has dropped by 6%, with Bitcoin and Ethereum falling to two‑month lows and pressure spreading to related equities. Strategy shares closed at $143.19, down 9.63% and at their weakest level since September 2024, while BitMine ended the session at $26.70, losing 9.89% and touching its lowest point since November 2025. Both companies, which hold large Bitcoin and Ethereum reserves, now face mounting scrutiny over treasury strategies that are highly sensitive to market volatility.
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BTC
BTC-1.99%
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