Coinbase News: Re-entry into the Indian Market After Regulatory Approval

Coinbase, a leading cryptocurrency exchange, has made a significant move by re-entering the Indian market. Here’s a closer look at the developments that led to this decision and what it means for the future of digital finance in India.

Coinbase Re-enters India After Securing Regulatory Approval

Coinbase has re-entered the Indian market after obtaining approval to register with the country’s Financial Intelligence Unit (FIU). This move follows President Donald Trump’s support for digital assets. The company halted operations in India in 2022 due to informal pressure from the central bank, but it is now planning a comeback in one of the world’s fastest-growing markets for digital finance. Coinbase will initially offer limited operations and retail trading services.

Solana Whale Sells 108,688 SOL at a Loss

A whale transferred 108,688 SOL tokens to USDC worth $12.2 million in a single transaction, selling them at $112.3 per SOL token. The transaction occurred following the lowest price figure for that trading day, leading to a loss of $7.48 million for the whale, who had acquired the SOL tokens 11 months ago when they were priced at $181. The transaction took place amid intensified price fluctuations in the cryptocurrency markets, resulting in Solana’s downward trend. This major selling activity by a large shareholder indicates potential liquidity problems and negative market expectations from high-net-worth individuals.