Coinbase Financial News

Singapore-based crypto exchange Vauld is the latest crypto platform to suspend all withdrawals, deposits, and trading citing "financial challenges" amid lingering sour market conditions.

Coinbase Global just launched a derivatives product, its latest attempt to move into a new field and offset weakness in its core spot-trading business. It has a lot of competition.

Crypto exchange Coinbase looks to expand footprint in Europe

Coinbase has long been considered an important bellwether of the cryptocurrency market. Last year, when the company was expanding its workforce, adding institutional clients and issuing stock, crypto prices were hitting record highs. Now, in the depths of crypto winter, Coinbase finds itself slashing a fifth of its workforce, losing retail trading volume and contending with downgrades of its credit and stock.

Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring.

Crypto exchange platform Coinbase denied reports alleging that the company is selling its customer information to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. 

Bitcoin (BTC) finished June 2022 just below $20,000 after a last-minute pump saw bulls escape 40% monthly losses.

A new report has indicated that crypto exchange Coinbase has provided Immigrations and Customs Enforcement (ICE) agents with a “suite of features” intended for tracking the company’s customers. According to the report, ICE has been granted access to an intelligence-gathering application, called Coinbase Tracer, that provides a variety of forensic data tracking capabilities.

Several major crypto companies have commenced a new wave of recruitment amid sour market conditions.

Coinbase is expanding its operations into various countries in Europe amid a "crypto winter." Despite laying off numerous employees and rescinding job offers, Coinbase's vice president Nana Murugesan revealed intentions to register in Italy, Spain, France and the Netherlands.

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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

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Shares of Coinbase Global Inc. (COIN) have been downgraded by analysts at Goldman Sachs after plunging cryptocurrency prices affected the exchange’s underlying business, underscoring the challenges posed by the bear market. 

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Coinbase has come under more pressure after Goldman Sachs downgraded the embattled crypto exchange’s stock to a ‘sell’ rating and said it may need to make more job cuts.

American cryptocurrency trading platform, Coinbase Global Inc has unveiled plans to close down its Coinbase Pro platform by the end of the year.

The week has been quite a ride for Polygon and MATIC as the network and its token have seen significant growth. Surprisingly, the altcoin is still maintaining its rise thanks to solid support from broader market cues as well as a recent development. 

The move comes less than a year after Bitpanda saw its valuation hit $4.1 billion after a $263 million round led by Valar Ventures.In a message to staff, posted on its blog, the firm's founders says: "We need to make fundamental changes in how we operate and sharpen our focus by getting back to the basics, prioritising safety and compliance, user experience, education and community, while deprioritizing everything else."While citing the crypto winter and broader global economic problems, the company acknowledges its own failures. "In keeping up with the industry, our team’s growth rate has been too high...We reached a point where more people joining didn’t make us more effective, but created coordination overheads instead, particularly in this new market reality.

Smaller crypto exchanges could be vulnerable to collapse during this crypto bear market, given seemingly unsustainable yields offered to users, and a confusing “webs of relationships” between companies in the space, a new report from the crypto data provider Kaiko has found.

Coinbase Derivatives Exchange (formerly FairX) is launching its first crypto derivatives product, Nano Bitcoin futures (BIT), on June 27.