Tag: Coinbase

Coinbase Seeks New Revenue Stream From Layer 2 Network

Coinbase (COIN), the large publicly traded U.S. crypto exchange, said its new Base blockchain, a “layer 2 network,” has gone live, heralding the start of a new era of public companies running their own distributed networks. Base was already live for testing by developers, and it became open to the public at noon ET on Wednesday. The move could ultimately allow Coinbase to garner fees from running its own blockchain, in addition to a potentially even more lucrative stream of revenue from applications built atop it, executives say. Layer 2…

SEC use of Terraform ruling hints Coinbase dismissal motion attack plan

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A recent filing from the United States Securities and Exchange Commission (SEC) in its lawsuit against crypto miner Green United could shed light on how it may approach the case against Coinbase. On July 31, the SEC scored a win after District Judge Jed Rakoff denied Terraform Lab’s motion to dismiss the case, rejecting its argument that relied on the “major questions doctrine.” The same argument has been used by purported crypto miner Green United in its own motion to dismiss and has also been a centerpiece for crypto defendants…

Bitcoin Coinbase Premium Surges, Recovery Being Driven By US Investors?

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Data shows the Bitcoin Coinbase Premium Index has recently seen a surge, a sign that buying from US investors may contribute to the recovery. Bitcoin Coinbase Premium Index (7-Day SMA) Has Been Going Up Recently According to data shared by Julio Moreno, the Head of Research at CryptoQuant, the Coinbase Premium Index has been sharply trending up recently. The “Coinbase Premium Index” here refers to a metric that keeps track of the percentage difference between the Bitcoin price listed on Coinbase (USD pair) and that listed on Binance (USDT pair).…

Coinbase Launches Own Blockchain as Sleuths Scour PayPal’s Stablecoin Software

Decentralized finance or DeFi ecosystems are still suffering through crypto winter, according to the analysis firm Messari. As a whole, the industry’s total value locked, or TVL – a key metric that represents collateral and deposits put into blockchain protocols – has been declining. On Ethereum, by far the biggest DeFi ecosystem, TVL dropped by 13% drop to $23 billion over the past 30 days. Optimism and Solana eked out gains. Source

Coinbase Launches ‘Base’ Blockchain, in Milestone for Public Company

“Historically the aperture of what people can do with crypto has been relatively limited, mostly speculation,” Pollak said. “In order for Coinbase and crypto and this work that we’re doing to have the impact that we all want, we need to move from the place where this is speculation to a place where this is integrated into every part of someone’s day-to-day existence.” Source link

19% of New Yorkers own cryptocurrency: Coinbase report

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A Coinbase report series highlighting crypto innovation at the state level in the United States has recently published its fourth edition, which features New York. The report highlighted various milestones the state reached regarding crypto adoption.  Within the report, Coinbase noted that 19% of New York residents who participated in the study own cryptocurrencies. Additionally, one in three New Yorkers agreed that crypto makes the financial system fairer and described it as a “worthwhile investment for the future.“ Bitcoin ATMs in Manhattan, New York City. Source: CoinATMRadar The Coinbase report…

Coinbase begins $150M debt buyback at 36% discount

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Cryptocurrency exchange Coinbase will begin buying back up to $150 million of its 2031 Senior Notes for 64.5 cents on the dollar, or a discount of 35.5%. According to the Aug. 7 announcement, the tender offer will last until Sept. 1, with an early premium of three cents on the dollar on top of the regular purchase price. The 2031 Senior Notes have a coupon rate of 3.625% per annum and a total principal balance of $1 billion. Last month, the exchange redeemed $65 million in convertible notes at a…

Coinbase battles US SEC, Worldcoin concerns mount, FTX announces reorganization plans

This week, Coinbase’s legal dispute with regulators unfolds as the crackdown on hacks and scams intensifies. Meanwhile, Worldcoin is under scrutiny and FTX announces reorganization plans. Coinbase vs. US SEC Coinbase Global (COIN) continues to garner significant attention for its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC).  Coinbase CEO Brian Armstrong claimed that the SEC mandated the cessation of all cryptocurrency trading, except for Bitcoin, on the exchange, a Financial Times report revealed. Per Armstrong, the SEC’s request came before their lawsuit against the exchange for non-compliance…

Top US Crypto Exchange Coinbase Asks Court To Toss SEC Lawsuit, Accuses the Regulator of Violating Due Process

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Coinbase is asking a court to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the top US-based crypto exchange. In a new thread, Paul Grewal, Coinbase’s chief legal officer, says that the crypto firm is seeking to discard the lawsuit because they believe the regulatory agency is violating due process. According to Grewal, the SEC is ignoring a decades-long precedent established by the Supreme Court. “Today, Coinbase filed our brief asking the Court to dismiss the SEC’s case against us. Our core argument is simple – we do…

Coinbase will remain in US despite regulatory uncertainty

Coinbase CEO Brian Armstrong has affirmed their commitment to remain in the US, dismissing any notion of departure.  Earlier, Armstrong had raised concerns about the uncertain crypto regulatory landscape in the country and hinted at the possibility of relocating Coinbase overseas if circumstances warranted such a move. In an interview, Armstrong emphasized that Coinbase had no intention of departing and underlined the immense significance of the US market for the exchange.  He reiterated its dedication to adhering to US regulations. Despite acknowledging the region’s potential as a robust crypto market, Armstrong…