Tag: Coinbase

Crypto Exchange Coinbase $COIN Releases Framework For Decentralizing ‘Base’ Blockchain

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Coinbase to delist six altcoins, including OOKI and VGX

Coinbase, the leading US digital asset trading platform, will suspend trading of six cryptocurrencies as part of its regular internal review. On Aug. 23, Coinbase disclosed on X (formerly known as Twitter) that it will delist BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), & Voyager (VGX) on September 6, 2023,…

Coinbase Invests in USDC Issuer Circle, Says Crypto Exchange Is Committed to Long-Term Success of Stablecoins

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Top US crypto exchange by trading volume Coinbase is investing in the USD Coin (USDC) stablecoin issuer Circle. Coinbase and Circle co-created USDC in 2018 and have jointly managed the asset, which aims to maintain a peg to the US dollar, through the Centre Consortium. In a new announcement, however, Coinbase chief executive Brian Armstrong and Circle CEO Jeremy Allaire say that Circle will now bring all of USDC’s governance and operations responsibilities in-house. Explain the CEOs, “The new structure will streamline the operations and governance, and enhance the direct accountability…

Coinbase (COIN) Acquires Stake in Circle

Cryptocurrency exchange Coinbase (COIN) bought a minority stake in stablecoin issuer Circle Internet Financial. The two companies also dissolved their Centre Consortium partnership, which issued USD Coin (USDC), the world’s second-largest stablecoin. As part of the move, Circle will bring issuance and governance of USDC fully in-house. Also, six more blockchains will gain native support for USDC, which is pegged at $1, bringing the total number of supported blockchains to 15. Coinbase and Circle, in a blog post and interviews with CoinDesk, did not disclose the size of the stake…

Coinbase reports subdued interest in debt buyback adjusts offer

Coinbase’s announcement on Aug. 21 disclosed that their buyback program, initiated earlier this month, has garnered slightly above $50 million in bond tenders. As a response, the exchange has increased its offering on the 3.625% Senior Notes maturing in 2031 from 64.5 cents to 67.5 cents on the dollar in a recent release from Coinbase. Debt before the storm Coinbase shared the early tender results of its offer made on Aug. 7 to purchase in cash up to $150 million, excluding unpaid interest of its Senior Notes due in 2031.…

Coinbase invests in stablecoin operator Circle

Coinbase (COIN), a US-based cryptocurrency exchange, has secured a minority stake in a payment company Circle.  This collaboration comes as both entities take the significant step of dissolving their Centre Consortium partnership, which had been instrumental in the issuance of USD Coin (USDC), currently ranked as the world’s second-largest stablecoin. An updated agreement According to Fortune, this updated agreement was made on Monday, Aug. 21, which comes as a response to regulatory uncertainty and potential competition from stablecoins, including Tether and now PayPal’s new stablecoin, PYUSD. USDC was originally launched…

Coinbase takes equity stake in Circle as USDC Centre Consortium shuts down

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Coinbase and Circle have redefined their relationship, according to identical announcements on the Coinbaseand Circle blogs on Aug. 21. The two organizations jointly launched the USD Coin (USDC) stablecoin and have until now governed the token through the Centre Consortium. The Centre Consortium “will no longer exist as a stand-alone entity,” the blog past said, and governance and operations will be handled in-house. Circle will have enhanced responsibilities, including holding smart contract keys and regulatory compliance. The crypto firms attributed the move to increased regulatory clarity: “Circle and Coinbase […]…

Coinbase sees lukewarm demand for debt buyback, raises offer

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Crypto exchange Coinbase has raised the offer on its $150 million debt buyback program after lukewarm demand. In an Aug. 21 announcement, Coinbase revealed that since the buyback program went into effect earlier this month, investors have tendered just over $50 million of bonds compared to a target of $150 million. Accordingly, the exchange raised its offer on 3.625% Senior Notes due 2031 from 64.5 cents on the dollar to 67.5 cents on the dollar. Coinbase wrote:  “Holders of Notes (“Holders”) who validly tendered and did not validly withdraw their…

Ethereum co-founder Vitalik Buterin moves $1M of ETH to Coinbase

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Blockchain sleuths have flagged the transfer of $1 million of ETH belonging to a wallet controlled by Ethereum (ETH) co-founder Vitalik Buterin as cryptocurrency markets remain depressed after widespread weekend losses. #PeckShieldAlert vitalik.eth has transferred 600 $ETH (~$1M) to #Coinbase pic.twitter.com/XVTwLqPENM — PeckShieldAlert (@PeckShieldAlert) August 21, 2023 The publicly labeled Ethereum wallet address vitalik.eth transferred 600 ETH on Aug. 21, with the address still holding over 3,900 ETH valued at $6.5 million as per data from Etherscan. Blockchain data analysis from Lookonchain also revealed that vitalik.eth repaid 251,000 RAI tokens…