Tag: Coinbase

Ark Invest sells $31m in Coinbase, buys Meta amid Bitcoin rally

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Ark Invest, led by Cathie Wood, has sold nearly $31 million worth of Coinbase shares as Bitcoin approached a new all-time high, nearly reaching the $69,000 mark on March 4. The investment manager executed the sale of 134,749 Coinbase shares across three of its exchange-traded funds (ETFs): ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF), with the transaction valued at $30.88 million. Following the sale, Coinbase shares saw a significant increase, rising 11.4% to $229.15 in regular trading on the day and…

Coinbase suffers another outage as Bitcoin breaks $67k

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Coinbase users around the globe reported $0 crypto balances once again as Bitcoin rallied over $67,000 for the first time in over two years.  As Bitcoin (BTC) set a 28-month high on Mar. 4, crypto exchange Coinbase suffered its second outage amid euphoria in the cryptocurrency market in less than a week. The crypto fear and greed index sat at 82, indicating strong interest from users and traders.  Crypto fear and greed index | Source: alternative.me During the first Coinbase outage of the year on Feb. 28, CEO Brian Armstrong…

U.S. court decides against former Coinbase employee, calls some crypto assets securities

A federal judge in a landmark ruling supports the Securities and Exchange Commission’s (SEC) position that certain crypto assets are securities even when traded on secondary markets. A March 1 judgment in the SEC case against a former Coinbase staffer for insider trading has added another dimension to the ongoing debate about how to categorize crypto assets. The SEC’s case introduced a unique complexity to the already gloomy crypto regulatory landscape in the U.S., as it involves individuals accused of insider trading rather than crypto firms themselves. Ishan Wahi, a…

Former Coinbase CTO Balaji Srinivasan: Bitcoin Is a ‘Political Revolution’

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Balaji Srinivasan, venture capitalist and former CTO of Coinbase, has highlighted the real purpose of Bitcoin and its implications for geopolitical and financial issues. Srinivasan stated that Bitcoin at its core is a “political revolution,” because it challenges the centralized states’ business model, and the change brought by it will be fought by states who […] Original

OP Is Undervalued But Will Skyrocket Because Of Coinbase And Base

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Adam Cochran, a partner and professor, is bullish about OP, the native token of Optimism, the layer-2 scaling solution for Ethereum.  Taking to X, Cochran is convinced OP is undervalued, pointing to the significance of Coinbase and the brand it has created over the years as a crypto exchange and investor in multiple products. In 2023, Coinbase backed the development of Base, a layer-2 scaling solution for Ethereum that uses Optimism infrastructure for its optimistic roll-up.  OP Will Rocket Because Of CoinBase And Base In coming up with this assessment, the investor…

’10x Surge’ — Coinbase Traffic Overwhelmed Initial Demand Projections Amid Bitcoin’s Rise to $64K

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The crypto enterprise Coinbase, rooted in San Francisco, experienced an influx of online visits that surpassed the tenfold increase anticipated by their projections. Brian Armstrong, the CEO of Coinbase, shared updates about the heightened traffic following the exchange’s operational hiccups, which coincided with bitcoin’s climb to $64,000 on Wednesday. Coinbase Traffic Spike Surpasses Expectations Coinbase, […] Original

Bitcoin surge boosts Coinbase, crypto stocks reversing early 2024 losses

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The recent surge in Bitcoin has significantly impacted the performance of companies associated with crypto mining and trading, most seeing double-digit gains in a month.  February is shaping up to be a standout month for Bitcoin, as the leading cryptocurrency has gained over 45% this month, marking the most substantial monthly gain for BTC since December 2020. The bullish uptrend has contributed to a 36% rise in an index tracking digital asset-related firms, a notable recovery from a more than 20% decrease the previous month. The widespread enthusiasm for cryptocurrencies…

Bitcoin Ascent To $64,000 Causes Coinbase To Crash

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Not long after the value of Bitcoin surpassed $62,000, its highest level since 2021, Coinbase had severe disruptions and issues on Wednesday afternoon, preventing some customers from signing in at all and causing some user accounts to reflect a $0 balance. Crypto aficionados were furious on social media because they are unable to access their money on the biggest cryptocurrency exchange in the United States. Furthermore frustrating, some customers have reported errors when buying and selling. The continuous demand for Bitcoin is seen as main the reason behind the sudden crash of the…