Latest news with #PaulGrewal
Yahoo
01-08-2025
- Business
- Yahoo
Coinbase Increases Bitcoin Holdings, Plans Tokenized Stocks In U.S.
Coinbase (COIN) said it is increasing its bitcoin (BTC) holdings and that it plans to launch tokenized U.S. stocks and prediction markets in the coming months, marking a significant expansion of its business as it seeks to diversify its revenue stream. In a post on X on Thursday, Coinbase CEO Brian Armstrong said, 'Coinbase is long bitcoin. Our holding increased by 2,509 BTC in Q2, and we keep buying more." The news about Coinbase buying bitcoin isn't new, but it is definitely on trend, as many bitcoin treasuries have popped up recently to mimic Michael Saylor's Strategy (MSTR). However, the crypto exchange's CFO, Alesia Haas, previously made it clear that Coinbase isn't a BTC treasury company but rather a crypto operating company that invests in the Coinbase confirmed to CNBC that it is preparing to offer tokenized versions of U.S. equities — digital representations of shares that can be traded on blockchain infrastructure. The products will allow users to buy and sell fractions of stocks around the clock, with faster settlement and lower costs than traditional equity markets. The company's chief legal officer, Paul Grewal, announced in June that the company was seeking approval from the U.S. Securities and Exchange Commission (SEC) for the product. The announcement comes amid a broader push by financial institutions to explore tokenization — the process of putting real-world assets on blockchain — as a way to improve efficiency and accessibility in capital markets. BlackRock, Franklin Templeton, and JPMorgan have all made forays into the space in recent months. Coinbase's top competitors, Robinhood and Kraken, have both recently launched tokenized stocks outside of the U.S. The exchange also plans to launch prediction markets, which would enable users to bet on future events' outcomes using crypto assets. These features are expected to roll out within months, pending regulatory clarity, Coinbase's vice president of product, Max Branzburg, told CNBC on Thursday. 'We're building an exchange for everything,' he told CNBC. 'Everything you want to trade, in a one-stop shop, on-chain. … We're bringing all assets onchain — stocks, prediction markets, and more. We're building the foundations for a faster, more accessible, more global economy.' Coinbase reported second-quarter earnings Thursday, missing estimates, as retail trading volume fell during the last quarter. Shares of the company are down about 6% in post-market trading.
CNBC
15-07-2025
- Business
- CNBC
Bitcoin falls as lawmakers grapple with crypto regulation bills: CNBC Crypto World
On today's episode of CNBC Crypto World, bitcoin falls as new data showed consumer prices rose in June. Plus, crypto asset manager Grayscale announces it confidentially filed with the SEC to go public on U.S. markets. And as the House tries to advance crypto legislation, Paul Grewal, chief legal officer at Coinbase, discusses what the bills being considered by Congress would mean for the industry.
Yahoo
19-06-2025
- Business
- Yahoo
Coinbase (COIN) Surges 16.32% on Planned Stock Trading Adoption
We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Coinbase Global, Inc. (NASDAQ:COIN) is one of the best-performing stocks on Thursday. Coinbase Global jumped by 16.32 percent on Wednesday to close at $295.29 apiece as investors snapped up shares following plans to offer tokenized equities to its customers. Coinbase Global, Inc. (NASDAQ:COIN) sought the approval of the Securities and Exchange Commission for the initiative, which would allow it to offer stock trading through its blockchain technology. If approved, Coinbase Global, Inc. (NASDAQ:COIN) would directly compete with retail brokerage companies namely Robinhood Markets and Charles Schwab. According to Coinbase Global, Inc. (NASDAQ:COIN) Chief Legal Officer, Paul Grewal, the new initiative is 'a huge priority' for the company, enabling it to diversify beyond cryptocurrencies. A shot of someone securely accepting crypto assets as payment, showcasing the company's payment solutions. Tokenizing equities is a process in which shares of a company are converted into a digital token, similar to how cryptocurrencies are traded. Instead of holding the securities directly, investors hold tokens that represent ownership of the securities. While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
18-06-2025
- Business
- Yahoo
Coinbase Seeks SEC Approval to Offer Tokenized Stock Trading
Coinbase is seeking approval from the U.S. Securities and Exchange Commission (SEC) to launch tokenized stock trading, a move that could expand its business into the territory of traditional brokerage firms. The crypto exchange's chief legal officer, Paul Grewal, told Reuters that Coinbase aims to offer digital versions of stocks — known as tokenized equities — which would trade on blockchain networks rather than through conventional exchanges. The model could allow round-the-clock trading, reduce transaction costs and eliminate clearing intermediaries. However, the road ahead depends on how the SEC responds. Coinbase is looking to secure either a no-action letter or an exemption from enforcement, both of which would provide regulatory cover for offering these products in the U.S. The push marks a strategic shift for Coinbase, which already owns a broker-dealer license through a dormant affiliate. If the initiative succeeds, it could position the company alongside retail brokerages like Robinhood (HOOD) and Charles Schwab (SCHW), which cater to a similar investor base, as well as crypto exchange Kraken. Tokenized equities aren't yet legal to trade in the U.S., but platforms like Kraken are piloting such offerings overseas. Coinbase's timing aligns with a friendlier regulatory climate under new SEC chair Paul Atkins; the agency has dropped several crypto-related lawsuits and set up a task force dedicated to digital assets. Still, Grewal declined to say whether Coinbase had formally filed its request. The confidence that comes from clear SEC guidance has been missing, he said. 'Exciting? Yes. Important? Absolutely. But breaking news? Not exactly. We've been saying since earlier this year that the SEC should enable markets to unlock tokenized securities,' Grewal posted on social media. 'Tokenized debt, equity, and investment funds present an opportunity for tailored regulation for securities that are offered and traded via digitally native methods.' Sign in to access your portfolio
Yahoo
18-06-2025
- Business
- Yahoo
Coinbase wants SEC to greenlight tokenized stock trading
Coinbase wants SEC to greenlight tokenized stock trading originally appeared on TheStreet. Coinbase (Nasdaq: COIN), the largest U.S. crypto exchange, is seeking regulatory authority from the Securities and Exchange Commission (SEC) to offer tokenized equities, a move that could position it to compete with Robinhood and Charles Schwab. Coinbase's Chief Legal Officer, Paul Grewal, said in a Reuters interview that the concept is a "huge priority." Tokenized equities means taking a traditional share of a company and converting it into digital tokens that are traded on the blockchain. Advocates argue that this reduces brokerage fees, speeds up settlements, and enables individuals to trade 24/7. But there are obstacles. At present, tokenized equities cannot be traded in the United States. Competitor exchange Kraken has recently rolled out "xStocks" outside the U.S., which provides a snapshot of future trading possibilities for tokenized stocks worldwide. To proceed in a U.S. environment, Coinbase would require a "no-action letter" or "exemptive relief" from the SEC, essentially guaranteeing that the company would not be subject to enforcement action if it pursued these types of transactions. Grewal would not confirm whether Coinbase had submitted a formal request but said that institutions have been hesitant as a result of the lack of guidance presently. Coinbase currently holds a broker-dealer license from a company it acquired in 2018, but that entity is no longer active. The request comes against the backdrop of a broader shift in U.S. crypto policy under President Donald Trump, under whose tenure the SEC has abandoned its legal cases against key exchanges. If granted, this could create a new and massive source of revenue for Coinbase, entirely redefining retail investing. Coinbase's stock is trading at $250.02 at press time, down over 4.55% in the last 24 hours. Coinbase wants SEC to greenlight tokenized stock trading first appeared on TheStreet on Jun 17, 2025 This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
