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Home/Markets & Investing/COINBASE · CRYPTO MONEY LAUNDERING ENFORCEMENT

Coinbase Infrastructure Enabled Underage Gambling on Stake.us

TD

Taylor Davenport

Coinbase · Apr 16, 2026

Coinbase Infrastructure Enabled Underage Gambling on Stake.us

Source: DojiDoji Data Terminal

A minor user suffered years of financial losses and addiction-related injury before reaching the legal gambling age. This outcome resulted from the recruitment of minors to gamble on Stake.us, a U.S.-facing sweepstakes platform. The platform operates as a gateway for Stake.com, an offshore gambling operation that uses the sweepstakes model to bypass U.S. regulatory restrictions.

Related Brief1d ago
cryptocurrency

Solana's $10.71B DEX volume surpasses Coinbase and Kraken, signaling shift to on-chain trading

Solana’s decentralized exchanges processed $10.71 billion in trading volume, exceeding the combined 24-hour volume of Coinbase and Kraken. This shift toward on-chain trading occurred amid rising cryptocurrency market volatility fueled by US-Iran geopolitical tensions. Traders appear to be favoring non-custodial platforms, suggesting a growing preference for decentralized infrastructure when traditional markets face uncertainty. The surge in DEX volume on Solana reflects not just increased activity but a structural move toward trustless trading environments. Network performance held under pressure, reinforcing confidence in Solana’s capacity to support high-intensity financial activity during global stress events.

Coinbase provided the financial rails for this activity. The lawsuit filed in New York alleges that Coinbase knowingly supplied the routing and payment infrastructure that made repeated wagering possible. By facilitating the conversion and transfer of funds, Coinbase provided the compliance evasion mechanism necessary to bypass New York State anti-gambling restrictions and traditional banking safeguards.

Related Brief4h ago
cryptocurrency

Mixin absorbs transaction spreads to eliminate Coinbase onboarding friction

Users receive the full value of their cryptocurrency purchases through a new integration between the self-custodial privacy wallet Mixin and Coinbase Onramp. Mixin covers transaction spreads up to $20 per transaction to remove onboarding friction. This allows users to purchase crypto using Apple Pay or other fiat methods directly within the Mixin app. Coinbase handles all identity verification and payment processing, while Mixin does not store sensitive personal or payment data. According to Sonny Liu, CMO of Mixin, the integration is intended to remove the final layer of friction. The purchase process now takes as little as 60 seconds. The platform, which serves 10 million users globally and manages over $1 billion in user-controlled funds, supports over 40 blockchains and 10,000 assets.

Judge Dakota Ramseur issued an Order to Show Cause on April 14, setting a hearing for May 19 in the New York Supreme Court. The case is part of a broader legal challenge against Stake.us, which faces similar allegations of operating as an illegal online casino in Illinois, Alabama, Missouri, California, Minnesota, Mississippi, New Mexico, Utah, Virginia, and Ohio. The Los Angeles City Attorney also initiated an enforcement action in 2025 seeking to recover losses from residents, and Baltimore recently filed a civil lawsuit against Stake and five other sweepstakes operators.

Related Brief2d ago
cryptocurrency

Coinbase Conditional Approval for National Trust Charter Bridges Traditional Banking Gap

Institutional clients can now be served under federal oversight as Coinbase moves toward federal banking status. The company has received conditional approval for a U.S. national trust charter, which allows it to operate as a federally regulated crypto custodian. This charter positions Coinbase within the U.S. banking framework.

Coinbasecrypto money laundering enforcementcrypto IRS ruling

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