Coinbase’s Grand Return to India: What You Won’t Believe!

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Well now, gather ’round, folks! It seems that our old friend, the crypto exchange known as Coinbase, is dusting off its boots and planning to waltz back into the bustling bazaar of India’s crypto space. After a two-year hiatus that felt longer than a summer in the Mississippi heat, they’ve decided to give it another whirl, having recently registered with the Indian regulator – the Financial Intelligence Unit (FIU). Ain’t that a hoot? 🎩

Coinbase’s Eye on the Prize in India’s Crypto Circus

By the time the calendar flips to the end of this year, 2025, Coinbase is set to roll out retail services and a cornucopia of products. It seems they’ve caught wind of the rising demand for digital assets, much like a hound dog sniffing out a fresh bone. With the regulatory winds blowing a tad more favorably, they’re ready to jump back into the fray.

Now, let’s not forget, they’ll be squaring off against some heavyweights like Binance, KuCoin, and CoinDCX. Speaking of which, John O’Loghlen, the firm’s regional managing director for Asia Pacific, had this to say to Reuters:

“India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations.”

But hold your horses! For any cryptocurrency exchange to set up shop in India, they must first register with the FIU and play nice with the country’s money-laundering rules. After the $235 million hack of WazirX last year, the arrival of a big player like Coinbase might just sprinkle a little legitimacy on this wild west of digital currency. 🤠

Ark Invest Snags a Whopping 64,358 COIN Shares

Now, while the COIN stock took a nosedive of 17.58% on Monday, Cathie Wood’s Ark Invest decided to dive right in, scooping up a staggering 64,358 shares. Talk about a shopping spree! 🛒

The Story is Building further…..

 

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2025-03-11 14:05