In The Daily on Saturday, crypto exchange Coinbase has formed a political action committee to raise funds for US elections. Also, Ernst & Young has announced the acquisition of crypto technology and patents, and Indonesian crypto POS terminal maker Pundi X is looking to expand in South Korea with a new partnership.
Also read: Minsk Mulls Rules for Exchanges, Qiwi Awards Employees with Tokens
Coinbase to Raise Money for Elections
California-based crypto exchange Coinbase has formed a political action committee in order to raise money that can be spent on US elections, Reuters reported quoting the company. The filing was announced on Friday, July 20. According to the report, the political action committee has not raised any funds yet.
Coinbase is an important player in the crypto sector. A couple of months ago, the exchange said it would revamp its trading technology to create and offer a new suite of services to attract more institutional investors, including hedge funds and high-frequency trading firms. Its new institutional offering, Coinbase Custody, is already open for business. The company also launched its Coinbase Pro platform.
In May, it was revealed that Coinbase’s representatives had met with US regulators to talk about the possibility to apply for a banking license. The trading platform reportedly contacted officials from the US Office of the Comptroller of Currency earlier this year to discuss the matter. Reports that Coinbase had been approved to list securities were later corrected by the company.
Coinbase’s decisions and moves often influence crypto markets, as was the case with the recent announcement that the exchange is considering adding five new cryptocurrencies – ADA, BAT, XLM, ZEC, and ZRX. The news quickly
