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Produced by Daniel Aharonoff & Mogul Media AI

Coinbase Raises $1 Billion in Convertible Notes

Coinbase's Bold Move: Raising $1 Billion in Convertible Senior Notes In an audacious financial maneuver, Coinbase, the leading digital asset exchange in America, has announced a private offering aimed at raising $1 billion through convertible senior notes. This strategic decision not only underscores the growing confidence in the cryptocurrency market but also showcases the exchange's ambition to further solidify its position within the industry. Coinbase Stock Performance As of the latest trading session, Coinbase's stock, designated as COIN on the Nasdaq, experienced a notable uptick of 3%, bringing the share price to $263.86. Here’s a brief overview of its recent performance: Previous Close : $256 on Tuesday Intraday High : Surged above $268 on Wednesday morning Month-to-Date Growth : Nearly 90% Recent Peak : Reached its highest price since 2021 at $271.65 earlier this week The robust performance of COIN illustrates investors' renewed interest in crypt...
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Produced by Daniel Aharonoff & Mogul Media AI

Introducing the PROOF Act: Safeguarding the Crypto Industry with Transparency and Oversight

The PROOF Act, introduced by Senators Thom Tillis and John Hickenlooper, seeks to address the need for increased transparency and oversight in the crypto industry. The bill aims to prevent another collapse similar to that of FTX by establishing safeguards and implementing monthly proof of reserves reports from auditing firms. In addition, the PROOF Act sets baseline account standards for digital exchanges and includes civil penalties for non-compliance. While the passage of the bill remains uncertain, proponents argue that proof of reserves can provide the much-needed transparency and oversight necessary for the stability and growth of the crypto industry.

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