Tag: Coinbase

Crypto Exchanges Flocking Towards Turkey: Coinbase, KuCoin Apply for Licence

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Coinbase, KuCoin, Gate.io, and several other small and large cryptocurrency brands are now attempting to obtain business licences in Turkey, according to an updated list published by the Capital Markets Board of Türkiye. Top Companies Seek Turkish Licence First published on August 9, the list included 47 names of cryptocurrency companies. However, it was later updated to add more names, bringing the total to 76. “The list published here has been created to inform the public about the organisations that declared that they will operate in accordance with the Temporary…

US govt sent $594m Silk Road Bitcoin to Coinbase

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More Silk Road Bitcoin moved again after a U.S. government wallet sent 10,000 BTC to Coinbase. The U.S. government transferred Bitcoin (BTC) worth $593.5 million to its preferred crypto brokerage platform, Coinbase Prime, on Aug. 14, according to Arkham Intel. U.S. authorities sent this 10,000 Bitcoin tranche to the wallet “bc1ql” two weeks ago. BTC dropped 3.6% following the news, although the price dip began before Coinbase Prime received the seized Silk Road funds. One BTC cost around $59,100 after an initial market spike due to positive CPI data. 24-hour…

Coinbase Promotes cbBTC, Version of BitGo’s Wrapped Bitcoin (WBTC), for Base Blockchain

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Wrapping a crypto token is a way of making it available on protocols other than the one it was originally designed for, bringing increased liquidity to the target ecosystem. Each wrapped bitcoin represents one of the original, which is stored in custody. When a trader wants to redeem the wrapped token for bitcoin, the wrapped version is “burnt,” or deleted from the chain, and the original is released. Original

Coinbase teases new wrapped Bitcoin product amid ongoing WBTC controversy

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Coinbase has set the crypto community abuzz with speculation following a cryptic hint about a potential new wrapped Bitcoin product, tentatively called “cbBTC.” The news came courtesy of an Aug. 14 post on Coinbase’s official X account which simply stated “cbBTC,” followed by a “coming soon” comment. Jesse Pollak, head of Coinbase’s layer-2 network Base, added speculation to the fire stating in a subsequent post expressing his enthusiasm for Bitcoin (BTC) via a hint to build a “massive Bitcoin economy” on the L2 network. to say it out loud: I…

Markets in Freefall, Coinbase Reports Great Q2 Revenue, and More — Week in Review

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 Crypto Exchange Coinbase Adds Newly Rebranded Layer-1 Token to Listing Roadmap

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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…