Crypto exchange Coinbase has been fined $3.6 million by the Dutch Central Bank
2 weeks ago 1 min read

Dutch regulator fines Coinbase $3.6 million for non-compliance

Crypto exchange Coinbase has been fined 3,325,000 euros ($3.6 million) by the Dutch Central Bank for offering crypto services to customers in the Netherlands without registering under the anti-money laundering and terrorist financing norms. The fine is due to the company’s failure to comply with the laws in the country. The Dutch Central Bank explained that the fine was increased due to the severity and degree of culpability of the non-compliance. Additionally, the regulator took into account the scale of Coinbase’s Dutch customer base and the competitive advantage the company gained by not paying supervisory fees. Coinbase has until March

Coinbase exchange has announced it has listed Kava
3 weeks ago 2 mins read

Coinbase Lists KAVA, Advancing Ethereum–Cosmos Interoperability

San Francisco, California, 18th January, 2023, Chainwire Today, Coinbase has listed Kava and will launch a massive Learning Rewards Campaign to educate its user base about how Kava is leading the world to Web3. Kava is a decentralized layer-1 blockchain that combines the speed and interoperability of Cosmos with the developer power of Ethereum. Kava has spent the last year building a deep integration with Coinbase that optimizes the process for Cosmos SDK chains to integrate with Coinbase helping to drive new liquidity to the Cosmos ecosystem. Unlocking Cosmos LiquidityCoinbase’s native integration with Kava allows for easy listing of Kava ecosystem projects,

3 weeks ago 1 min read

Coinbase halts operations in Japan, requests customers to withdraw holdings

Coinbase, one of the world’s largest cryptocurrency exchanges, has announced that it will halt its operations in Japan. The company has asked its Japanese customers to withdraw any crypto and fiat holdings by February 16th, as it conducts a “complete review” of its business in the country. According to a blog post by Coinbase, after February 16th, any remaining crypto holdings will be converted to Japanese yen and sent to a Guaranty Account at the Legal Affairs Bureau in accordance with legal requirements. Customers will then need to coordinate with the Legal Affairs Bureau to retrieve their balance. Additionally, fiat

The Japanese crypto market
3 weeks ago 1 min read

Crypto exchange Coinbase considers pulling out from Japanese market

The Japanese cryptocurrency market continues to experience upheaval as the industry continues to experience the fallout from the collapse of FTX. Coinbase’s decision to explore the potential withdrawal of its business from the country could have far-reaching implications for the crypto industry in Japan and beyond. As regulatory expenses are expected to rise, other major players in the industry are also looking to reassess their presence in the market. The Payward group’s decision to close down its operations in Japan, and the move to request clients to move any residual crypto assets they own onto digital wallets hosted by third-party

Coinbase announces 20% workforce reduction in latest round of layoffs
4 weeks ago 1 min read

Coinbase cuts 20% of workforce in latest round of layoffs

Coinbase has announced another round of layoffs, which will affect 950 employees and reduce its operating expenses by 25%. The company CEO Brian Armstrong said that, while the decision was difficult, it was necessary in order to reduce expenses and increase the chances of doing well in every scenario. This is the latest round of layoffs, after the company cut 1,100 jobs, or 18% of its workforce, in June 2022 and 60 employees in November 2022. Coinbase estimates that its plan will cost between $149 million and $163 million in restructuring expenses, with around $58 to $68 million of this

Coinbase crypto exchange
1 month ago 2 mins read

A Comprehensive Review of Coinbase Exchange: Features, Fees, and More

Coinbase is a well-known and reputable cryptocurrency exchange that was founded in 2012. It is headquartered in San Francisco, California, and serves users in over 100 countries around the world. Coinbase is known for its user-friendly interface and easy-to-use platform, making it a great choice for beginners looking to enter the world of cryptocurrency trading. Features One of the key features of Coinbase is its wide range of supported cryptocurrencies. In addition to popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, Coinbase also supports a variety of other digital assets. This makes it a great choice for users looking to diversify

Coinbase exchange USDC
2 months ago 1 min read

Coinbase urges its customers to switch from Tether’s USDT to USDC, expressing its disapproval of the former

Amid increasing concerns about the credibility of Tether’s USDT, Coinbase has announced a campaign to encourage users to switch to its own stablecoin, USDC. By eliminating conversion costs, Coinbase hopes to emphasize the quality of the Circle-backed USD coin reserves. In a Friday blog post, the company stated, “Recent events have put some Stablecoins to the test, and we’ve seen a flight to safety. We believe USDC is a reliable and trustworthy Stablecoin, so we’re making it easier to switch.” Coinbase has highlighted the importance of trust and stability for its customers, noting that USDC is one of the most

Coinbase crypto exchange
3 months ago 1 min read

Crypto exchange Coinbase revenue drops nearly 50%

Coinbase, the most renowned American crypto exchange, recently released its third-quarter 2022 report. However, its sales figures are unimpressive. Furthermore, the exchange recently released its third-quarter report, which fell short of most analysts’ estimates. According to the report, Coinbase’s revenue fell by half from the previous year due to changes in trading activity. As a result, the company lost around $545 million, compared to a profit of $406 million in the third quarter of 2021. Coinbase informed its stockholders of the decline in revenue. It stated that the firm’s negative posture was created by poor macroeconomic conditions and a decreasing

Brian Armstrong Coinbase CEO
3 months ago 1 min read

Coinbase requests permission to help Ripple Labs in its ongoing legal battle with SEC

Cryptocurrency exchange Coinbase has requested permission to assist Ripple Labs in its ongoing legal battle with the SEC. In a series of tweets on October 31, Coinbase’s chief legal officer, Paul Grewal, stated that the exchange had asked the presiding judge for permission to file an amicus brief, citing the case as a “textbook” example of “just how critical fair notice is.” An amicus brief, also known as a “friend of the court,” is a legal document that contains advice or information about a court case from a non-party organization or individual. Grewal went on to say that authorities cannot

4 months ago 1 min read

MakerDAO joins forces with Coinbase to become the largest USDC holder

Coinbase stated on October 24 that the MakerDAO board had voted in favor of the proposal to take custody of $1.6 billion USDC with Coinbase Prime. This means that Coinbase has for the first time extended its USDC rewards program to an institutional client. MakerDAO will keep the money with Coinbase Prime, the company’s institutional broker, and earn 1.5% on it. On October 24, the proposal received 75% of the votes cast, or 109,944 MKR tokens. Coinbase believes that stablecoins will play an important role in the future of finance. Over the last few years, its USD Coin has increased

5 months ago 1 min read

Former ICO Veritaseum has filed a $350 million lawsuit against Coinbase for violating its patents

Another cryptocurrency startup is suing Coinbase, the largest exchange in the country, on the grounds that Coinbase infringed on its proprietary crypto transfer method. According to Reuters, Veritaseum Capital LLC filed the case on Thursday at a federal court in Delaware. The complaint notes that Coinbase is making use of a patent that the US Patent and Trademark Office granted to Reggie Middleton, the founder of Veritaseum, in December of last year. Low-trust peer-to-peer value transfer is made possible by patent technology, which is “conditional on input from or participation of a third party.” Among other things, Veritaseum Capital claims

Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering
6 months ago 3 mins read

Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering

San Francisco, United States, 19th July, 2022, Chainwire Portal, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th. Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the