Apr 15, 06:31 PM

SEC Probes Coinbase and Circle's USDC Revenue Split Since 2023 Amid Circle's $1.84 Billion Capital Move

The U.S. Securities and Exchange Commission (SEC) has been investigating Coinbase and Circle regarding their revenue-sharing arrangement related to the USD Coin (USDC) since 2023, during Gary Gensler's tenure as SEC Chair. This inquiry has prompted Coinbase to enhance transparency about its dealings with Circle. In a related development, Circle, the issuer of USDC, has transferred $1.84 billion (€1.62 billion) from its Irish subsidiary to a new U.S. entity, as part of preparations for its upcoming initial public offering (IPO). The scrutiny from the SEC and Circle's capital move highlight ongoing regulatory challenges in the cryptocurrency sector.

#SEC #Coinbase #Circle #USD Coin #USDC #Gary Gensler #Irish

Written with ChatGPT (GPT-4o mini).

Sources

Decrypt@DecryptMedia
11 months ago
The SEC has been asking Coinbase to be more transparent about its relationship with stablecoin issuer Circle since 2023, when it was still being run by Gary Gensler. Read more: https://t.co/B3UT7L2RHk
Bloomberg TV@BloombergTV
11 months ago
A new cryptocurrency, USDi, is a dollar tracking stablecoin whose value is determined by the increase in the US consumer price index since December 2024. Mike Regan has more https://t.co/NvdBVt2a9i https://t.co/HLensekcxd
Markets News@MarketsDotNews
11 months ago
The SEC is investigating Coinbase and Circle's USDC revenue split since 2023 during Gary Gensler's term.

SEC Probes Coinbase and Circle's USDC Revenue Split Since 2023 Amid Circle's $1.84 Billion Capital Move

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