A transaction unearthed by Arkham Intelligence revealed that bitcoins linked to the Silk Road have been moved to Coinbase Prime. “10K Silk Road BTC ($593.5M) moved to Coinbase Prime,” Arkham posted on X. The firm further explained, “Wallet bc1ql received 10K BTC from a known US Government wallet 2 weeks ago. This BTC has just […] Original
Wrapping a crypto token is a way of making it available on protocols other than the one it was originally designed for, bringing increased liquidity to the target ecosystem. Each wrapped bitcoin represents one of the original, which is stored in custody. When a trader wants to redeem the wrapped token for bitcoin, the wrapped version is “burnt,” or deleted from the chain, and the original is released. Original
Coinbase has set the crypto community abuzz with speculation following a cryptic hint about a potential new wrapped Bitcoin product, tentatively called “cbBTC.” The news came courtesy of an Aug. 14 post on Coinbase’s official X account which simply stated “cbBTC,” followed by a “coming soon” comment. Jesse Pollak, head of Coinbase’s layer-2 network Base, added speculation to the fire stating in a subsequent post expressing his enthusiasm for Bitcoin (BTC) via a hint to build a “massive Bitcoin economy” on the L2 network. to say it out loud: I…
“If adopted, the rule would capture contracts as “gaming” that by any common understanding are not, in fact, gaming,” Coinbase wrote, arguing that this is inconsistent with “legislative history related to gaming, neither of which suggest that gaming should extend beyond sporting events”. Source
The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […] Source CryptoX Portal
Top US-based crypto exchange platform Coinbase is adding support for the native asset of a layer-1 blockchain that recently rebranded itself. In a new announcement, Coinbase says it’s adding layer-1 protocol Gravity (G), formerly known as Galxe (GAL), to its listing roadmap, which was created in 2022 as a means of increasing transparency and stifling front-running. Gravity is an interoperable smart contract platform that aims to securely and efficiently perform cross-chain transactions, according to its official website. “To meet the demands of high-throughput applications, Gravity features a cross-chain settlement protocol…
Coinbase revenue beat Wall Street analysts’ expectations, while profit came in lower than the consensus. Source
Coinbase posted $1.4 billion in total revenue for the second quarter of 2024, marking a period of continued growth and progress in the crypto industry. The company’s earnings report said it also made strides toward regulatory clarity in the U.S., a key development for the broader crypto economy. Coinbase Publishes Q2 2024 Earnings and Shareholder […] Source CryptoX Portal
The crypto exchange said its second quarter total revenue was $1.45 billion versus average estimate of about $1.4 billion, according to FactSet. However, the second quarter adjusted Ebitda of $596 million came in lower than the consensus of $607.7 million. Source
“We’ve been quite vocal with our concerns about ASIC potentially just continuing to make enforcements”, during the “four or five roundtables” in recent weeks, O’Loghlen said, even though he complimented a new ASIC team for “very much reaching out to all industry players” … “proactively” having “a coffee conversation with 50 or so groups.” Source