Tag: Coinbase

Coinbase shows interest in FTX’s European entity

Coinbase recently considered buying FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies. In the crypto trading space, derivatives have grown in significance, outpacing the popularity of spot trading. This trend is demonstrated by Coinbase’s recent interest in acquiring FTX Europe on Sept. 22, further underlining the expanding role of derivatives in global crypto trading strategies. Derivatives, which are intricate financial instruments taking their value from underlying assets like Bitcoin and Ether, have become the powerhouse in the crypto trade. Data from Kaiko Research highlights that…

Coinbase expands in Europe with new Bank of Spain license

Coinbase secured authorization from the Bank of Spain as an official Bitcoin (BTC) and digital assets exchange and custodial wallet service provider. This milestone empowers Coinbase to extend its complete range of offerings to both retail and institutional users in Spain and Europe. Coinbase secures Bank of Spain approval  In a Sept. 22 blog post, Nana Murugesan, the Vice President of International and Business Development at Coinbase, described the Bank of Spain’s approval as a significant achievement. Coinbase can now expand its services for retail consumers, institutional clients, and developer…

Coinbase holds 5% of all Bitcoin in existence: Data

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Blockchain intelligence platform Arkham recently identified that crypto exchange Coinbase holds almost 1 million Bitcoin (BTC) in its wallets. The coins are worth more than $25 billion at current market prices for BTC.  According to Arkham, the exchange’s holdings amount to almost 5% of all Bitcoin that currently exists. Arkham said that Coinbase currently holds a total of 947,755 BTC. At the moment, Bitcoin’s circulating supply is around 19,493,537, according to coin information website CoinGecko. Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain. This makes Coinbase…

Coinbase CEO warns against AI regulation, calls for decentralization

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Brian Armstrong, the CEO of crypto exchange Coinbase, expressed his stance on artificial intelligence (AI) regulation in a recent post on the social media platform X (formerly Twitter).  On Sept. 23, Armstrong explained that he believes that AI should not be regulated. According to the Coinbase CEO, the AI space needs to develop as soon as possible because of reasons such as national security. In addition, Armstrong also noted that despite the best intentions of regulators, regulation “has unintended consequences” and argued that it kills innovation and competition. Count me…

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

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Customers at Coinbase can now trade the native token of a nascent layer-1 project called Vara Network (VARA). The top US crypto exchange rolled out support this week for VARA, the native asset of Vara Network, which just celebrated its mainnet launch on Wednesday. The project is an independent decentralized layer-1 network that aims to enable “the best playground” for next-gen gaming and financial-based applications. It’s built on the Gear Protocol, a Substrate-based smart-contract platform. Says the Vara website, “Building on Vara Network is ideal for both developers already in…

Coinbase Holds $25 Billion Worth Of Bitcoin, Becomes Largest Holder With 1M BTC

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In a notable discovery, Arkham Intel, a leading blockchain intelligence platform, has identified $25 billion worth of Bitcoin (BTC) reserves held by Coinbase, the prominent US-based cryptocurrency exchange.  This revelation puts Coinbase at the forefront of the Bitcoin landscape, positioning it as the largest Bitcoin entity in the world alongside the enigmatic Satoshi Nakamoto. The uncovered reserves amount to nearly 5% of the total Bitcoin supply. Coinbase Emerges As Top Bitcoin Holder Arkham Intel’s comprehensive analysis has successfully tagged over 36 million Bitcoin deposits and holding addresses associated with Coinbase.…

Coinbase sought FTX Europe acquisition after bankruptcy: Report

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Crypto exchange Coinbase attempted to acquire FTX Europe twice since it filed for bankruptcy in November 2022, hoping to broaden its derivatives business overseas. The company, however, has decided not to go forward with the deal, Cointelegraph has learned.  According to a report from Fortune, Coinbase explored acquiring FTX’s European arm on two occasions, in November 2022 — following its parent company’s dramatic debacle — and in September 2023. A spokesperson for Coinbase confirmed the report: “We’re always evaluating opportunities to strategically expand our business and meet with many teams…

Coinbase (COIN) Has Recently Held Talks to Buy FTX Europe: Fortune

Derivatives, which are financial contracts that derive their value from an underlying asset such as bitcoin (BTC), can be lucrative for both traders and the exchanges that serve them. FTX Europe, like other European exchanges, offered a range of derivatives products, but it also was the only firm with a license to offer perpetual futures, a highly popular derivatives offering, in that region. It’s those licenses that have attracted attention from several potential buyers, according to Fortune. Crypto exchange Crypto.com and Trek Labs have also expressed interest in FTX Europe,…

Coinbase Explores FTX Acquisition and Derivatives License

Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. Reports have emerged that Coinbase considered acquiring FTX Europe after the exchange’s bankruptcy in November. While the acquisition talks were not successful, Coinbase’s interest in FTX Europe underlines how important derivatives have become to Coinbase’s global strategy. Whereas spot trading volumes have dipped significantly, there is a greater demand for derivatives. Data from crypto analytics firm Kaiko Research showed that derivatives volume was six times larger than spot volume…

Coinbase Launches ‘Stand with Crypto’ Campaign to Advocate for Clear Cryptocurrency Legislation in US

The “Stand with Crypto” campaign will have a strategic focus on nine specific states in the United States: New Hampshire, Nevada, Ohio, Pennsylvania, Arizona, California, Georgia, Illinois, and Wisconsin. The Coinbase “Stand with Crypto” campaign is dedicated to advocating for favorable cryptocurrency legislation in the United States. This initiative follows extensive research by Coinbase, revealing that a majority of Americans believe the financial system requires significant reforms. Among the respondents, 51% contend that the current financial system is unjust, primarily favoring powerful interests over ordinary citizens. The research also indicates…