Tag: Coinbase

Coinbase junk bonds tank amid market rout and creditors’ fears

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The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on May 10 to sit at $63 and $62.31 at the time of writing. Overall they are down 20% and 19% apiece since the start of this month. 10y coinbase bonds trading at 63 cents on the dollar pic.twitter.com/fqmKmiXk5E —…

Only A Few People Know Whats Going On – Raoul Pal Ethereum & Bitcoin

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Coinbase CEO says funds are safe amid bankruptcy protection fears

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Following the Coinbase report where the company declared its losses, a disclosure that suggests that users are not protected in the case of bankruptcy has been gaining traction on social media. However, Coinbase CEO Brian Armstrong explained that funds are safe “as they’ve always been.”  In the company’s first-quarter report for 2022, Coinbase reported its first loss amounting to $430 million. Apart from this, the firm also reported the number of users transacting in the exchange has also dropped from 11.4 million to 9.2 million. After the loss was posted,…

Cathie Wood’s Ark Invest Grabs More Than Half a Million Coinbase Shares as Exchange’s Stock Plummets

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Crypto Exchange Coinbase Halts Service in India Due to ‘Informal Pressure’ From Central Bank RBI – Exchanges Bitcoin News

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The Nasdaq-listed cryptocurrency exchange Coinbase has revealed that it halted operation in India a few days after launch due to “informal pressure” from the country’s central bank, the Reserve Bank of India (RBI), says CEO Brian Armstrong. Coinbase Shares Experience in India Coinbase Global provided an update on its Indian operation during the company’s earnings call Tuesday, particularly why it exited the Indian crypto market a few days after launch. Anil Gupta, vice president of Investors Relations at Coinbase, asked CEO Brian Armstrong: “Some shareholders are curious about the recent…

Crypto Exchange Coinbase Forced To Back Out of India as CEO Brian Armstrong Cites Pressure From Central Bank

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Crypto exchange Coinbase is backing out of a move to bring its services to India citing heavy pressure from the nation’s central bank. In the latest earnings call, Coinbase CEO Brian Armstrong says that the exchange had to halt its services in India despite a previous Supreme Court ruling that overturned a ban on crypto trading in the country. “We launched Coinbase in India on April 7th. And this includes fiat on-ramps into the crypto economy. There’s a lot of interest in crypto amongst the people there in India. So…

Coinbase Shares Plunge as Weak Earnings Prompt Near-Term Caution

Coinbase is trading as though it will “burn through all of its cash and then become insolvent,” Mark Palmer, BTIG’s equity research analyst said in a note. Eventually, investors will recognize an opportunity in the shares, he said, calling the stock drop “greatly overblown.” BTIG maintained a buy recommendation and lowered the price target to $380 from $500. Source

Coinbase Ventures Backs Moralis’ $40M Funding Round

Web 3 development platform Moralis has raised $40 million in a Series A funding round, money that it will use to ramp up product development, improve the user experience and increase capacity for more and larger clients. Coinbase Ventures, the investment arm of crypto exchange Coinbase (COIN), was among the investors. Source

Backed by Coinbase and Alameda, African exchange MARA eyes continental prospects

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East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users. Coinbase Ventures, Alameda Research, Huobi Ventures and other prominent venture capital firms and angel investors have contributed $23 million to launch MARA. The exchange will initially operate in Kenya and Nigeria, offering new users a basic exchange platform to acquire, trade and withdraw cryptocurrencies. The platform will offer a professional exchange featuring extensive trading options and technical analysis tools for more experienced…