In early August 2023, Bloomberg ETF specialists Eric Balchunas and James Seyffart estimated a 65% probability for the approval of a spot bitcoin ETF. However, as August draws to its conclusion, and in light of a U.S. court siding with Grayscale over a legal tussle against the U.S. Securities and Exchange Commission (SEC), the pair…
Read more
In the final moments of the trading session on Aug. 29, the value of COIN stood at $85.13 per share, a jump of 15% over the previous day’s close. Coinbase’s stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in its legal dispute…
Read more
Ethereum Layer 2 network “Base” has surpassed Cardano in terms of Total Value Locked (TVL) in just two weeks after its official launch, despite Cardano experiencing a multi-year head start in growth and development. Base TVL And Trading Volume Rises Above Cardano Presently, Cardano is facing criticism from users due to its TVL falling below…
Read more
In less than a month, despite a downturn in cryptocurrency markets, over 680,000 ethereum (ETH) has been added to liquid staking derivatives protocols. Lido Finance, the leading liquid staking platform, experienced a supply increase of 5.94%, surging from 7.91 million to 8.38 million ETH since July 29. Ether Held in Liquid Staking Jumps From 10.65…
Read more
This week’s Crypto Biz explores the latest on Binance’s global on-ramps and off-ramps, Coinbase-Circle re-alignment, Shopify’s take on USDC and China’s blockchain data exchange. Global regulatory landscapes are once again proving to be a turning point for crypto companies, demanding constant adaptation to navigate shallow regulatory waters across the world, particularly in the United States.…
Read more
Magnate Finance first deleted its Telegram channel and X account followed by taking down the website before pulling the plug on its TVL. Magnate Finance, a lending and borrowing platform on Coinbase’s layer-2 protocol, Base, has rug-pulled its users of $6.5 million hours after on-chain sleuths like ZachXBT warned about the possibility of an exit…
Read more
Popular Decentralized exchange aggregator 1inch partners with Coinbase’s Ethereum Layer 2 network Base to deploy its 1inch Aggregation Protocol and the 1inch Limit Order Protocol. With the mainnet launch of Base on August 9th, exchanges like Uniswap, Balancer, and SushiSwap have just joined the Network. As part of this development, 1inch has been integrated into…
Read more
The two networks will share profits and governance using multisignature wallets, and a “security council” will be formed as the ecosystem grows. Developers behind the Base and Optimism networks have jointly announced a revenue-sharing and governance-sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow…
Read more
The notion that BlackRock gains from cheaper Bitcoin for its ETF launch isn’t straightforward, neither is the government’s suppression of BTC price. Numerous theories emerge whenever the price of Bitcoin (BTC) takes a sudden and steep drop. The usual suspects include government regulations, the possibility of exchanges manipulating prices, Bitcoin whales manipulating prices, over-leveraged traders,…
Read more
Crypto lawyer John Deaton cited several instances where major crypto players, such as Coinbase, reached out to the SEC for regulatory clarification before listing XRP, but didn’t face any objection. The United States Securities and Exchange Commission lawsuit against Ripple filed in December 2020 has deprived the XRP (XRP) token of nearly three years of adoption in…
Read more
