Tag: Coinbase

Coinbase to file order seeking dismissal of SEC lawsuit

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Coinbase plans to file an order seeking dismissal of the lawsuit by the Securities and Exchange Commission on Aug. 4, with the crypto exchange’s legal chief saying it expects to win the case. On its Aug. 3 second-quarter 2023 earnings call, Coinbase chief legal officer Paul Grewal expressed confidence the exchange would win the court case brought by the regulator. “With respect to the litigation with the SEC, I want to be very clear. We do think we can win. We expect to win.” The SEC sued the exchange on…

Coinbase Q2 earnings beat estimates amid Blackrock custody deal, institutional focus

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New York-based crypto exchange Coinbase reported revenue in the amount of $708 million in the second quarter of 2023, despite the regulatory issues it’s faced in recent months, boosted by a custody deal with Blackrock and institutional focus. The exchange said Q2 net revenue reached $663 million, down 10% versus the same period last year, yet beating early estimates on its growing market dominance in the United States as competitors such as Binance are bogged down by regulatory trouble. The crypto exchange’s impressive performance was also attributed to the strong…

Upbit exchange overtakes Coinbase and OKX in trading volume

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South Korean cryptocurrency exchange Upbit overtook both Coinbase and OKX in terms of spot trading volume in July for the first time, according to data published on Aug. 3 from CCData.  Spot trading volume on Upbit rose in the month of July by 42.3%, up to $29.8 billion. Coinbase and OKX, on the other hand, saw their own volumes fall by 11.6% and 5.75%, bringing them in at $28.6 billion and $29.0 billion, respectively. This latest shift in the market now places Upbit after Binance as the second-largest exchange by…

Coinbase CEO hints at Bitcoin lightning network integration

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase is considering integrating Bitcoin’s Lightning Network to facilitate quicker crypto payments. The exchange’s CEO, Brian Armstrong, hinted at it in response to a tweet by Jack Dorsey. The Twitter co-founder, in his turn, questioned Coinbase’s approach toward Bitcoin (BTC) and Lightning Network adoption. We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin. Not sure why you think we’re ignoring Bitcoin – we’ve…

Bitcoin Lightning on Coinbase agenda, Brian Armstrong tells Jack Dorsey

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Brian Armstrong, the CEO of Coinbase, confirmed that the crypto exchange is “looking into” adding the Bitcoin (BTC) Lighting network in its quest to spread crypto payments adoption across the globe. On July 28, Armstrong addressed the crypto community on Twitter (rebranded to X), highlighting the potential of cryptocurrencies to improve global payments infrastructure. He further suggested: “This will take lots of work from all of us, Coinbase included, getting layer 2’s integrated, better on-ramps, simpler UX/onboarding, etc.” Armstrong’s vision for global crypto payments was questioned by long-standing Bitcoin supports…