Coinbase board fails to block insider trading case testimony from being made public

2026-02-12 by admin

Deep Tide TechFlow reports, on February 12, according to Bloomberg, Delaware Chancery Court Judge Kathaleen St. J. McCormick ruled on February 12, 2026, that Coinbase Global Inc.’s board must disclose deposition records related to an insider trading lawsuit against CEO Brian Armstrong, venture capitalist Marc Andreessen, and other board members. The judge rejected the defense argument that ‘witnesses would be less candid if they knew their depositions might be public,’ ordering the company’s special litigation committee to disclose deposition records of angel investor Gokul Rajaram and the head of the internal investigation legal team, Joseph R. Slights III.

Deep Tide TechFlow reports, on February 12, according to Bloomberg, Delaware Chancery Court Judge Kathaleen St. J. McCormick ruled on February 12, 2026, that Coinbase Global Inc.'s board must disclose deposition records related to an insider trading lawsuit against CEO Brian Armstrong, venture capitalist Marc Andreessen, and other board members. The judge rejected the defense argument that 'witnesses would be less candid if they knew their depositions might be public,' ordering the company's special litigation committee to disclose deposition records of angel investor Gokul Rajaram and the head of the internal investigation legal team, Joseph R. Slights III.

BlockBeats News, February 12 – According to The Street, the ripple effects from the chain shock on October 11, 2025, are still reverberating through the crypto market. Today, these impacts are also reshaping the global billionaires list. Following significant declines in digital asset prices and Coinbase’s stock price, Coinbase CEO Brian Armstrong has dropped out of the Bloomberg Billionaires Index global top 500.Armstrong’s net worth has fallen by over $10 billion from its peak of approximately $17.7 billion. The Bloomberg Billionaires Index currently estimates his wealth at around $7.5 billion, placing him outside the world’s top 500 richest individuals.This decline is closely tied to Coinbase’s stock performance. As of press time, COIN stock has dropped about 64% from its high of $419 on July 18, 2025. Meanwhile, Bitcoin has also fallen by roughly half since early October.

PANews reported on February 12th that, according to Jinshi, the unexpected surge in US non-farm payrolls hit the US Treasury market, with traders reducing their bets on a Federal Reserve rate cut this year. Short-term Treasury bonds were hit hardest, with the two-year Treasury yield rising 6 basis points to around 3.51%. The money market now expects the Fed's next rate cut to occur in July, rather than the previously anticipated June. Asian stock index futures diverged after US stocks closed flat. Futures indicated a rise in Japanese stocks after their holiday break on Thursday, while the Australian benchmark stock index contract fell. This volatility suggests that the current strength of the US economy is offsetting market desires for lower borrowing costs, supporting risk sentiment. Bret Kenwell of eToro stated that investors should welcome the US jobs report, even if it gives the Fed more room to keep interest rates unchanged. He noted, "If the labor market does stabilize, that will be constructive for both the economy and the markets."

PANews reported on February 12th that Binance issued a clarification on its X platform: "Coinglass's data showing Binance's outflows has a bug, as its data comes from a third party. DefiLlama has also previously shown discrepancies. Their data will take another 24 to 48 hours to recover. We believe that regularly conducting withdrawal tests on all exchanges is a positive and healthy practice. When conducting withdrawal tests, please carefully verify the addresses. Only make withdrawals after confirming that everything is correct. All platforms should establish an annual 'withdrawal day' to verify the authenticity of their assets."