Cryptocurrency exchange Coinbase is acquiring a minority stake in Circle Internet Financial, dissolving their partnership and bringing the stablecoin USD Coin fully in-house, while also adding native support for USDC on six additional blockchains, bringing the total to 15.
Coinbase receives approval for futures trading in the US and the SEC is considering approving an Ethereum ETF, signaling progress in the crypto industry.
Coinbase's new Base blockchain, which operates as a layer-2 network atop Ethereum, has gained significant traction with its application Friend.tech attracting over 100,000 users and generating $25 million in fees, pushing its total value locked past $200 million and its transactions per second above Ethereum and rival layer-2 projects Arbitrum and Optimism.
Coinbase is in talks with major Canadian banks to gain support for the crypto industry in Canada as it faces regulatory uncertainty in its home country, aiming to have the banks participate in the crypto economy in the near future.
Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.
Coinbase's layer 2 blockchain, Base, has experienced a surge in daily transactions, reaching an all-time high, with the increase mainly driven by a decentralized social network platform called Friend.tech.
PayPal expands its crypto services with new on-ramps and off-ramps for cryptocurrencies in the United States, Franklin Templeton files for a spot Bitcoin ETF, Coinbase integrates the Bitcoin Lightning Network, and Meta is developing a new AI model to rival OpenAI's system.
Crypto exchange Coinbase has registered with the central bank of Spain, making it mandatory for the company to comply with anti-money laundering standards and paving the way for implementation of the European Union's MiCA regulation in 2024.
Coinbase's blockchain, Base, has quickly become a major player in the Ethereum-based layer-2 chain space, hosting numerous decentralized projects and seeing a high volume of transactions and new addresses, with the goal of bringing a billion users on-chain within this decade. The company aims to drive mainstream adoption by reducing costs, improving user experience, and developing better identity infrastructure, and believes that blockchain technology is moving from a speculative phase to one focused on utility for everyday people.
Crypto exchange Coinbase has received approval from the Bermuda Monetary Authority to offer perpetual futures contracts to non-U.S. retail customers, a move that aligns with its strategy to collaborate with regulatory authorities and shape the global legal framework for cryptocurrencies.
Coinbase, the top US crypto exchange, is focusing on international markets due to regulatory uncertainty in the US and aims to bring a billion people into crypto.
The use of Bitcoin's Lightning Network has increased significantly, with a 1,212% growth in two years and around 6.6 million routed transactions in August 2023, making it a more viable medium of exchange.
Coinbase, the largest US crypto exchange, argues that a proposed IRS rule to define crypto brokers and regulate tax payments will threaten the industry and invade Americans' privacy.
