Tag: Coinbase

Coinbase announces ‘nearly the entire company will shut down’ for four weeklong breaks in 2022 to allow workers to recharge

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Major U.S. crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after “long days and long weeks” of intense work. In a Monday blog post, Coinbase chief people officer L.J. Brock said “nearly the entire company will shut down” for four separate weeks this year as part of an experiment in allowing workers to recuperate after completing intense workloads. Brock said the exchange’s employees aren’t necessarily limited to 40-hour work weeks and may have to “pivot at a moment’s notice,” seemingly creating…

Coinbase, PayPal join TaxBit Network for free crypto tax forms

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Crypto tax compliance firm TaxBit is working to unite major industry companies like Coinbase and Binance.US within one network to enable free 2021 tax forms for users. The crypto tax software provider on Tuesday launched the TaxBit Network, a certified network aiming to democratize crypto tax calculations and tax forms by providing necessary tax reporting data to all network users for free. The TaxBit Network at launch includes about 20 major crypto-related businesses in the United States, including firms like PayPal, Binance.US, Coinbase, FTX.US, Gemini, Celsius Network, Blockchain.com, Venmo, Paxos,…

Bitcoin’s Near 40% Slide Weighs on Crypto Stocks While Coinbase Outperforms

Argo Blockchain (ARBK), the only crypto miner listed on the London Stock Exchange (LSE), has declined by 45%, while Canadian crypto miners Hive Blockchain (HIVE) and Hut 8 Mining Corp (HUT) have slipped 52% and 59%, respectively. Toronto-listed crypto exchange Voyager Digital (VYGVF) is down 50% alongside a 45% slide in shares in MicroStrategy (MSTR), a business-intelligence software company that holds 122,478 BTC, worth nearly $6 billion, on its balance sheet. Source

BofA Upgrades Coinbase to Buy, Sees Revenue Diversification Beyond Retail Crypto Trading

Bank of America upgraded Coinbase shares to buy from neutral, leaving the price target unchanged at $340. The upgrade was due to increasing signs of revenue diversification beyond just retail crypto trading, a trend which it thinks will accelerate further this year, the bank said in a note on Thursday. The bank forecasts subscription and services revenue to increase to 16% of the company’s total revenue in 2023, from 12% in the third quarter of 2021. This trend will be driven by a combination of offerings such as staking, earn…

Coinbase Shares Predictions on Future of Ethereum Scalability, Metaverse, Defi, NFTs – Featured Bitcoin News

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Coinbase’s chief product officer has shared some predictions for 2022 regarding Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and more. 2022 Predictions by Coinbase’s Executive Coinbase’s chief product officer, Surojit Chatterjee, shared last week 10 predictions of what the crypto industry holds in 2022. The predictions cover a range of crypto topics, including ETH scalability, zero-knowledge proof technology, decentralized finance (defi), non-fungible tokens (NFTs), and the metaverse. Non-fungible tokens “will become the next evolution of users’ digital identity and passport to the metaverse,” the executive described, adding:…

Coinbase CEO reportedly buys LA mansion for $133M

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Brian Armstrong, CEO of Coinbase — the largest cryptocurrency exchange in the United States — reportedly made a multi-million-dollar real estate purchase at the end of 2021. Armstrong bought a $133-million Los Angeles property from Japanese entrepreneur Hideki Tomita in December, The Wall Street Journal reported on Monday, citing anonymous people familiar with the matter. According to The Wall Street Journal, Tomita originally purchased the real estate for $85 million in 2018. The new deal allegedly marks the biggest home purchase ever completed in the L.A. area. Prior to being…

Coinbase exec says major Ethereum scaling improvements coming soon

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Coinbase Chief Product Officer Surojit Chatterjee is the latest to publish his predictions for the crypto industry in 2022 and he foresees major advances in the scaling of Ethereum. Industry leaders, analysts, and investors are sharing their 2022 predictions for the crypto ecosystem, and Coinbase’s Surojit Chatterjee is confident that Ethereum will be at the forefront of Web3 and the crypto-economy as it scales. The CPO shared his predictions in a company blog post on Jan. 4 in which he stated that Ethereum scalability will improve but alternative layer 1…

Bitcoin Whales Were Active on Coinbase Amid a Quiet Holiday Week

But following the big buys, both large buy and sell orders for bitcoin were placed on Coinbase right before the expiry of bitcoin’s options contract on Dec. 31. On Jan. 1, on the other hand, sell orders with more than five bitcoin dominated Coinbase’s BTC/USD trading pair volume. These large trades, however, did not cause any spikes in Coinbase’s spot market share, according to Kaiko’s Medalie, meaning that similar activity was taking place on other exchanges over the same time period. Source

Bitcoin Whales Were Active on Coinbase Amidst a Quiet Holiday Week

But following the big buys, both large buy and sell orders for bitcoin were placed on Coinbase right before the expiry of bitcoin’s options contract on Dec. 31. On Jan. 1, on the other hand, sell orders with more than five bitcoin dominated Coinbase’s BTC/USD trading pair volume. These large trades, however, did not cause any spikes in Coinbase’s spot market share, according to Kaiko’s Medalie, meaning that similar activity was taking place on other exchanges over the same time period. CryptoX Portal

Over $467,000,000 Worth of Bitcoin Leaves Crypto Exchange Coinbase in Just One Week: Analytics Firm Coinglass

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New data from a crypto intelligence platform reveals that nearly 10,000 Bitcoin (BTC) left US-based crypto exchange Coinbase in the last seven days. Coinglass shows that Coinbase Pro users collectively withdrew 9,951 BTC worth $467.28 million in the last week alone as Bitcoin continues to struggle below the $50,000 level. The analytics firm also shows that Seychelles-based digital asset exchange OKEx recorded outflows of 2,196 BTC worth $103.12 million over the same timeframe. In the last 24 hours, OKEx users withdrew 748 BTC worth $35.12 million. While Coinbase and OKEx…