Bitcoin Magazine

KULR Secures $20M Bitcoin-Backed Credit Facility from Coinbase Credit Today, KULR Technology Group, Inc. (NYSE American: KULR) announced it has secured a $20 million bitcoin-backed credit facility from Coinbase Credit, Inc., a subsidiary of Coinbase Global (NASDAQ: COIN).  The deal sets up a multi-draw loan facility worth up to $20 million, which KULR can access starting on the effective date. The funding will support KULR’s strategic Bitcoin accumulation goals. “This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” said the CEO of KULR Michael Mo. “It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.” In 2024, KULR chose Coinbase Prime to handle the storage and management of its Bitcoin assets, including custody, USDC, and self-custodial wallet services. Currently, Coinbase Prime is also the platform of choice for eight of the ten largest public companies holding Bitcoin. $KULR pic.twitter.com/FwezTQ2eGb— KULR Technology (@KULRTech) July 8, 2025 This latest move builds on KULR’s Bitcoin-focused financial strategy. On June 9, the company entered a Controlled Equity Offering Sales Agreement with Cantor Fitzgerald & Co. and Craig-Hallum Capital Group LLC, allowing it to sell up to $300 million of its common stock in an at-the-market (ATM) offering to further support its Bitcoin treasury reserve. Under the agreement, Cantor Fitzgerald will act as the sole sales agent, using commercially reasonable efforts to sell shares at market prices. The offering will be made under an existing shelf registration and may occur from time to time based on market conditions and company discretion. “We view our bitcoin holdings as long term holdings and expect to continue to accumulate bitcoin,” added KULR. “We have not set any specific target for the amount of bitcoin we seek to hold, and we will continue to monitor market conditions in determining whether to engage in additional bitcoin purchases.” This post KULR Secures $20M Bitcoin-Backed Credit Facility from Coinbase Credit first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Oregon’s Attorney General (AG) has filed a motion to keep the lawsuit against Coinbase in state court, following the crypto exchange’s efforts to move the litigation to federal court. Oregon Says Coinbase Case Must Stay In State Courts On July 2, Oregon’s Attorney General, Dan Rayfield, filed a motion to remand its lawsuit against Coinbase back to the Circuit Court of the State of Oregon for Multnomah County. The motion follows the crypto exchange’s attempt to move the case to federal court. In early June, Coinbase filed a notice of removal, seeking to take the action from the Oregon courts to federal court, arguing that the case raises a federal question. The exchange argues that Oregon’s state law (OSL) claims “arise under” the federal law because the state’s courts use the federal Securities Act of 1993, and the federal Howey Test, for guidance to define what constitutes an “investment contract.” However, Oregon’s motion explains that “almost 50 years ago, the Supreme Court of Oregon, sitting en banc, broke stride with Howey in its interpretation of an ‘investment contract’ under the OSL, deciding the term should be ‘modified’ to encompass a broader range of investment schemes. Pratt v. Kross, 276, Or. 483, 497 (1976).” Since then, Oregon courts have followed the Pratt Test, which applies a broader definition of investment contract. The AG noted that “because Oregon does not strictly follow the Howey test, the State’s claims here do not turn on the Howey test.” The motion claims that the lawsuit isn’t a “regulatory land grab,” as Coinbase called it. Instead, it is a “quintessential state law action” that seeks redress on behalf of Oregonians under the state’s law. Therefore, it should be “adjudicated by the state court in which the Attorney General filed it.” Oregon’s ‘Gensler-Era’ Lawsuit On April 18, Oregon’s AG filed a complaint in Multnomah County Circuit Court against Coinbase, alleging the crypto exchange had violated the Oregon securities law by facilitating the sale of unregistered cryptocurrencies to the state’s residents. As reported by Bitcoinist, the lawsuit states that the exchange “has continuously and repeatedly violated the Oregon Securities Law, which ascribes liability to persons ´who [s]ell[] or successfully solicit[] the sale of a security … in violation of the Oregon Securities Law’ (ORS 59.115(1)(a)), as well as to persons who ‘participate[] or materially aid[] in the sale’ (ORS 59.115(3)).” Following the news, Coinbase’s CLO, Paul Grewal, affirmed that Rayfield is “literally picking up where the Gary Gensler SEC left off,” adding that the lawsuit is a “copycat case” attempting to “resurrect” the Securities and Exchange Commission’s (SEC) long-criticized regulatory approach under the previous administration. The SEC sued Coinbase in June 2023, affirming that the platform operated as an unregistered broker-dealer and illegally sold unregistered securities through its staking program. However, the lawsuit was dismissed in February 2025 following the establishment of the agency’s Crypto Task Force. Oregon’s lawsuit now claims that Coinbase sold high-risk investments without properly vetting to protect consumers, which has caused significant losses for Oregonians. Notably, the case covers significantly more tokens than the SEC originally named in its case, which listed 13 tokens. The lawsuit claims that the crypto exchange offered and sold 31 cryptocurrencies as investment contracts. In a Wednesday post, Grewal called out Rayfield for attempting to send his “Gensler-era copycat” lawsuit back to state courts, affirming that it goes against the US’s recent progress developing a clear and unified framework for the industry. In most places, it’s 2025. But the Oregon AG still thinks it’s 2023 with his Gensler-era @secgov copycat suit. Yesterday, he asked the federal court to send the case back to his home state court. This pursuit of a patchwork of state regulation – especially against the historic progress towards a unified federal framework – only helps politicians and harms consumers.

The top US crypto exchange platform by trading volume is abruptly adding support for Wormhole (W), causing the native asset of the cross-chain messaging project to rally briefly. In a new announcement, Coinbase Assets says it’s adding Wormhole, an interoperability project that allows communication between blockchains, to its suite of digital asset products. “Wormhole (W) is now live on http://coinbase.com and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.” News of the addition sent W flying, as the crypto asset went from a low of $0.61 on June 27th to a peak of $0.81 just a day later. Wormhole has since retraced and is trading for $0.071 time of writing, a fractional decrease during the last 24 hours. According to its official website, Wormhole is currently compatible with numerous prominent blockchains, including Base and BNB Chain, the respective blockchains of Coinbase and Binance, the two largest crypto exchanges in the world. “A fully integrated chain can use cross-chain decentralized applications (DApps) to send and receive tokens and NFTs. It can also publish and verify messages to and from the network – meaning developers can utilize the full suite and power of Wormhole.” Other compatible chains include smart contract platforms Ethereum (ETH), Algorand (ALGO), and Avalanche (AVAX), as well as layer-2 scaling solutions Optimism (OP), Arbitrum (ARB), and Polygon (POL). Follow us on X, Facebook and Telegram
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&nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Carlos Amarillo The post Top US Crypto Exchange by Trading Volume Coinbase Adds Support for Leading Cross-Chain Messaging Protocol Wormhole (W) appeared first on The Daily Hodl.

Bitcoin Magazine

Coinbase to Launch US Nano Bitcoin Perpetual-Style Futures In July Today, Coinbase Derivatives has announced the launch of US Perpetual-Style Futures on July 21. These new futures contracts are designed to offer US traders a domestic, regulated alternative to the popular perpetual futures widely used on offshore platforms. US Perpetual-Style Futures.
Coming July 21.

→ No quarterly expiration dates
→ Spot price tracking
→ Embedded leverage
→ 24/7 availability

All on a CFTC-regulated US exchange. pic.twitter.com/NKwqyWW4n2— Coinbase (@coinbase) June 26, 2025 “We are excited to announce the upcoming launch of US Perpetual-Style Futures on Coinbase Derivatives Exchange, designed to mirror the functionality of global perpetual futures while adhering to US regulatory standards. Internationally, perpetual futures have become the dominant crypto derivatives product, representing upwards of 90% of total crypto trading activity in some reports,” stated the company. The initial launch will include nano Bitcoin Perpetual-Style Futures (0.01 BTC) and nano Ether Perpetual-Style Futures (0.10 ETH) contracts. These contracts will have five-year expirations, trade 24/7, and include a funding rate mechanism designed to keep futures prices closely aligned with spot market prices. Funding will accrue hourly and be settled twice daily during designated cash adjustment periods. Currently, many US based traders access perpetual futures through offshore platforms, which may involve regulatory, custody, and counterparty risks. The new contracts aim to eliminate those risks by offering a domestic and compliant alternative. Coinbase states that these products are intended to provide regulated exposure to the Bitcoin and crypto market with flexibility in position sizing and capital efficiency. More details on trading access through partner platforms are expected to be shared ahead of the launch. “We’re incredibly proud to bring perpetual-style futures to the US – a transformative milestone that will represent the beginning of a new era in US market access, efficiency, and innovation,” the company stated. On June 20, Coinbase obtained the European Union’s Markets in Crypto-Assets Regulation (MiCA) license from Luxembourg’s financial regulator, enabling it to operate across all 27 EU member states under a unified framework. The license allows Coinbase to serve approximately 450 million Europeans under a single regulatory framework, replacing separate licenses previously held in Germany, France, Ireland, Italy, The Netherlands, and Spain. “This milestone marks a significant step and enables us to operate under a unified, regulated crypto environment in one of the largest economic regions in the world, while solidifying Coinbase’s position as a global leader in regulatory compliance and innovation,” stated Daniel Seifert. This post Coinbase to Launch US Nano Bitcoin Perpetual-Style Futures In July first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

Coinbase is facing a new class action lawsuit claiming that investors suffered significant losses over the years due to the crypto exchange’s “omissions,” which have affected the company’s stock price. Coinbase Accused Of Key ‘Omissions’ Last week, a Coinbase investor filed a class action lawsuit in the US District Court for the Eastern District of Pennsylvania against Coinbase, CEO Brian Armstrong, and CFO Alesia Hass, alleging that the company’s shareholders have suffered “significant losses and damages” over the past four years. In the May 22 complaint, investor Brady Nessler, on behalf of persons or entities who purchased or otherwise acquired publicly traded Coinbase securities between April 14, 2021, and May 14, 2025, claims that the exchange has a long list of “wrongful acts and omissions” that have led to the “precipitous decline in the market value of the Company’s common shares” affecting the Plaintiff and other Class members. Among the omissions, the lawsuit lists the company’s recent data breach and its failure to disclose that it breached its 2020 agreement with the UK’s Financial Conduct Authority (FCA). In October 2020, the company’s UK subsidiary, Coinbase Payments (CBPL), signed a voluntary agreement to prevent onboarding clients considered “high risk” by the regulator and reduce potential criminal activity on the CBPL platform. The lawsuit alleges that the company made several “materially false and misleading” statements at the time that omitted that Coinbase Payments, Ltd. (CBPL) had been found guilty by the UK regulator of having “inadequate anti-money laundering focused systems to prevent high-risk individuals from using its platform, and that CBPL then breached the Agreement designed to address those deficiencies, creating legal exposure.” Notably, the price of the company’s common stock reportedly fell by $13.52 per share, a 5.52% decline, when a Reuters article titled “Coinbase UK unit fined for breaching financial crime requirements” was published during market hours on July 25, 2024. The FCA fined Coinbase’s UK subsidiary a $4.5 million penalty for breaching the voluntary agreement. Data Breach Leads To Class Action Lawsuits Moreover, the Class action suit argues that the recent data breaches also resulted in significant losses and damages for stockholders, highlighting the May 15 statement from the crypto exchange. As reported by Bitcoinist, Brian Armstrong shared that threat actors bribed a handful of customer support contractors to access Coinbase’s internal tools, resulting in the breach of names, email addresses, limited transaction records, and partial Social Security numbers of 1% of the exchange’s users. The hackers attempted to blackmail the exchange, demanding $20 million in Bitcoin (BTC) to return the sensitive customer data. However, Armstrong revealed they refused to pay the ransom. The lawsuit states that, following the news, the price of Coinbase’s common stock fell by $19.85 per share, a 7.2% decline, to close at $244 on May 15, 2025. Since then, multiple lawsuits have been filed against the crypto exchange, and a US Department of Justice Investigation has been opened. Based on this, Plaintiff seeks to “recover compensable damages caused by Defendants’ violations of the federal securities laws under the Securities Exchange Act of 1934 (the ‘Exchange Act’).”