In a break with historical norms, the exchange’s volumes continue to fall even as the bitcoin price has risen, suggesting disengagement by retail customers, the report said.
Coinbase Exchange Remains Inactive in India, While Other Operations Are Still Active
Coinbase continues to operate its tech-hub in India and provide wallet services to Indian customers while its exchange operations remain suspended.
Coinbase issues clarification after reports of it ceasing services in India
A Coinbase spokesperson cleared some of the confusion after a circulating rumor suggested that it would be shuttering all services for Indian customers.
DC doesn’t realize how powerful crypto voting is — Brian Armstrong
According to Brian Armstrong, the gap between current crypto policies and Americans needs will make cryptocurrencies a hot topic in the upcoming elections.
Crypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performance
This week’s Crypto Biz explores Coinbase’s lending platform, Marathon Digital’s latest Bitcoin mining report, Hana Bank’s move to offer crypto custody and Google’s new crypto ads policy.
Coinbase Advanced’s Moheeth Alvi sees pro traders as next wave of crypto users
Alvi says the company is focused on bringing the next billion users to crypto, and attracting pro traders is a major part of its plans.
Coinbase Targets Regulatory Clarity in International Expansion Plan
Coinbase is looking at “markets that are enacting clear rules” for the crypto industry, with the European Union, U.K., Canada, Brazil, Singapore and Australia its near-term priorities.
Coinbase signals EU, Canada, Brazil, Singapore and Australia as priorities
The crypto exchange’s focus on non-U.S. markets is part of a next phase in its expansion plans, said the firm.
Tokenization Advocacy Group Wants to Bring the ‘Next Trillion’ of Assets to Blockchain
Founding members such as Coinbase, Circle and Aave Companies aim to foster the use of blockchain technology for traditional assets.
The Protocol: Ethereum Learns of Potential Defector as ‘Supreme Court’ Mooted
What is a blockchain “sequencer?” Here’s why you need to know
Base’s ‘Onchain Summer’ saw over 700K NFTs minted from 268K users in August
The “Onchain Summer” promotion drove activity to the new network, with hundreds of thousands of users minting NFTs in August.
Coinbase, Framework Venture Funds Invest $5M in Socket Protocol, in Bet on Blockchain Interoperability
The fundraise comes as interoperability protocols have attracted investors, despite the bear market.
Coinbase launches crypto lending platform for US institutions
Coinbase’s new institutional lending service has the same operating entity as Coinbase Borrow, which halted issuance of new loans in May.
Coinbase Creates New Crypto Lending Service Geared Toward Large Investors
Coinbase (COIN) raised $57 million for the platform as of Sept. 1, according to an SEC filing.
Coinbase to upsize debt repurchase by $30M
A total of $180 million 2031 Senior Notes will be repurchased by the exchange.
Coinbase vs SEC: New attorney Patrick V. Kennedy joins fight
Attorney Patrick V. Kennedy files a motion to appear pro hac vice in the Coinbase vs. U.S. SEC lawsuit for the Chamber of Digital Commerce.
Base TVL Surges By 76% Amidst New DeFi Protocol Hype
Base, an Ethereum layer 2 (L2) network developed by prominent cryptocurrency exchange Coinbase, has seen its total value locked (TVL) soar to new heights on Friday, August 31. This surge was triggered by the recent launch and growing hype around the decentralized exchange (DEX) platform Aerodrome.
Total Value Locked on Base Reach $333 Million
The total decentralized finance (DeFi) deposits on Base have hit a new all-time high following a nearly 76% spurt in the past 24 hours. According to data from DefiLlama, the network’s TVL currently stands at $346.39 million, jumping from $196.8 million a day ago.
This sharp rise has seen Base leap into the top ten blockchains with the largest TVL, sitting above Solana in ninth position. However, Ethereum remains the dominant network in the decentralized finance space, with a total value of roughly $22.1 billion.
BREAKING: Total Value Locked on @BuildOnBase has surpassed $300M and entered the top 10 blockchains with the largest TVL pic.twitter.com/KC7tClvA1g
— Base Daily (@BaseDailyTK) August 31, 2023
Interestingly, this latest feat only underscores the overall progress of Base since opening its doors to the public on August 9, 2023. The Coinbase-incubated network’s TVL has swelled more than 733% since the public mainnet launch.
One of the notable catalysts of the Base’s growth was the short-lived hype of the social media platform Friend.tech. However, activity on the decentralized app has since hit a snag, with trading fees dipping by more than 94%.
Aerodrome Drives An Inflow Of $170 Million To Base
As earlier mentioned, the latest resurgence in Base’s DeFi deposits was triggered by the growing interest in the Aerodrome protocol, which recently launched on the blockchain.
Aerodrome is a decentralized exchange developed by the team behind Velodrome, a popular DEX on the Optimism chain. The platform rewards users who provide liquidity and participate in protocol governance with its native token, AERO.
Thanks to the AERO emissions, which began on August 30, Aerodrome has attracted more than $170 million in value to the Base network. Meanwhile, this has reflected a significant 6,000% rise in the protocol’s TVL in the past 24 hours.
Despite the initial negative sentiment brewing around Base due to the BALD rug pull, and various DeFi protocol exploits, it appears that major cryptocurrency projects are continuing to expand to the layer 2 network.
PancakeSwap, the second-largest decentralized exchange, is one of the protocols to have recently joined the trend. The DeFi platform went live on the Base network on Thursday, 30th of August.
SEC Could Prepare Alternative Arguments to Reject Spot Bitcoin ETFs: Berenberg
Coinbase’s potential involvement in spot bitcoin ETFs could serve as part of the SEC’s reconfigured arguments for rejecting the applications, the report said.
Coinbase CEO reveals top 10 crypto ideas he’s urging devs to work on
From flatcoins to on-chain advertisements, Brian Armstrong hopes aspiring developers take the time in the bear market to build out these crypto concepts.
Coinbase (COIN) And Bitcoin-Related Stocks Soar Following Grayscale’s Victory
Coinbase and other crypto-related companies witnessed a significant rise in stock prices following reports that Grayscale has emerged victorious in its lawsuit against the United States Securities and Exchange Commission (SEC).
On Tuesday, August 29, the US District of Columbia Court of Appeals ruled that the SEC did not provide a “consistent justification” for rejecting Grayscale’s request to convert its Bitcoin Trust (GBTC) into a spot exchange-traded fund (ETF). This decision brings the asset management firm closer to offering a spot Bitcoin ETF in the US.
The price of Bitcoin reacted positively to this development, breaking above and beyond the $26,000 mark. According to CoinGecko data, the premier cryptocurrency is currently valued at $27,136, reflecting a 3.8% price gain in the past week.
Coinbase (COIN) Rally 15% After Grayscale’s Win
The value of Coinbase’s stock COIN stood at $84.70 by the close of the trading session on Tuesday, representing a 15.2% increase from the day’s opening price.
The crypto company’s stock surged by nearly $13 per share, climbing from $73.5 per share to almost $86 during the day, according to Coinbase’s stock information. Coinbase, the largest cryptocurrency exchange in the United States, became publicly listed on Nasdaq in 2021.
This price jump is believed to have been triggered by the success of Grayscale’s appeal against the United States SEC, as mentioned above. While the court’s decision doesn’t automatically convert the asset manager’s Bitcoin Trust to a spot ETF, it is still perceived as a significant milestone in launching the financial product in the North American country.
If spot Bitcoin ETFs receive approval from the Securities and Exchange Commission, Coinbase could become one of the biggest winners due to its surveillance-sharing agreements with some applicants, including the world’s largest asset manager, Blackrock.
These arrangements aim to mitigate potential market manipulation risks – a concern raised by the SEC after the initial Bitcoin ETF submissions.
Marathon and Riot Witness Surge In Stocks Price
Coinbase was not the only cryptocurrency company that enjoyed the ripple effect of Grayscale’s legal triumph. Bitcoin mining companies, like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT), also felt a positive impact on their stock prices.
Favorable judgments, such as the latest Grayscale victory, often boost the interest and optimism of investors in the cryptocurrency industry and crypto-related products. As a result, companies operating in the cryptocurrency space, including Bitcoin mining firms, are likely to receive increased attention from investors.
According to TradingView, the value of MARA soared by about 30% on Tuesday, closing at $13.69 per share by the end of the day’s trading session. Likewise, the RIOT price experienced an 18.2% rally, climbing from $10.39 per share to almost $12.3 at the end of the day.
As of this writing, the Marathon Digital Holdings stock is trading at $12.94 per share, reflecting a 5.2% decrease since the opening of Wednesday’s (30th of August) trading session. Meanwhile, Riot Platforms’ stock has currently declined by 4% to trade at $11.8 per share.