13:56 EST -- Coinbase Global Inc. is one of the most talked-about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Cryptocurrency-exchange Coinbase agreed to pay a $50 million penalty to New York state's Department of Financial Services to settle accusations it allowed customers to open accounts without conducting sufficient background checks. The settlement will also require Coinbase to invest $50 million into its compliance program over the next two years. The DFS said Coinbase had made itself vulnerable to being used for serious criminal conduct, including possible money laundering. Coinbase shares were recently trading 13% higher, at $38.08. Dow Jones & Co. owns Factiva. (matthew.walker@dowjones.com)


(END) Dow Jones Newswires

01-04-23 1411ET