The main topic is the launch of Coinbase's layer-2 blockchain Base's mainnet to the public on August 9. Key points include:
- Base has been operating on the testnet since late February and launched its "builder only phase" in mid-July.
- Users can start bridging their funds onchain to mint NFTs and experience Base.
- Base will kick off its Onchain Summer initiative, partnering with consumer brands like Coca-Cola and Atari.
- Base has seen over $68 million worth of ether bridged to the network and over $200 million in trading volume and transactions.
- The blockchain is partnering with Prop House to offer grants to builders building on Base.
- Onchain activity is growing quickly.
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.
Big crypto companies like Coinbase, Binance, and a16z are choosing OP Stack, a software building block created by Optimism, for their own layer-2 blockchain solutions despite the popular belief that zero-knowledge (ZK) rollups are the future of scaling Ethereum. The flexibility of OP Stack and the ease of implementation are key factors in this decision, with the expectation that companies will eventually migrate to ZK rollups once they are readily available.
Coinbase may be misrepresenting itself as an exchange and could be violating state money transmitter licenses, according to allegations made by ChainArgos' CEO and General Counsel. The company argues that Coinbase is legally an over-the-counter (OTC) broker rather than an exchange operator, and it may be in violation of its licenses with its Ethereum platform, Base.
Base, the Layer 2 scaling solution from Coinbase, has experienced a significant increase in transactions per second (TPS) due to the trend called Friend.tech, according to CEO Brian Armstrong. Base's TPS has exceeded that of Ethereum, with a TPS value up by over 75% in the past week, making it a major L2 protocol to watch out for.
Coinbase has released a plan called the "Base Neutrality Principles" to ensure decentralization and neutrality for its new blockchain, Base, without exerting control over it, in accordance with Optimism's vision for a "Superchain."
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.
The cost of executing transactions on Ethereum's blockchain has reached its lowest point since December, indicating the increasing popularity of scaling solutions such as Friend.tech built on Coinbase's L2 chain, which has contributed to the decline in fees.
Coinbase's stock experienced a significant surge after a federal judge ruled in favor of Grayscale in their SEC dispute, leading to hopes of a potential Bitcoin ETF and increasing the value of COIN by over 15%.
The implementation of layer-2 projects, including Coinbase's Base, on Ethereum has led to a significant decrease in transaction fees and congestion on the network, even during periods of high activity such as the recent explosion of the Friend.tech crypto craze.
Coinbase CEO Brian Armstrong shared ten emerging ideas in the cryptocurrency space that excite him, including the creation of a CPI-linked stablecoin, on-chain reputation systems, on-chain advertising, and decentralized labor markets.
PancakeSwap, the leading decentralized exchange on BNB Chain, is expanding to the Coinbase-incubated Ethereum layer-2 network Base, aiming to bring more accessibility and functionality to users and drive mass adoption of DeFi.
Coinbase's layer-2 solution, Base, experienced four security incidents shortly after its launch, resulting in the loss of $15.8 million in cryptocurrencies in August.
Coinbase's layer-2 solution, Base, has become the fastest network to reach 1 million addresses, attracting big brands and generating $3.3 million in profit since its launch.
Coinbase has launched a new crypto lending service for institutional clients, offering overcollateralization and secured loans in the wake of the bankruptcies of similar firms Genesis and BlockFi.
Coinbase's Ethereum layer-2 network Base experienced its first major outage, lasting for 43 minutes, due to a delay in block production, highlighting the potential risks of using layer-2 networks compared to Ethereum's mainnet.
The Tokenized Asset Coalition, consisting of industry leaders such as Coinbase and Circle, aims to promote the tokenization of traditional financial assets on a blockchain to bring the "next trillion dollars of assets" on-chain through education, advocacy, and fostering adoption of public blockchains and decentralized finance.
Coinbase CEO Brian Armstrong discusses the company's base layer 2 blockchain network, interest in flatcoin, and the need for regulatory clarity in the crypto industry, suggesting that the courts, congress, and the CFTC could provide clarity and that there could be a new SEC chair in 2024.
The lack of clear crypto regulations in the US has caused significant issues for the industry, leading to collapses and a weakening of America's position as a financial hub, according to Coinbase CEO Brian Armstrong. He emphasizes the need for clear rules that recognize the innovation potential of the technology while protecting consumers. Armstrong also highlights the potential benefits of Bitcoin exchange-traded funds (ETFs) and Coinbase's role as custodian in many ETF applications.
Coinbase CEO Brian Armstrong revealed in an interview that the exchange is interested in developing the next generation of stablecoins, including the concept of flatcoin, which would be backed by the Consumer Price Index (CPI) or purchasing power rather than a fiat currency.
Coinbase has introduced a Web3 wallet for institutions, allowing professionals to access crypto, NFTs, dapps, and DeFi in a secure and controlled manner.
Crypto exchange Coinbase has confirmed its decision to integrate the Lightning Network, a layer 2 payment protocol, in order to enable faster and cheaper Bitcoin transactions and compete against newer cryptocurrency projects.
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.
Coinbase's layer-2 scaling solution Base set a new daily transaction record with over 1.8 million transactions, surpassing the combined total of its rivals Arbitrum and Optimism.
Coin Metrics' latest report shows that Coinbase's revenues have diversified away from trading fees, now accounting for 77% of total revenues, as other business lines like subscription fees and wallet services contribute an increasing share. However, Coinbase's growth is limited due to its high trading fees and dependence on the U.S. market, making its future uncertain.
Cryptocurrency exchange Coinbase has obtained an Anti-Money Laundering registration from the Bank of Spain, allowing it to offer its services to retail and institutional investors in Spain.
Coinbase, the largest cryptocurrency exchange in the United States, holds around $25 billion in Bitcoin reserves, a sum comparable to the holdings of Bitcoin's enigmatic founder, Satoshi Nakamoto.
Coinbase is looking to diversify its revenues, but for now, it remains heavily reliant on Bitcoin trading.
Coinbase is leading a major lobbying effort in Washington D.C. to garner support for new regulations in the cryptocurrency industry.
Coinbase CEO Brian Armstrong emphasizes the importance of the US establishing a regulatory framework for crypto assets, stating that it is a national security issue and that the country is falling behind other major economies in terms of regulatory clarity, resulting in a decline in the US job market share for the crypto industry.
Decentralized social media platform Friend.tech, built on Coinbase's layer-2 protocol, has experienced significant growth in revenue and total value locked, proving critics wrong who predicted its failure.
Blockchain technology is breathing new life into traditional assets as big finance firms invest in token trading and investment platforms, with more than a third of institutional investors in the U.S. and almost two-thirds of high-net-worth investors planning to invest in tokenized assets this year or next.
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.
Ethereum's Layer-2 networks accounted for the majority of transactions in Q3, driven by the launch of Base and the popularity of Friend.tech, according to Messari's State of Ethereum report, with Base's growth exceeding expectations and highlighting the potential impact of new apps on blockchains. However, the report also notes that interest and enthusiasm in the market remain low due to the bear market.
The chief content officer of CoinDesk, Michael Casey, discusses the future of cryptocurrency and the challenges facing the industry, including regulation and the need for decentralized systems to protect against fraud and manipulation by centralized entities. Despite recent setbacks, Casey remains optimistic about the potential of blockchain technology and the importance of creating a safer, more decentralized financial system.
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.
Blockchain technology offers new horizons in terms of user governance and digital interaction, but the technical requirements and complexity often prevent newcomers from running a node and becoming a validator; however, efforts such as Over Protocol's lightweight full nodes and user-friendly interfaces aim to lower entry barriers and facilitate decentralization.
Coinbase is pressing the U.S. Securities and Exchange Commission (SEC) to respond to its rulemaking petition on clarifying the application of securities laws to digital assets within 30 days.
Coinbase will present its final arguments to a judge, asserting that the SEC lacks evidence to show that its transactions were unregistered securities and that the agency's regulation of the crypto industry violates the "major questions doctrine." The outcome of the case could have significant implications for the future of digital assets in the US.
The price of Bitcoin is rising, benefiting micro strategy and its profitable Bitcoin holdings, while Coinbase is making a final plea to throw out the SEC's securities case against them, and Hong Kong's financial regulator has relaxed rules on the sale of spot products.
Coinbase Global stock, while not a direct cryptocurrency investment, offers investors the opportunity to benefit from the potential approval of a spot Bitcoin ETF and the growing popularity of Bitcoin, making it a good time to consider investing in COIN stock.
