Coinbase is Reportedly Selling Geo-Location Data to ICE

Linh Nguyen — Thu, 30 Jun 2022 02:12:58 +0000

@ Crypto Insider

Watchdog group Tech Inquiry reported the new details about Coinbase’s three-year contract with the U.S. Department of Homeland Security.

Crypto exchange Coinbase analytics program, Coinbase Tracer, will provide the U.S. Immigrations and Customs Enforcement agency (ICE) with data about crypto users, including their “historical geo tracking data” and transaction history, according to a contract obtained by watchdog group Tech Inquiry,

The contract adds detail to what was previously known about the three-year deal between the crypto exchange and ICE, the law enforcement arm of the U.S. Department of Homeland Security (DHS). The Intercept initially reported the news.

A representative for Coinbase denied that the information provided by the analytics software is the exchange’s customer data.
“All Coinbase Tracer features use data that is fully sourced from online, publicly available data, and do not include any personally-identifiable information for anyone, or any proprietary Coinbase user data,” the spokesperson told CoinDesk.

The deal, which was signed last September for a maximum $1.37 million, is one of several small contracts between Coinbase and U.S. government agencies. In August 2021, Coinbase signed a smaller contract with ICE worth $29,000 to provide the agency with licenses for its analytics software. In April 2021 and May 2020, Coinbase sold licenses – both initially under $50,000 – to Coinbase Tracer to the U.S. Secret Service.

Coinbase Tracer, formerly known as Coinbase Analytics, has faced controversy before. The branch of the exchange responsible for the software’s development emerged from Coinbase’s 2019 acquisition of blockchain intelligence firm Neutrino, whose executive team previously worked with a startup that sold spyware to several governments, including Saudi Arabia, known for human rights abuses.

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NYSE Parent ICE Takes Stake in tZERO in Potential Move Toward Tokenized Stocks

Linh Nguyen — Wed, 23 Feb 2022 11:10:50 +0000

@ Crypto Insider

ICE Chief Strategy Officer David Goone will become tZERO CEO and will join its board of directors.

New York Stock Exchange parent Intercontinental Exchange Inc. (ICE) will take an ownership stake in tokenized securities venue tZERO, ICE said in an announcement on Tuesday U.S. time.

Ice’s investment will make it a “significant” minority shareholder in tZero, according to the announcement, which didn’t provide the stake size or dollar value of the transaction, while saying there will be no financial impact to ICE or its capital return plans.

Other investors in tZERO include Overstock.com, an original investor in tZERO, and Medici Ventures, a blockchain-focused fund whose general partner is an entity affiliated with Pelion Venture Partners, and others.

The alternative trading system (ATS) had been been looking for a buyer or partner since at least mid-2021, two people familiar with the plans told CoinDesk on June 2.

ICE is also majority owner of cryptocurrency exchange Bakkt, which went public via a merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings in October of last year.

The post NYSE Parent ICE Takes Stake in tZERO in Potential Move Toward Tokenized Stocks appeared first on Crypto Insider.

ICE Archives - Crypto Insider

Coinbase is Reportedly Selling Geo-Location Data to ICE

Watchdog group Tech Inquiry reported the new details about Coinbase’s three-year contract with the U.S. Department of Homeland Security.

NYSE Parent ICE Takes Stake in tZERO in Potential Move Toward Tokenized Stocks

ICE Chief Strategy Officer David Goone will become tZERO CEO and will join its board of directors.