Bitcoin
$23,561.80
-630.92
(-2.61%)
Ethereum
$1,646.25
-45.7
(-2.7%)
Ripple
$0.41
-0.01
(-1.39%)
Litecoin
$99.93
-2.04
(-2%)
EOS
$1.07
-0.02
(-1.92%)
Cardano
$0.40
-0
(-0.86%)
Stellar
$0.09
-0
(-1.36%)
NEO
$8.83
+0.25
(+2.88%)
NEM
$0.04
-0
(-0.71%)
DigitalCash
$63.28
-0.62
(-0.97%)
Tether
$1.00
0
(0%)
Binance Coin
$326.82
+4.67
(+1.45%)
QTUM
$2.73
-0.06
(-2.29%)
Verge
$0.00
-0
(-0.63%)
Ontology
$0.21
-0
(-2.16%)
ZCash
$46.16
-1.77
(-3.69%)
Steem
$0.20
0
(+0.76%)

Bitcoin- And Ethereum-Related Stocks Are Soaring: What’s Going On? – Coinbase Global

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Shares of several crypto-related stocks including Marathon Digital Holdings Inc MARARiot Blockchain Inc RIOT and MicroStrategy Inc MSTR are trading higher Wednesday afternoon in sympathy with Coinbase Global Inc COIN, which reached a $100 million settlement with New York regulators.

What Happened: Coinbase settled a case with the New York Department of Financial Services. The cryptocurrency exchange will pay a $50 million fine and invest an additional $50 million to improve its compliance program, according to a statement from Coinbase.

A new regulatory filing indicates the regulators found that Coinbase violated anti-money-laundering laws by allowing customers to open accounts without conducting appropriate background checks and gathering sufficient information.

“The Department’s Examination found significant deficiencies across Coinbase’s compliance program, including its Know-Your- Customer/Customer Due Diligence (“KYC/CDD”) procedures, its Transaction Monitoring System (“TMS”), and its OFAC screening program,” the filing states.

See More Details Here: Why Crypto-Linked Stock Coinbase Is Surging Today

Marathon Digital is engaged in mining digital assets like Bitcoin (CRYPTO:Bitcoin) and Ethereum ETH/USD. Marathon shares were up 23.5% at $4.20 at the time of writing.

Riot Blockchain is focused on building, supporting and operating blockchain technologies. The stock was up 13.7% at $3.83 Wednesday afternoon.

MicroStrategy is a business intelligence, mobile software and cloud-based services company. More than anything else, it’s a bet on Bitcoin, as the firm owns more than 130,000 Bitcoin. MicroStrategy shares were up 12.6% at $163.24 at last check.

Photo: Serg Dementev from Pixabay.



Read More: Bitcoin- And Ethereum-Related Stocks Are Soaring: What’s Going On? – Coinbase Global

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