Tag: Coinbase

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’10x Surge’ — Coinbase Traffic Overwhelmed Initial Demand Projections Amid Bitcoin’s Rise to $64K

February 29, 2024

The crypto enterprise Coinbase, rooted in San Francisco, experienced an influx of online visits that surpassed the tenfold increase anticipated by their projections. Brian Armstrong, the CEO of Coinbase, shared updates about the heightened traffic following the exchange’s operational hiccups, which coincided with bitcoin’s climb to $64,000 on Wednesday. Coinbase Traffic Spike Surpasses Expectations Coinbase,…
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Bitcoin Ascent To $64,000 Causes Coinbase To Crash – Here’s What Happened

February 29, 2024

Not long after the value of Bitcoin surpassed $62,000, its highest level since 2021, Coinbase had severe disruptions and issues on Wednesday afternoon, preventing some customers from signing in at all and causing some user accounts to reflect a $0 balance. Crypto aficionados were furious on social media because they are unable to access their…
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Service Interruptions at Coinbase, Robinhood and Kraken as Bitcoin Soared to $64,000

February 28, 2024

On Wednesday, bitcoin’s value ascended to the vicinity of $64,000, during which time users of Coinbase and Robinhood reported disruptions in service. As of Feb. 28, 2024, Coinbase’s status page indicated the platform was suffering from “degraded performance,” while Robinhood’s clientele voiced their grievances to the platform’s support team. Technical Troubles Shadow Bitcoin’s Climb to…
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Crypto Exchanges in Nigeria Cease Naira Purchases of USDT and USDC Amid Central Bank Scrutiny: Report

February 28, 2024

Several crypto companies in Nigeria have made the decision to disallow users from buying the Tether (USDT) and USD Coin (USDC) stablecoins with Naira in light of renewed scrutiny from the Central Bank of Nigeria (CBN). The move comes as regulators intensify their focus on crypto platforms, citing concerns that they facilitate speculative trading and…
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Cathie Wood’s Ark Invest Sells $7M Shares Each in Coinbase, Robinhood

February 27, 2024

ARK Invest, the asset management firm and Bitcoin exchange-traded fund (ETF) issuer led by Bitcoin advocate Cathie Wood, has sold a significant amount of Coinbase, Robinhood, and Nvidia stocks. According to Ark Invest Daily’s Feb. 26 reveals, the ARK Innovation ETF (ARKK) sold 35,509 Coinbase (COIN) shares worth $6.89 million based on its closing price…
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USDC Grows In Non-US Markets as Market Cap Taps $28 Billion

February 27, 2024

The market capitalization of Circle’s USDC moved past $28 billion with a gradual increase from Q4 2023 amid wider institutional investments. A new Coinbase report shows a resurgence in the USDC market following the general market upturn and growth in non-U.S markets. The market cap for stablecoins is rising… and USDC is outperforming – up…
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Bitcoin Rally: Crypto Analyst Says New Peak Is Within Arms’ Reach

February 27, 2024

With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge. New All-Time High For Bitcoin Is Within An Arms Reach In a recent development on the social media platform…
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Alternative Ways for Coinbase Commerce to Support Native Bitcoin Payments

February 24, 2024

Coinbase recently announced that it would be removing support for native Bitcoin (BTC) payments across its payment platform for merchants, Coinbase Commerce. The company’s head of product, Lauren Dowling, stated on her X account on February 18 that “customers were struggling with operational challenges managing crypto volatility risk, manual burden of resolving incorrect payments (eg:…
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Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally

February 24, 2024

Coinbase CEO Brian Armstrong has dismissed reports of his cryptocurrency exchange being blocked by Nigerian authorities. He emphasized that Coinbase products are fully operational in Nigeria without any interruptions. “We have not received any outreach or communication from officials in Nigeria,” the Coinbase executive affirmed. Meanwhile, Binance has reportedly admitted that some users in Nigeria…
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Coinbase on Grayscale Ethereum Spot ETF Application: “ETH Is a Commodity, Not a Security”

February 24, 2024

Coinbase has answered the SEC request for comments on the proposed rule change to list the ETH Grayscale Fund as a spot ETF. Coinbase stated that ether was a commodity, and its status has been publicly recognized in a variety of circumstances by U.S. agencies and courts. Coinbase Supports Ethereum Grayscale Fund Conversion as a…
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