“If adopted, the rule would capture contracts as “gaming” that by any common understanding are not, in fact, gaming,” Coinbase wrote, arguing that this is inconsistent with “legislative history related to gaming, neither of which suggest that gaming should extend beyond sporting events”. Source
The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole […] Source CryptoX Portal
Top US-based crypto exchange platform Coinbase is adding support for the native asset of a layer-1 blockchain that recently rebranded itself. In a new announcement, Coinbase says it’s adding layer-1 protocol Gravity (G), formerly known as Galxe (GAL), to its listing roadmap, which was created in 2022 as a means of increasing transparency and stifling front-running. Gravity is an interoperable smart contract platform that aims to securely and efficiently perform cross-chain transactions, according to its official website. “To meet the demands of high-throughput applications, Gravity features a cross-chain settlement protocol…
Coinbase revenue beat Wall Street analysts’ expectations, while profit came in lower than the consensus. Source
Coinbase posted $1.4 billion in total revenue for the second quarter of 2024, marking a period of continued growth and progress in the crypto industry. The company’s earnings report said it also made strides toward regulatory clarity in the U.S., a key development for the broader crypto economy. Coinbase Publishes Q2 2024 Earnings and Shareholder […] Source CryptoX Portal
The crypto exchange said its second quarter total revenue was $1.45 billion versus average estimate of about $1.4 billion, according to FactSet. However, the second quarter adjusted Ebitda of $596 million came in lower than the consensus of $607.7 million. Source
“We’ve been quite vocal with our concerns about ASIC potentially just continuing to make enforcements”, during the “four or five roundtables” in recent weeks, O’Loghlen said, even though he complimented a new ASIC team for “very much reaching out to all industry players” … “proactively” having “a coffee conversation with 50 or so groups.” Source
An analyst from the CryptoQuant QuickTake platform has now drawn attention to a particular trend tied to the Coinbase Premium Index (CPI) which currently suggests a grim move brewing for Bitcoin. This indicator, when placed with its Simple Moving Average over 14 days (SMA14), has often shown a significant correlation with Bitcoin’s selling pressure, shedding light on how crucial its impact is on the market. Bull or Bear: What the Coinbase Index Tells Us Before diving into what the Coinbase Premium Index is currently signalling for Bitcoin, it is worth…
On-chain data suggests that some Ethereum whales might be jumping off the bandwagon amidst the ongoing tug-of-war between bulls and bears. This phenomenon has become increasingly evident as transaction data from whale trackers reveals a significant uptick in whale activity over the past 24 hours. The majority of these transactions are directed towards various crypto exchanges, indicating a possible shift in strategy or sentiment among these large-scale investors. Notably, on-chain transaction alerts from Whale_Alerts show that approximately $205 million worth of ETH has been transferred into crypto exchange Coinbase from…
However, the investment banking firm Oppenheimer (PT: $282, outperform ) added a bit of optimism, saying that the upcoming election could act as a positive catalyst for the stock. “Since our meetings with legislators in May, our thesis has been that Coinbase would benefit the most in our coverage if former President Donald Trump is re-elected. Recent events including Trump’s continuing to speak in Bitcoin conferences in-person only increase our confidence,” the firm’s analyst wrote. Source