Tag: Coinbase

Coinbase officially ends Bitcoin SV support

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Coinbase has finalized its actions to phase out Bitcoin SV from its list of supported digital assets. Initially rumored in November 2023, the delisting became official when Coinbase announced it had deprecated support for Bitcoin SV (BSV). In a post on X, Coinbase advised users who still held BSV that their assets had been forcefully liquidated and converted into a different cryptocurrency available on the platform, albeit after the deduction of transaction costs. The exchange also notified customers that the involuntary conversion process might not result in compensation, especially if…

Bitcoin Set For Positive Performance In Q2 2024: Coinbase Analysts

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Analysts at cryptocurrency exchange Coinbase are backing Bitcoin and the entire crypto market to put up a significantly positive performance in Q2 2024. This development comes as BTC continues its market recovery, gaining by 3.31% in the last week to trade above $43,000.  Downward Pressure On Bitcoin Subsides, Macro Factors To Come Into Play: Analysts In the Coinbase weekly report on Friday, the American exchange’s analysts noted that the market factors that induced downward pressure on Bitcoin were being phased out. This claim is backed by the completion of the…

Top US Crypto Exchange Coinbase Rolls Out Trading for New Layer-1 Altcoin

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Users of top US crypto exchange Coinbase can now buy, sell and hold the new token of the layer-1 blockchain and smart contract platform ZetaChain (ZETA). Coinbase says it is rolling out support for the altcoin, which launched on February 1st, with the experimental asset label. The exchange gives this mark to tokens that pose certain risks such as price swings and canceled orders because of lower trading volume and availability. ZetaChain is a proof-of-stake blockchain designed to seamlessly enable different blockchain networks to communicate and interact with each other.…

Crypto Exchange Coinbase Puts Solana-Based Altcoin on Listing Roadmap

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Top US crypto exchange Coinbase is listing another Solana-based (SOL) altcoin as the Ethereum (ETH) rival’s ecosystem heats up. In a new announcement, Coinbase says it is adding Render (RNDR) to its “listing roadmap,” which alerts customers that the exchange could soon add support for certain assets. Render is an image-synthesizing ecosystem consisting of distributed Graphics Processing Unit (GPU) computers. Says Render, “The network allows for a model that improves render speed for artists while reducing costs and increasing scale. It improves capital efficiency by utilizing idle GPU compute capability,…

Ex-UK finance minister joins Coinbase crypto exchange

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Former British Chancellor George Osborne addresses guests during a visit to the Manchester Chamber of Commerce on July 1, 2016 in Manchester, England. Christopher Furlong | Getty Images LONDON — A former British finance minister on Wednesday joined cryptocurrency exchange Coinbase as a global advisor, beefing up the company’s regulatory bargaining power at a time when it faces severe scrutiny stateside. Coinbase announced that George Osborne, who served as Britain’s chancellor of the exchequer from 2010 to 2016, will join the company on its global advisory council. He’ll join the…

Selling Pressure Subsides As Grayscale Sends 8.6K Bitcoin To Coinbase, Falling Below Average

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In the third week of January, Bitcoin (BTC) demonstrated a modest 3% price recovery, following increased selling pressure exerted by asset manager Grayscale since January 12.  Interestingly, there are indications that this selling pressure is now diminishing, pointing towards a potential restart of the bullish trend that Bitcoin has been experiencing since October 2023. Grayscale’s Resumed Selling Spree As previously reported, since the approval of the Bitcoin spot exchange-traded fund (ETF), Grayscale has deposited a significant sum of 103,134 BTC ($4.23 billion) into Coinbase Prime as of January 25.  However,…

Bitcoin Price At Risk? Grayscale’s $335M Coinbase Transfer Stirs $30,000 Plunge Potential

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The Bitcoin price has experienced a notable shift as selling pressure mounts, with BTC bears gaining the upper hand. Asset manager Grayscale, the owner and manager of the Grayscale Bitcoin Trust (GBTC), is a significant contributor to this trend.  Since the trading of spot Bitcoin exchange-traded funds (ETFs) began on January 12, Grayscale has been on a selling spree, as evidenced by substantial transfers of BTC to the United States-based crypto exchange Coinbase. Bitcoin Price Under Pressure As Grayscale Selling Spree Continues According to Akrham Intelligence data, in addition to…

Coinbase, Consensys, others critique US Treasury’s proposed bulk reporting for mixer transactions

Coinbase, Consensys, and Paradigm are urging the U.S. Treasury to reconsider its proposed reporting requirements for crypto mixer transactions, citing a lack of specificity and concerns over resource allocation. In a comment to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Jan. 22, Coinbase stated that regulated platforms already comply with existing rules for recordkeeping and reporting of suspicious activities and illicit crypto mixing. The firm is particularly critical of the proposal’s requirement for crypto platforms to report all crypto mixing activities, including those serving legitimate purposes. Coinbase contends…

Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan

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Coinbase may face challenges due to decreasing Bitcoin values and declining interest in Bitcoin ETFs, as per insights from JPMorgan Chase & Co. Coinbase’s shares plummeted by 6.2% on Tuesday, as the downturn followed JPMorgan’s decision to issue its first negative assessment equivalent to a “sell” rating on the company since it began tracking the stock in May 2021. Despite a significant upsurge of nearly 400% by the end of 2023, Coinbase’s shares have mirrored the trajectory of Bitcoin, which saw a remarkable increase in the same period. In 2024,…