Tag: Coinbase

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Coinbase Reports Significant Drop in Consumer Trading Volume Raising Concerns for Crypto Industry

August 6, 2023

Coinbase has reported a significant drop in consumer trading volume, which has raised concerns for the crypto industry.  On Thursday, the largest US-based cryptocurrency exchange released its second quarter earnings report, revealing that transaction volume for consumers and institutions has declined by 70% and 54%, respectively, compared to the same period last year…. Read More: Coinbase Reports Significant…
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‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuit

August 5, 2023

Lawyers for Coinbase cited precedent from the SEC v. Ripple case, in which a judge ruled that XRP largely did not qualify as a security by the commission’s standards. United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission in June. In an Aug. 4…
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Base Opens Ethereum Bridge, Mainnet to Launch August 9

August 5, 2023

Base, the Ethereum L2 (layer 2) scaling layer backed by Coinbase, has opened bridging for selected assets from Ethereum. In a blog post, the protocol also announced that the Base mainnet deployment was slated for August 9, allowing free access to developers to launch their apps on top of it. Base Opens Ethereum Bridging,…
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Coinbase CEO says leaving US ‘not even in the realm of possibility right now’: Report

August 5, 2023

Brian Armstrong has previously suggested Coinbase might abandon the U.S. for a more crypto-friendly country, but also said the exchange was “100% committed” to the local market. Brian Armstrong, chief executive officer at Coinbase, has reportedly waffled about whether the cryptocurrency exchange plans to leave the United States amid regulatory uncertainty. According to an Aug.…
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Crypto Exchange Coinbase Narrows Losses Thanks to Cost Reduction Strategy

August 4, 2023

Major US-based crypto exchange Coinbase has reported a smaller loss in the second quarter this year compared to the same quarter last year, while its revenue exceeded analysts’ expectations. Coinbase’s loss for the quarter came in at $97 million, down from $1.1 billion a year before, the firm’s financial report for the second quarter showed….…
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Coinbase Urges Court to Dismiss SEC Case, Claiming Regulator ‘Overstepped’ Its Statutory Authority

August 4, 2023

In a motion for judgment filed on August 4, Coinbase hit back against the SEC’s lawsuit alleging it facilitated unregistered trading of securities, arguing the agency lacks authority to regulate digital assets in this way. Coinbase Fights Back Against SEC’s Crypto Exchange Lawsuit In a court filing submitted on Friday, Coinbase contends the SEC’s claims…
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Shiba Inu lead developer queries Coinbase’s ‘Onchain Summer’ campaign

August 4, 2023

Kusama responded to Coinbase CEO Brian Armstrong’s update with the statement, “If it isn’t a shadowcat, it’s a copycat.“ Shiba Inu lead developer Shytoshi Kusama has responded to Coinbase’s Onchain Summer campaign. Kusama suggested that the crypto exchange’s campaign appeared to have similarities with the ideas initially presented by the Shiba Inu community. Kusama responded…
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Coinbase Q2 beats estimates amid Blackrock custody deal, institutional focus

August 4, 2023

The crypto exchange’s second quarter revenue beat estimates while non-trading revenue surpassed trading revenue. Crypto exchange Coinbase reported $663 million in net revenue for the second quarter of 2023, boosted by its custody deal with Blackrock and institutional focus, despite recent action taken against it by regulators. Net revenue was down 10% compared to Q2…
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Coinbase Looking to Add Lightning Network Support

August 4, 2023

Coinbase, one of the largest U.S.-based cryptocurrency exchanges, is moving to add support for Lightning Network on its trading platform. Brian Armstrong, CEO of Coinbase, confirmed that the exchange was looking into the best ways to achieve this task, reaffirming his support for bitcoin payments. Coinbase Mulls Adding Support for Lightning Network Coinbase, the U.S.-based…
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Base launches mainnet bridge UI for end users, sets Aug. 9 for official launch

August 3, 2023

Coinbase’s Base network began onboarding end users through a bridge UI, and the team announced Aug. 9 as the platform’s official launch date. Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3…
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