Coinbase Ends Bitcoin Payments, Develops New Commerce Solutions Amid Fraud Concerns and Stock Upgrade
• Coinbase Commerce removing native Bitcoin payments due to operational challenges like volatility risk and manual effort to fix incorrect payments
• Platform developing new on-chain payments protocol with smart contracts to enable seamless off-chain commerce
• Exploring Lightning Network and Solana as other potential payment solutions
• Coinbase (COIN) stock price surged 10% after JPMorgan upgraded rating to neutral based on Bitcoin price momentum
• Caution about Coinbase reset fraud scams that trick users into giving up login credentials, with one victim losing $4 million in ETH