Coinbase is fighting back as the SEC closes in on Tornado Cash
Six individuals are challenging the Treasury Department. Two seemingly separate stories. One terrifying precedent. It’s all about privacy.
Tag: Coinbase
Celer Bridge incident analysis
Tl;dr: In this piece we share critical lessons about the nature of the Celer Bridge compromise, attacker on-chain and off-chain techniques and tactics during the incident, as well as security tips for similar projects and users. Building a better crypt…
Crypto investors backed by Coinbase sue U.S. Department of Treasury after Tornado Cash sanctions
Coinbase says that the Treasury overstepped its authority in issuing the Tornado Cash sanctions.
Sanctions Should Target Bad Actors. Not Technology.
Tl;dr: Coinbase is funding a lawsuit brought by six people challenging the US Treasury Department’s sanctions of the Tornado Cash smart contracts and asking the Court to remove them from the U.S. sanctions list. The lawsuit explains that OFAC exceeded …
Defending Privacy in Crypto
Tl;dr: Coinbase is funding a lawsuit brought by six people challenging the U.S. Treasury Department’s sanctions of the Tornado Cash smart contracts and asking the Court to remove them from the U.S. sanctions list. The sanctions exceed Treasury’s author…
Real-time reconciliation with Overseer
Tl;dr: A common challenge with distributed systems is how to ensure that state remains synchronized across systems. At Coinbase, this is an important problem for us as many transactions flow through our microservices every day and we need to ensure tha…
How Coinbase Protects Users From Risky Assets
By Dan Kim — Vice President, Business Development — Ecosystem and ListingsTl;dr: Coinbase reviews thousands of crypto tokens; around 90% never get considered for listing as they do not meet our strict requirements for protection against scams like “pum…
Coinbase Cloud launches Solana Archival Nodes to empower the Solana developer community
by Coinbase Cloud teamSep 6 — We have updated this post to more accurately describe our product by clarifying that the Solana Archival product is a blockstore of historical transactions, not an archive of account state at every point in time.Tl;dr: Coi…
Building a Python ecosystem for efficient and reliable development
Tl;dr: This blog post describes how we developed an efficient, reliable Python ecosystem using Pants, an open source build system, and solved the challenge of managing Python applications at a large scale at Coinbase.By The Coinbase Compute Platform Te…
A simple guide to the web3 developer stack
A guide to the projects and companies working to make web3 development as easy as web2Around the Block, from Coinbase Ventures sheds light on key trends in crypto. Written by Jonathan King, Connor Dempsey, & Hoolie TejwaniSpecial thanks to Mike Arm…
Decentralization, privacy, and a credibly neutral Ethereum
Tl;dr: The following post recaps this episode of Coinbase’s Around The Block podcast in which Viktor Bunin hosts Coinbase CEO Brian Armstrong and Ethereum co-founder Vitalik Buterin discuss decentralization, privacy, and a credibly neutral Ethereum.By …
Compliance and Protecting Personal Information
tl;dr How we protect personal information while complying with existing laws and regulations.By Melissa Strait, Chief Compliance OfficerRecently, we’ve received questions about why we occasionally review specific accounts and ask for more detailed pers…
Celsius Network coin report shows a balance gap of $2.85 billion: Finance Redefined
Majority of the DeFi tokens traded in red with several registering double digit losses over the past week.
Study: Insider trading occurs in 10% to 25% of cryptocurrency listings
The study found abnormal levels of return in a sample of tokens just before their listing announcement on Coinbase.
USDC: The digital dollar for the global crypto economy
TL;DR: Coinbase believes crypto will be part of the solution for creating an open financial system that is both more efficient and more equitable. We co-founded the Centre Consortium in 2018 to invest in the build of USDC, and since then it has become …
Crypto Biz: A Futurist take on crypto
The 2022 Blockchain Futurist conference in Toronto, Canada wrapped up this week. DeFi and institutional adoption of crypto were high on the agenda.
S&P Global downgrades Coinbase credit rating for weak Q2 earnings, competitive pressures
Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors.
Institutional staking won’t take off unless asset lock-up solved: Coinbase CFO
Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out.
Is the Bitcoin Lightning Network for real?
Around the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey & Sam NewmanIn the 13 years of its existence, Bitcoin has risen from obscurity to $1 trillion highs, settling over $60 trillion in total transfer…
Nomad Bridge incident analysis
Tl;dr: Building a better crypto ecosystem means building a better, more equitable future for us all. That’s why we are investing in the larger community to make sure anyone who wants to participate in the crypto economy can do so in a secure way. In th…
2 metrics signal the $1.1T crypto market cap resistance will hold
Despite a handful of the top-80 coins gaining 12% or more over the past week, Tether’s premium in Asia and futures markets activity show buyers lacking confidence.
Coinbase hit with 2 fresh lawsuits amid SEC probe
In both cases, plaintiffs allege Coinbase made fraudulent and misleading statements about the company’s business, operations and compliance efforts throughout the class period.
Coinbase Partners With World’s Largest Asset Manager Blackrock to Give Aladdin Clients Access to Cryptocurrencies
On August 4, the head of Coinbase Institutional, Brett Tejpaul, and the vice president of institutional product, Greg Tusar, announced that Coinbase has been selected by the financial giant Blackrock to provide the firm’s Aladdin platform access to cryptocurrencies. Blackrock Chooses Coinbase to Connect Aladdin Clients to Crypto Coinbase’s institutional arm will help the world’s […]
Coinbase to provide crypto services to BlackRock institutional clients
Coinbase has announced a new partnership with BlackRock to provide direct crypto services for its institutional clients using Aladin –an end-to-end investment management platform of the asset manager.
The post Coinbase to provide crypto services to BlackRock institutional clients appeared first on CryptoSlate.
Coinbase selected by BlackRock; provide Aladdin clients access to crypto trading and custody via…
Coinbase selected by BlackRock; provide Aladdin clients access to crypto trading and custody via Coinbase PrimeTl;dr: Coinbase and BlackRock to create new access points for institutional crypto adoption by connecting Coinbase Prime and AladdinBy Brett …
Coinbase Prime grows its staking offering with ETH
Tl:dr: We’re launching Ethereum staking to US domestic institutional clients on Coinbase Prime. Using our industry-leading cold storage, clients can now generate yield by staking ETH.By Aaron Schnarch, Vice President of Product, CustodyFully-integrated…
Crypto Biz: Elon Musk: The ultimate crypto tourist
Tesla’s foray into Bitcoin may have been one big distraction for the electric vehicle maker, which reported mixed financial results earlier this month.
Introducing Coinbase Security Prompt — a safer and easier way of signing into Coinbase
Introducing Coinbase Security Prompt — a safer and easier way of signing into CoinbaseSiyu Liu, Senior Product Manager; Chetan Rane, Product ManagerTl;Dr: We are excited to introduce the Coinbase Security Prompt: a faster and safer way for our users to…
Security PSA: Search engine phishing
Tl;dr: Search engine phishing exploits the trust we have in search engines and the convenience of searching for something rather than remembering the domain. The following piece outlines what search engine phishing attacks may look like and how Coinbas…
Coinbase Disputes SEC’s Allegation That the Exchange Lists 9 Crypto Securities
Nasdaq-listed crypto exchange Coinbase has disputed the allegation by the U.S. Securities and Exchange Commission (SEC) that nine of the crypto assets traded on its platform are securities. The company’s chief legal officer stressed: “Coinbase does not list securities. End of story.” Coinbase Insists It Does Not List Crypto Asset Securities The U.S. Securities and […]
SEC Slaps Former Coinbase Manager With Insider Trading Charges — Identifies 9 Crypto Tokens as Securities
The U.S. Securities and Exchange Commission (SEC) has announced insider trading charges against a former Coinbase manager, who has been arrested and is also facing criminal charges. The regulator has identified nine crypto tokens as securities in the complaint. U.S. Attorney Damian Williams says it is “the first-ever insider trading case involving cryptocurrency markets.” SEC […]
Coinbase wins Best Prime Broker Award
by Brett Tejpaul, Head of Coinbase Institutional, and Elke Karskens, Head of EMEA MarketingWe recently won the Best Prime Broker Award in Hedgeweek’s annual European Digital Assets Awards. This success not only underlines the strength of our platform a…
Coinbase denies listing securities, says SEC should provide regulatory framework
Coinbase has strongly denied that it listed securities on its platform, according to a July 21 blog post by Paul Grewal, the firm’s Chief Legal Officer.
The post Coinbase denies listing securities, says SEC should provide regulatory framework appeared first on CryptoSlate.
Coinbase Confirms ‘No Financing Exposure’ to Bankrupt Crypto Firms Celsius, Voyager, Three Arrows Capital
Crypto exchange Coinbase has confirmed that the company “had no financing exposure” to bankrupt firms, including Celsius Network, Voyager Digital, and Three Arrows Capital (3AC). “The issues here were foreseeable and actually credit-specific, not crypto-specific in nature,” Coinbase stressed. Coinbase: ‘We Have Not Engaged in These Types of Risky Lending Practices’ The Nasdaq-listed cryptocurrency exchange […]
Coinbase does not list securities. End of story.
By Paul Grewal, Chief Legal OfficerTl;dr: Coinbase does not list securities on its platform. Period.We have said it before, but given today’s events, it bears repeating.Earlier today, following a Department of Justice (DOJ) investigation into a former …
SEC listing 9 tokens as securities in insider trading case ‘could have broad implications’ — CFTC
CFTC Commissioner Caroline Pham took issue with the SEC labeling certain crypto assets as securities in an example of “regulation by enforcement.”
US authorities arrest former Coinbase manager, alleging insider crypto trading
Three people allegedly used multiple Ethereum wallets to make purchases of certain tokens in advance of at least 14 separate Coinbase public listing announcements.
The Crypto Securities Market is Waiting to be Unlocked. But First We Need Workable Rules.
TL;DR:Coinbase filed a petition asking the SEC to begin rulemaking on digital asset securities.The existing rules for securities just do not work for digital assets.Our petition calls on the SEC to develop a workable regulatory framework for digital as…
Coinbase Ventures Q2 investment memo
Coinbase Ventures Q2 recap and market outlookAround the Block sheds light on key trends in crypto. Written by Connor Dempsey, sourced from the work and insights from the entire team at Coinbase Ventures & Corp DevTLDR:Coinbase Ventures deal activit…
Coinbase stock has potential to double in 2022 after plunging 90% from record high
COIN stock can rally to $160 by the end of the year, a mix of technical and fundamental indicators suggest.
Trade Republic, Crypto.com Register as Cryptocurrency Operators in Italy
German investment platform Trade Republic and digital asset exchange Crypto.com have registered as crypto service providers in Italy. Since February, the financial authorities in Rome maintain a registry for all cryptocurrency platforms permanently operating in the country. More Companies Register as Providers of Crypto Services in Italy Germany-based investment platform Trade Republic and Singapore-headquartered digital […]
Crypto firms facing insolvency ‘forgot the basics of risk management’ — Coinbase
“The issues here were foreseeable and actually credit specific, not crypto specific in nature,” said three department heads at Coinbase.
Institutional Insights: Our Approach to Crypto Financing
Tl;dr: In recent weeks, some firms have struggled to remain solvent due to insufficient risk controls. See how Coinbase implements secure and comprehensive risk management practices that enable institutions to successfully navigate the cryptoeconomy.By…
US Congressman questions SEC’s lack of action against ‘big fish’ exchanges if Ripple is a security
US lawmaker Brad Sherman has questioned why the Securities and Exchange Commission (SEC) has not gone after crypto exchanges facilitating Ripple (XRP) trades if it considers it to be a security.
The post US Congressman questions SEC’s lack of action against ‘big fish’ exchanges if Ripple is a security appeared first on CryptoSlate.
Breaking: Zipmex suspends withdrawals as CEO denies financial trouble rumors
The CEO of Thai crypto exchange Zipmex denied rumors of financial trouble just moments before the group announced it would pause withdrawals on the platform.
Crypto Exchange Gemini Axes 7% of Its Staff in Second Wave of Layoffs
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, is laying off more staff. According to reports, the company is axing 7% of its current workforce, as it engages in significant cost-cutting policies. This is the second wave of layoffs at Gemini, after the company laid off 10% of its staff less than two months […]
Coinbase Obtains Regulatory Approval to Provide Crypto Services in Italy
Nasdaq-listed cryptocurrency exchange Coinbase has obtained regulatory approval to offer crypto services in Italy. “Coinbase is committed to bringing the power of our full product suite to customers across Europe,” the company said. Coinbase Approved in Italy Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Monday that it has secured regulatory approval to provide crypto services in […]
Glassnode data shows Binance’s Bitcoin holdings surpass Coinbase
Popular crypto analyst Will Clemente, citing Glassnode data, revealed that Binance now holds more Bitcoin (BTC) units than its rival Coinbase.
The post Glassnode data shows Binance’s Bitcoin holdings surpass Coinbase appeared first on CryptoSlate.
Coinbase secures crypto asset service provider approval in Italy
Coinbase started providing its cryptocurrency services in Italy a while ago, offering Coinbase card services in the country as of June 2019.
Coinbase secures Crypto Asset Service Provider approval in Italy
Coinbase secures Crypto Asset Service Provider approval in Italy 🇮🇹Tl;Dr: By meeting the regulatory requirements, Coinbase will continue to offer crypto services in Italy, and has a clear path to bring new products and features to market in the country…
Opensea Cuts 20% of the NFT Market’s Staff, Citing ‘Crypto Winter’ and ‘Macroeconomic Instability’
The largest non-fungible token (NFT) marketplace by trade volume, Opensea, has announced the company has let 20% of its staff go after CEO Devin Finzer said the layoffs were due to a combination of “crypto winter and broad macroeconomic instability.” Opensea’s decision follows the startup surpassing $31 billion in all-time NFT sales volume, and the […]
Crypto trading volume plunges to 18-month low, Coinbase feels the pinch
Cryptocurrency trading volumes fell to their lowest point since 2020 at the end of June due to current market conditions, Bloomberg News reported.
The post Crypto trading volume plunges to 18-month low, Coinbase feels the pinch appeared first on CryptoSlate.
OpenSea lays off 20% of its staff, citing ‘crypto winter’
The bear market in Bitcoin and altcoins has had a negative impact on staffing levels at major crypto companies, including exchanges, lending platforms and marketplaces.
Quantitative Crypto Insight: A systematic crypto trading strategy using perpetual futures
Tl;dr: Perpetuals futures are financial instruments that have become increasingly popular in the crypto space. Coinbase demonstrates a hypothetical simple delta neutral strategy which takes advantage of positively skewed funding rates in the perpetual …
Why Coinbase is banning slide decks and ‘endless meetings’
Coinbase CEO Brian Armstrong is looking for enhanced efficiency from its internal teams, noting that rapidly growing firms often become complacent and slow.
Operating efficiently at scale
By Brian Armstrong, CEO and Co-founderAs companies scale, they usually slow down and become less efficient. It takes more dollars, more people and more time to get anything done. Coordination headwinds increase, vetocracies emerge, risk tolerance fades…
A research platform for the entire cryptoeconomy: Coinbase Prices is now Coinbase Explore
TL;DR — We’ve upgraded Coinbase Prices and rebranded it as Coinbase Explore to provide users with a single platform to research the entire cryptoeconomyBy Akshay Ramaswamy and Emmanuel GohThe cryptoeconomy is about far more than buying and selling and …
Despite the Price Drop, Number of Bitcoin Held on Exchanges Continues to Slide
Roughly 49 days ago, the number of bitcoin held on exchange was around 2.503 million, according to statistics recorded by cryptoquant.com. Since then, $4.76 billion worth of bitcoin has been removed from centralized crypto exchanges, as there’s 2.275 million held on trading platforms today. Glassnode reported on July 5, that despite bitcoin’s “weak price-action through […]
Data Suggests Buying On Coinbase Behind The Bitcoin Pump
Data shows the Bitcoin Coinbase premium gap has surged up to positive values, suggesting that buying from investors on the exchange could be behind the pump to $22k.
Bitcoin Coinbase Premium Gap Observes Sharp Rise To Positive Values
As pointed out by …
EU-regulated firm Banking Circle adopts USDC stablecoin
Banking Circle was launched in 2016 with a mission to help payments businesses reach new global markets, avoiding the burdens of traditional banking.
Coinbase Shows Crypto Market Performing Similar To Other Traditional Markets
Crypto coins exhibited exponential growth through the years, raising attention to the crypto space. There was no correlation between crypto performance and the conventional stocks of different commodities. However, all that seems to be fading into thin air from the recent activities and trends of digital assets. The chief economist of Coinbase, a crypto exchange, has reported a change in the risk profile of crypto assets. According to the analysis from Cesare Fracassi, crypto performance is similar to those of stock commodities. This means that prices of crypto assets now share the same trend as stocks like pharmaceutical, oil and gas, tech, etc. Suggested Reading | Sandbox (SAND) Having A Blast With 12% Spike In 24 Hours Fracassi gave his observation on July 6 through a blog post. He stressed the 2020 global pandemic marked the increase of the correlation between the prices of digital assets and stock. In his explanation, Fracassi cited that Bitcoin returns gave more significant proof for the similarities in the trend. According to his argument, the average BTC returns over the past decade have shown no correlation to stock market performance. However, the trend twisted from the onset of the COVID pandemic. In Fracassi’s analysis, the current market movements are taking along crypto assets. Hence, cryptocurrency price trends and risk profiles are no longer separate from the flow within the overall financial system. Crypto Volatility Shows Similarities to Commodity Stocks In support of his explanation, Fracassi pointed out Coinbase’s May report highlighting the volatility trend for BTC and Ether. According to the monthly insight report, the two leading cryptocurrencies show a daily swing between 4% and 5%. Such fluctuations indicate similarities to commodities like natural gas and oil. Suggested Reading | ATOM Rises To Multi-Week High, Daily RSI Shows Bullish Pattern Further observation showed that the natural precious metals gold and silver showed a daily volatility range of 1% to 2%. These values are far lower risk profile than Bitcoin, the digital gold. Fracassi’s argument stated that digital assets should receive exposure to macro-economic forces obtainable in the financial system. He reasoned that such action would move cryptocurrency since they are correlated to the general system in risk profiles. The economist analyzed market cap and volatility with additional comparisons of crypto tokens with commodities. He linked Ethereum and Lucid (LCID), an electric car manufacturer, and Moderna (MRNA), a pharmaceutical firm. On the part of Bitcoin, he linked it to Tesla (TSLA), the electric car manufacturer. The economist mentioned that the current crypto bear market has contributed to these similarities. But, according to his analysis, two-thirds are linked to macro factors like hovering economic recession and inflation. The other one-third is linked to the ordinary weakening outlook attributed to cryptocurrency. Some experts and analysts share the opinion that the role of macro factors in the declining crypto market is a plus for the industry. Featured image from BBC, chart from TradingView.com
Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’
Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over […]
Bitstamp introduces ‘inactivity fee’ to shore up revenue
Crypto exchange Bitstamp has announced it will start charging an inactivity fee of €10 per month from August 1.
The post Bitstamp introduces ‘inactivity fee’ to shore up revenue appeared first on CryptoSlate.
Coinbase Institute Research: Crypto Prices and Market Efficiency
By Cesare Fracassi, Chief Economist, Coinbase InstituteTL;DR: How should we evaluate the recent highs and lows of crypto prices? In taking a market efficiency view, crypto prices are a reflection of the market’s assessment of the future prospects of di…
Circle’s USDC on track to topple Tether USDT as the top stablecoin in 2022
The USDT-to-USDC market cap ratio fell to its lowest ever in July 2022.
Coinbase Responds to Reports of Selling Customer ‘Geo Tracking’ Data to US Government
The Nasdaq-listed cryptocurrency exchange Coinbase has insisted that it does not sell “proprietary customer data” after reports surfaced that its Tracer product is providing “historical geo tracking data” to the U.S. Immigrations and Customs Enforcement (ICE). Coinbase Responds to Reports of It Selling Customer Data to U.S. Government Cryptocurrency exchange Coinbase came under fire last […]
Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip
Coinbase, Three Arrows Capital and MicroStrategy headline the latest business news from the world of blockchain.
June roundup: Who’s hiring and who’s firing in the crypto space
Binance, Ripple and Kraken are hiring, while Coinbase, Gemini, and Crypto.com have announced staff cuts.
Introducing our NFT Dapp Starter Kit for Developers
TL;DR: We’re providing developers with an open-source starter kit that can be used to kickstart dapp development for NFT minting sites. Happy building!By JM Cho, software engineer for Coinbase WalletLast year, the NFT market experienced its best year y…
Building Across Europe
Tl;dr: As we continue to grow our presence in the UK and Europe, we have met with policymakers in the UK, established a regional Centre of Excellence in Ireland, strengthened operations in DACH with our first hire in Switzerland, and are expanding our …
Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive
The worst month and quarter since 2011 for Bitcoin come as Michael J. Burry warns U.S. stocks are only halfway done with their declines.
Coinbase Reveals European Expansion Plan — Seeks Licenses in Spain, Italy, France, Netherlands
Cryptocurrency exchange Coinbase has revealed its plan to expand in several European markets. The company is reportedly in the process of registering a crypto exchange in Spain, France, Italy, and the Netherlands. Coinbase Expanding in Europe Coinbase Global Inc. (Nasdaq: COIN) is reportedly planning to expand operations in Europe, Bloomberg reported Wednesday, citing an interview […]
Coinbase providing customer geolocation data to ICE: Report
The U.S. government agency is reportedly using Coinbase Tracer to access customers’ historical geo-tracking data and transactions on over a dozen cryptocurrencies.
Rap Star Snoop Dogg Believes Crypto Industry Will Bounce Back — Crash ‘Weeded’ Out Bad Apples
This week, the rapper Snoop Dogg spoke about the crypto crash in an interview with CNBC on Tuesday and explained that he believes the cryptocurrency economy will bounce back. Snoop said that he feels like the crash “‘weeded’ out all of the people” that were not supposed to be in the space in the first […]
Announcing the Relay VSCode extension
Tl;dr: Coinbase is introducing its innovative VSCode extension created in collaboration with the Relay team, for the Relay GraphQL client, which is available for developer use now.By Terence Bezman, Coinbase Senior Software EngineerIn collaboration wit…
Coinbase seeking aggressive European expansion amid crypto winter
Coinbase is already licensed to trade cryptocurrencies in the United Kingdom, Ireland and Germany.
Coinbase Expands Staking Offerings to Include Solana
Tl;dr: Today, Coinbase is announcing an easy and secure way for eligible customers to earn staking rewards on Solana (SOL).By Thorsten Jaeckel, Senior Product ManagerAt Coinbase, we’re focused on offering more ways for customers to earn crypto rewards….
Coinbase Commerce Updates: Faster Payments, No Fees, More Currency Options
Tl;dr: We’re announcing two big updates to our Commerce platform: instant, free payments from Coinbase users to Commerce merchants, and seven new cryptocurrencies that can be used for payments through Commerce.One of Coinbase’s goals is to become a pla…
Goldman Sachs Downgrades Coinbase to Sell Rating — Analyst Says Firm Needs to Make Cost Base Reductions
Analysts from the multinational investment bank and financial services company Goldman Sachs Group Inc. have downgraded Coinbase Global Inc. in a note to investors on Monday. Today, Coinbase shares are down 83.68% from the stock’s all-time high (ATH) in November 2021. Goldman analyst William Nance explained that his group of market strategists believes “Coinbase will […]
Goldman Sachs says Coinbase may need to sack more workers; downgrades its stock rating to sell
Leading investment bank Goldman Sachs has downgraded Coinbase’s stock rating to sell from neutral and reduced its price target from $70 to $45 in its latest note, CNBC reported June 27.
The post Goldman Sachs says Coinbase may need to sack more workers; downgrades its stock rating to sell appeared first on CryptoSlate.
Goldman Sachs downgrades Coinbase stock to ‘sell’
The United States cryptocurrency exchange has seen its stock price plunge in lockstep with Bitcoin, Ether and the broader digital asset market.
Netherlands-Based Coinbase Customers Required to Submit KYC Data When Transferring Crypto off the Platform
Coinbase has announced that the company plans to introduce a number of changes for customers in the Netherlands in order to comply with the 1977 Sanctions Act, a law that recently applied know-your-customer (KYC) guidelines to non-custodial wallets. If the person living in the Netherlands wants to send crypto to a third-party wallet via Coinbase, […]
Bitcoin Coinbase Premium Gap Approaches Zero, Selloff Ending?
On-chain data shows the Bitcoin coinbase premium gap has improved recently and is now approaching a neutral value, suggesting the selling pressure may be drying up.
Bitcoin Coinbase Premium Gap Close To Zero, But Still Negative
As pointed out by an ana…
web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approach
web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approachTl;dr: The replatforming of Coinbase Wallet’s mobile app reflects our commitment to improving access to web3. In this blog, we discuss why the transition to…
Coinbase Derivatives Exchange Reveals Nano Bitcoin Futures Product
On June 27, Coinbase Derivatives Exchange (formerly Fairx exchange) announced it will launch its first crypto derivatives investment vehicle pegged to the value of 1/100th of a bitcoin. The new “nano bitcoin futures” product will be listed under the ticker “BIT.” Coinbase derivatives are regulated by the Commodity Futures Trading Commission (CFTC). Coinbase Introduces BIT, […]
Moody’s downgrades Coinbase due to bear: Warns it may not be the last
Moody’s said further downgrades could follow if Coinbase doesn’t diversify from its current revenue model or it’s unable to turn a profit even in a prolonged bear market.
Coinbase Derivatives Exchange to make nano bitcoin futures available through leading brokers
Tl:dr:Coinbase Derivatives Exchange (formerly FairX) will launch its first listed crypto derivatives product on June 27, 2022: Nano Bitcoin futures contract (BIT), with each contract sized at 1/100th of a bitcoin.Upon the June 27th launch, BIT futures …
Send and receive crypto on multiple networks, starting with Polygon and Solana
TL;DR: Over the next month, eligible Coinbase customers will be able to send and receive ETH, MATIC, and USDC on Polygon, and USDC on Solana. The Polygon integration marks the first time Coinbase has enabled the ability to send and receive these assets…
Coinbase to track off-exchange transactions from Dutch customers
Dutch users need to provide the recipient’s full name, the purpose of transfer and full residential address to move digital assets off the platform.
Coinbase to shut down Coinbase Pro to merge trading services
Launched in 2018, Coinbase Pro is designed to feature unlimited trading volumes, supporting more than 250 cryptocurrencies.
Hello Advanced Trade, goodbye Coinbase Pro
Tl:drLater this year, we’ll begin sunsetting Coinbase Pro to migrate all advanced trading into one unified Coinbase account, bringing customers access to popular features like staking, Borrow, dapp wallet, and Coinbase Card from a single platform balan…
Making web3 more accessible and intuitive — meet the new Coinbase Wallet mobile app
Making web3 more accessible and intuitive — meet the new Coinbase Wallet mobile appBy Sid Coelho-Prabhu, Director of Product Management, and Jeff Hinojosa, Product ManagerTl;dr We have completely redesigned the Coinbase Wallet mobile app to be more int…
Crypto companies pull out of sponsorship deals amid market downturn
New York Post reveals that cryptocurrency companies are cutting costs by pulling out of sponsorship and marketing deals as the crypto market crashed to its lowest in almost two years.
The post Crypto companies pull out of sponsorship deals amid market downturn appeared first on CryptoSlate.
FTX CEO blames Fed Reserve for bear market, will step in to prevent ‘contagion’
FTX CEO and founder Sam Bankman-Fried (SBF) said the downturn in the crypto market is driven by the aggressive rate hikes introduced by the United States Federal Reserve to counter the rising inflation, he said during an interview with NPR.
The post FTX CEO blames Fed Reserve for bear market, will step in to prevent ‘contagion’ appeared first on CryptoSlate.
Class-Action Lawsuit Accuses Terraform Labs of Misleading Investors
Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP. […]
Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD
The cryptocurrency exchange is accused of failing to do due diligence, among other things, after users lost large sums as a result of the depegging of stablecoins.
Crypto Biz: Crypto carnage pushes Celsius, Three Arrows Capital closer to insolvency, June 9-16
It has been a chaotic week for digital assets. Two firms may be inching closer to insolvency while Coinbase, one of the largest crypto exchanges, laid off almost a fifth of its staff.
Coinbase Layoffs Extends to Southeast Asia Operations
Laid-off Coinbase employees will get a minimum of 14 weeks of severance, and an additional two weeks for every year of employment.
The post Coinbase Layoffs Extends to Southeast Asia Operations appeared first on BitPinas.
Kraken CEO lashes out against some employees for being ‘bad fit’
Kraken CEO Jesse Powell lashed out on Twitter against some employees for going against the company’s crypto-first culture, saying that around 20 people out of its 3,200 workforce were not fit for the organization.
The post Kraken CEO lashes out against some employees for being ‘bad fit’ appeared first on CryptoSlate.
FINRA may hire employees terminated from crypto firms: Report
“Anybody who is getting laid off from a crypto platform and wants to work for FINRA, give me a call,” said president and CEO Robert Cook.
BitMex Founder Arthur Hayes highlights danger of further decline in Bitcoin, Ethereum prices
BitMex co-founder Arthur Hayes said that a further dip in Bitcoin (BTC) and Ethereum (ETH) prices below their current threshold could be disastrous for the market.
The post BitMex Founder Arthur Hayes highlights danger of further decline in Bitcoin, Ethereum prices appeared first on CryptoSlate.
Coinbase Reduces the Size of the Firm’s Workforce by 18%
Amid the crypto market carnage, the digital currency exchange Coinbase revealed it has decided to lay off 18% of its workforce. The announcement follows the company’s original plans to slow the hiring process and the firm rescinding a number of employment offers. Coinbase ‘Grew Too Quickly,’ Crypto Exchange CEO Says On June 14, Coinbase published […]
Crypto exchange Coinbase slashes staff by 18% amid bear market
After initially slowing down hiring, Coinbase announced plans to reduce its headcount by 18%, with the CEO citing a starting economic recession.
A message from Coinbase CEO and Cofounder, Brian Armstrong
By Brian Armstrong, CEO and CofounderEarlier today, I shared the following note with all Coinbase employees.Team,Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downtu…
Crypto Lending Company Blockfi Cuts Staff by 20%
On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to […]
Binance CEO says firm is ‘expanding hiring’ despite market crash
Binance CEO Changpeng Zhao (CZ) has said that the bear market is a great time for crypto companies to hire more people and increase investments, Bloomberg News reported June 13.
The post Binance CEO says firm is ‘expanding hiring’ despite market crash appeared first on CryptoSlate.
Scaling Node Operations at Coinbase
Tl;dr: This blog shares insights on how Coinbase is investing in new tools and processes to scale its node operations.By Min Choi, Senior Engineering Manager — Crypto ReliabilityBlockchain nodes power almost every user experience at Coinbase. We use th…
Brian Armstrong Says Crypto Can Beat Inflation, What Does The Chart Suggest?
The boss of one of America’s leading centralized crypto exchanges, Coinbase, explained that Bitcoin could become the new global gold standard. He believes that the digital asset can revamp America’s fighting chances against the oncoming challenge from China. Brian Armstrong, the CEO, and Founder of the Coinbase crypto exchange, spoke about the broader crypto market during the months-long price decline and the way forward for the firm. Armstrong also shared his view on Ray Dailo’s theory, explaining that the growth of cryptocurrency may spur a novel world order. Thus, the decentralized West can properly contend against the centralized East. Using Crypto As A Hedge Armstrong spoke about the ongoing bearish market relative to the ones before it in a recent interview with our sources. However, he highlighted that the current market trend displayed distinct features this time. According to him, the primary reason might be that digital assets are now more accepted and have more use-cases than in the previous bear market cycles. Related Reading | Bitcoin Open Interest Falls As Price Dips Below $31,000 However, sadly, there wasn’t any blow-off top happening to the prices of coins. This also implies that more than 85% of the tokens may never again hit their all-time high prices. He also said that this distinction in the present cycle condition was partly a result of the macroeconomic environment that intensified the cryptocurrency bearish market. But, more importantly, investors and traders consider digital assets as unstable as risky tech stocks. On another end, Armstrong explained that he believes the entire DeFi market capitalization needs to grow by over 5 to 10 times the current one before it can become a hedge against inflation. Besides the Coinbase CEO, many crypto pundits also believe in this same view. Introduction Of Super App Wallet Amid the ongoing bearish market, Coinbase’s boss said that his firm would aim toward innovation and creating new products. More importantly, the centralized exchange is developing a more sophisticated decentralized wallet with many advanced features, including a profile page, personal identity, and even reputation points. Besides being a financial solution, the wallet could also be a social platform with sections for status and social feeds. Also, musicians and artists will not be left out as the wallet will allow them to showcase their artworks. He added that this next-gen capability of the super-app wallet covers why Web3 is the future of the internet. Centralized And Decentralized Battle Ray Dalio, a well-known hedge fund manager, popularly claimed that the current world order is controlled by the West. More specifically, America. However, he noted that there is a possibility of a change with the rising advancements from countries like China. Related Reading | U.S. Macro Pressure Responsible For Entire Bitcoin Downtrend While agreeing that the US is declining while China is rising, Armstrong stated that the future world order might no longer be “country-centric.” Armstrong believes that as Bitcoin becomes a contender for the new worldwide gold standard, it can skyrocket the western’s decentralized hemisphere. Featured image from Pixabay, chart from TradingView.com
Armstrong tweets in public airing of Coinbase’s internal discontent
The petition was quickly removed, and the number of signatures was not shown, but its list of objections to the Coinbase status quo got a big reaction from the CEO.
Olá from Brazil
Tl;dr: A quick update about a key priority market from the International team. As we prepare to launch in Brazil, we have hired a Country Director, are building out an engineering team, and have engaged with regulators, financial institutions, and star…
Mastercard to allow 2.9B cardholders to make direct NFT purchases
Card payments for NFTs were first announced in association with Coinbase’s latest NFT marketplace in January.
The crypto market downturn explained: a macro outlook
The crypto market downturn explainedAround the Block from Coinbase Ventures sheds light on key trends in crypto. Written by Connor Dempsey. Data by Mike Cohen.TLDR:Central Banks and governments responded to the March 2020 COVID market shock with unprec…
The future of the EU’s cryptoeconomy is entering a critical phase: Here’s what policymakers need to…
The future of the EU’s cryptoeconomy is entering a critical phase: Here’s what policymakers need to get right.By Faryar Shirzad, Chief Policy OfficerTl;dr: As negotiations on the EU’s crypto rules enter a critical phase, we’re sharing four key pillars …
Connecting great talent with new opportunities: Introducing the Coinbase Talent Hub
By L.J Brock, Chief People OfficerAs part of our announcement on Thursday, we made the difficult decision to rescind the offers of a number of candidates who were set to join Coinbase.While it’s necessary to slow our headcount growth in light of the ma…
Scaling Container Technologies at Coinbase with Kubernetes
Tl;dr: Our recent evaluation of Kubernetes underscored its suitability for scaling Coinbase into the future. In the past, a migration to Kubernetes raised concerns due to the operational burden of running and securing the control plane in-house. We’ve …
2TM Group, Parent Company of Mercado Bitcoin, Lays off 90 Workers Amid Market Cool Down
2TM Group, a Latam unicorn and parent company of Mercado Bitcoin, a Latam-based cryptocurrency exchange, has announced it will execute a series of layoffs due to the current market cooldown. The company declared that this action was motivated by the recent global financial scenario changes, making it reconsider its position, and reducing its operative expenses. […]
Layoffs Spread Across the Blockchain Industry as Bear Market Cycle Impacts Crypto Firms
As digital currency prices have slid significantly in value during the past few months, the bear market cycle is starting to take its toll on the crypto industry’s workforce. On June 2, Gemini’s co-founders the Winklevoss brothers revealed the company would lay off 10% of its employees. The same day, one of the Middle East’s […]
Update on Hiring Plans
By L.J Brock, Chief People OfficerI shared an update with our employees today that I want to also share publicly here.TL;DR: In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for b…
Major crypto firms reportedly cut up to 10% of staff amid bear market
Previous crypto bear markets triggered much bigger layoffs, with some firms like ConsenSys reportedly firing up to 60% of its workforce in 2018.
Setting the record straight: Your funds are safe at Coinbase — and always will be
Setting the record straight: Your funds are safe at Coinbase — and always will beBy Paul Grewal, Chief Legal OfficerA couple of weeks ago, a newly required SEC disclosure we made in our 10Q created some noise about how Coinbase holds crypto assets and …
