Tag: Coinbase

Coinbase CEO hints its new layer-2 network could include AML measures

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Coinbase chief executive Brian Armstrong has hinted that the firm’s new Layer-2 blockchain network Base may be subjected to transaction monitoring and anti-money laundering measures at launch. In an interview with Joe Weisenthal on Bloomberg Radio on Mar. 6, Armstrong acknowledged that Base has some centralized components today, adding “it will be more and more decentralized over time.” However, he then suggested that there will be transaction monitoring and AML requirements for users of the new layer-2 network. He suggested that Coinbase will have a responsibility in terms of transaction…

Top US Crypto Exchange Coinbase Acquires Digital Asset Manager With Goal of ‘Bridging the Gap’ to Institutions

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Top US crypto exchange Coinbase has acquired a digital asset manager in an effort to expand further into the institutional investor space. Coinbase purchased One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management, according to a new press release. ORDAM will now operate as Coinbase Asset Management (CBAM), an independent subsidiary of the US-based crypto exchange. Greg Tusar, Coinbase’s head of institutional product, tells Bloomberg that the acquisition is about strengthening ties with institutions. “This is about wanting to bring more institutional capital into the world…

Coinbase Acquires One River Digital to Expand Institutional Access to Crypto Assets – Exchanges Bitcoin News

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Cryptocurrency exchange Coinbase has acquired One River Digital Asset Management, an institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC). This acquisition allows Coinbase “to expand institutional access to digital assets,” the crypto exchange said. Coinbase Expanding Institutional Access to Crypto Coinbase (Nasdaq: COIN) announced Friday that it has acquired One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management. ORDAM is an institutional digital asset manager and registered investment adviser with the Securities and Exchange Commission (SEC). One River Digital…

Paxos-Issued Binance USD Stablecoin Market Cap Falls Below $10B After Coinbase Delisting

The daily trading volume for BUSD on Coinbase was only about $9 million in the last two months, while the market depth within 2% of the market price was just $600,000, according to data from Kaiko, making the stablecoin’s price vulnerable to wobbles. Market depth represents the open buy and sell orders for an asset within a certain price range; the deeper the market, the more stable the price is. Source

Coinbase announces acquisition of One River Digital Asset Management

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United States-based cryptocurrency exchange Coinbase has acquired cryptocurrency-focused hedge fund One River Digital Asset Management, or ORDAM. In a March 3 blog post, Coinbase said One River Digital will transition to become Coinbase Asset Management, “an independent business and wholly-owned subsidiary” of the crypto exchange. One River Digital is registered as an investment adviser under the U.S. Securities and Exchange Commission, and has previously accepted investments from Coinbase to scale its operations. “Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms…

Coinbase Acquires One River Digital Asset Management

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Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank

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The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms that were using Silvergate as their banking partner. However, the termination of service by Coinbase has also forced a crypto hedge fund to look for an alternate banking partner. Today Silvergate has lost CoinbaseCirclePaxosGalaxyCBOE RIP https://t.co/XlexB5u2wD — db (@tier10k) March 2, 2023 On March 3, a crypto hedge fund called Digital Asset…

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing – Bitcoin News

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On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s shares from “neutral” to “underweight.” Coinbase Cuts Ties With Silvergate Bank, Firm’s Shares Expected to Be Highly Volatile After Recent Developments Coinbase announced on Thursday that it is no longer accepting or initiating any payments…

Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank

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Several crypto firms have announced they will scale back or outright terminate their relationship with Silvergate Bank following an announced investigation into its alleged involvement in the FTX collapse. Amid news that crypto exchange Coinbase would no longer accept or initiate payments with Silvergate, companies including stablecoin issuers Paxos and Circle and Mike Novogratz’s Galaxy Digital have announced similar actions regarding their partnerships with the crypto bank. Galaxy Digital announced on March 2 that it had stopped accepting or initiating transfers to the bank “out of an abundance of caution.”…

Bitcoin price risks $23K rerun as Coinbase stock falls over Silvergate

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Bitcoin (BTC) erased early-month gains on March 2 as fresh market uncertainty erupted over solvency of crypto bank Silvergate. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price avoids Silvergate, Coinbase stock slip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $23,206 on Bitstamp, down around 1.5% on the day. The pair came under pressure as rumors swirled over the fate of Silvergate, which lost United States exchange Coinbase as a client in a decision the latter said came out of “an abundance of caution.” Silvergate had suffered as…