Coinbase Global News

Beaten-down crypto broker Coinbase Global said on 10 January that it would lay off around 950 employees as it confirmed a painful 2022 loss of as much as $500m.

Bitcoin headed for its biggest monthly gain in more than three years on Thursday and is within range of a record high as cash rushing to listed bitcoin funds propels a strong rally. The largest cryptocurrency by market capitalisation was firm in Asia morning trade at $62,000, having changed hands at as high as $63,933 overnight. Its monthly gain is more than 45%, the largest since December 2020.

Coinbase Global secured registration with the French markets regulator on Thursday, as it seeks to expand globally under its Go Deep, Go Broad strategy. France's AMF watchdog has given Coinbase virtual asset service provider (VASP) approval, a green light for the company to operate digital currency services. Registration will allow Coinbase to offer its full suite of retail, institutional and ecosystem products and services to users in the country. «Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next one billion people into crypto, while ensuring consumers' assets are secure and that compliance is prioritized,» said Daniel Seifert, vice president and regional managing director, EMEA, at Coinbase. Coinbase had also said earlier this year it was in discussions with the Financial Services Regulatory Authority in the Abu Dhabi Global Market over a potential license for a regulated exchange.

Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions. The world's biggest cryptocurrency was last at $32,833 after trading as high as $34,283. Crypto-related shares such as exchange Coinbase Global, miner Marathon Digital bitcoin holder MicroStrategy rose sharply and were making further gains in after-hours U.S. trade.

Coinbase Global is launching a digital asset lending platform aimed at large institutional investors, a company spokesperson told Reuters on Tuesday. Coinbase has raised $57 million for its new crypto-lending platform, a regulatory filing showed.

bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will fire up a moribund market. Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures to U.S. retail customers. It's early days. But crypto markets are excited by the possibility that the first regulated and listed crypto firm to offer futures trading to U.S. retail investors might revive a shrinking $2 trillion cryptocurrency derivatives market. «Coinbase's approval to offer U.S. futures has the potential to rekindle hope and momentum in the market,» said Lucas Kiely, chief investment officer of digital investment platform Yield App.

Coinbase Global said on Wednesday it had secured approval to offer cryptocurrency futures to US retail customers, scoring a major regulatory win even as it battles a lawsuit from the Securities and Exchange Commission (SEC). The move will allow Coinbase to offer bitcoin and ether futures directly to eligible US customers.

(Reuters) -Coinbase Global said on Wednesday it had secured approval to offer cryptocurrency futures to U.S. retail customers, scoring a major regulatory win even as it battles a lawsuit from the Securities and Exchange Commission (SEC).

The recent crypto platform bankruptcies trapped customer assets now worth around $34 billion, according to Xclaim, which allows creditors to trade such claims. To protect themselves, institutional crypto investors are switching to exchanges that offer stronger asset protection, boosting due diligence on trading partners, and executing trades in smaller chunks, among other new risk management measures, according to executives and industry data. «Investors in this asset class have learned their lessons the hard way and now are being much much more picky about who to deal with,» said Samed Bouaynaya, a digital asset portfolio manager at London-based hedge fund Altana Wealth.

A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison.

The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading.

The biggest cryptocurrency exchange in the US said it was bleeding users, reflecting continued destruction in the crypto market and investors’ unease about risky assets.

digital tokens across blockchains — are creating opportunities for exchanges and other businesses to offer more secure alternatives. Crypto exchanges FTX and Coinbase Global Inc. are deepening their capabilities to provide bridge-like services on various blockchains, so users invested in Bitcoin or Ethereum can easily participate in other networks’ financial or gaming apps. FTX, for instance, launched a marketplace last year that allows customers to trade Solana-based nonfungible tokens, and to easily swap their Ethereum for the chain’s main Sol coin to buy them. Users can also deposit an Ethereum-based NFT and withdraw it on Solana via FTX — instead of a bridge. And more app developers, like institutional lending marketplace Maple Finance, are moving onto new blockchains, making bridges unnecessary for certain transactions. While some measures may have been in the works prior to the breaches, their urgency and attraction have increased after hackers siphoned more than $1 billion out of crypto bridges like Wormhole and Ronin — most of it in February and March. An April survey of 500 U.S. adults by OnePulse showed that 80% of respondents don’t trust crypto networks to protect their funds. While Ethereum-connected bridges still contain some $17.4 billion in value locked, that’s down about 17% in the past 30 days, according to tracker Dune Analytics.

Coinbase Global Inc. conference in Bengaluru, India, on April 7, he had little reason to anticipate the fallout that would shortly ensue. Chatterjee, the company’s chief product officer, told the assembled audience that crypto investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. Hours after Chatterjee’s announcement, the central bank-backed entity that runs the system — called United Payments Interface — said it was “not aware” of any crypto exchange using the network. Within three days of the event, Coinbase had halted rupee transfers to its trading app via UPI. The abrupt reversal left Coinbase customers without any way of funding their accounts with rupees, dealing a blow to its expansion plans in India. “We are committed to working with NPCI and other relevant authorities to ensure we are aligned with local expectations and industry norms,” a spokesperson for Coinbase said in a statement to Bloomberg on April 11, referring to the National Payments Corporation of India, which operates UPI.

Eric Adams on Thursday said his first paycheck, to arrive on Friday, will be automatically converted into cryptocurrency via Coinbase Global Inc. The salary will be converted to ethereum and bitcoin, the statement added. The mayor last year said he would take his first three paychecks in bitcoin and signaled his intention to make his city the «center of the cryptocurrency industry».

Brian Armstrong, chief executive of crypto exchange Coinbase Global said on 9 November that the company aims to provide a social experience through its planned non-fungible token, or NFT, marketplace, making the platform more akin to Instagram than eBay.

Mumbai: Coinbase Global Inc., the largest cryptocurrency exchange in the US, has acquired Agara, an artificial intelligence-powered support platform, to further its India push. Coinbase began hiring in India this year and expanding to build a high-quality tech hub.