Browsing:Coinbase

Over 18000 Bitcoin (BTC) were removed from Coinbase
1 week ago 1 min read

Coinbase exchange sees over 18,000 BTC withdrawn

Over 18,000 Bitcoin (BTC) were removed from Coinbase, one of the largest crypto exchanges, according to data from Arkham Intelligence. This move, which cost almost $1 billion, decreased Coinbase’s Bitcoin holdings. These BTC coins were withdrawn and split among different new wallets; the total amount in these wallets ranged from $45 million to $171 million. After this redistribution, Coinbase now holds around 390,000 BTC worth around $20.5 billion, which is less than 2% of all Bitcoin that is available on exchanges. This represents its lowest percentage of holdings since 2015. The destination crypto wallets have not been identified, so the

Coinbase turned a profit for the first time since the Q4 of 2021
2 weeks ago 1 min read

Coinbase shares have turned a profit since 2021

Following a strong fourth-quarter earnings report in which the firm swung to profit and earnings that exceeded Wall Street expectations, Coinbase’s shares increased by over 12.5% after hours. Coinbase’s net revenue in the fourth quarter exceeded consensus estimates of around $825 million, rising 45.2% from the third quarter to $905 million. At the same time, the firm turned a profit for the first time since the fourth quarter of 2021, with a net income of $273 million. Coinbase reported a $2 million net loss for the prior quarter. With $529.3 million in revenue, transaction profit accounted for most of the

The Total Value Locked (TVL) in the Base Network has risen to nearly $734 million
2 months ago 1 min read

Coinbase’s Base Network Achieves Consistent Growth, Reaching $734 Million in Total Value Locked

Despite a slowdown in the initial growth surge, Coinbase‘s Base Network, an initiative developed through its incubator, continues to make steady progress. According to L2Beat data, the Total Value Locked (TVL) in the Base Network has risen to nearly $734 million, a 4.63% increase from the previous week. The Base Network TVL has increased significantly since its formal launch in August 2023, starting at $592 million at the end of November. The initiative is built on the Optimistic Rollup architecture, which allows for the integration of various decentralized applications. With over 6.97 million transactions completed in the last 30 days,

Coinbase launches a feature that allows users to send crypto via social media links
3 months ago 1 min read

Coinbase launches a feature that allows users to send crypto via social media links

Coinbase Wallet has launched a feature that will change the way users transfer crypto. Users can now send digital assets through social media links with the click of a button, making crypto enthusiasts’ lives easier. This significant update, announced in a blog post on December 5, represents a significant step forward in making crypto transfers more accessible and efficient. The ability to facilitate instant and fee-free transfers using USD Coin (USDC) is the highlight of this new feature. This means that users can send funds anywhere in the world without incurring any fees, simplifying the process and eliminating the need

Cathie Wood-Led Ark Invest Trims Coinbase Position, Unloading $1.4 Million Worth of Shares
3 months ago 1 min read

Cathie Wood’s Ark Invest Sells $1.4M in Coinbase Holdings

Ark Invest, under the guidance of Cathie Wood, is making strategic shifts in its investment portfolio. While the firm decided to part ways with Coinbase (COIN) shares, anticipating a market peak, it simultaneously doubled down on the potential of Robinhood (HOOD) amid expectations of significant market swings. Ark Invest’s recent decision saw the sale of 10,218 Coinbase shares, totaling $1.4 million. This move follows the extraordinary surge in COIN stocks, reaching a 19-week high. The ARK Innovation ETF (ARKK) offloaded 7,248 Coinbase shares, while the ARK Fintech Innovation ETF (ARKF) divested 2,970 COIN stocks. Despite the sell-off, Coinbase (COIN) continues

Coinbase crypto exchange has disclosed a 6% uptick in law enforcement requests compared to the previous year
3 months ago 1 min read

Coinbase exchange sees a 6% rise in law enforcement requests

Coinbase crypto exchange has disclosed a 6% uptick in law enforcement requests compared to the previous year, according to its annual transparency report. The surge in requests reflects an intensification of global cryptocurrency regulations, with the United States, Germany, and the United Kingdom leading the way. Coinbase reported a 6% increase in law enforcement requests from Q4 2022 to Q3 2023. The number of countries seeking information surged by 19, signaling a growing focus on cryptocurrency-related activities by regulatory authorities worldwide. The United States, Germany, the United Kingdom, and Spain collectively accounted for 73% of the total 13,079 requests made

ARK Invest sells another $5 million of Coinbase (COIN) shares
3 months ago 1 min read

ARK Invest sells another $5 million of Coinbase (COIN) shares

ARK Invest, led by Cathie Wood, continued its market maneuvering on Wednesday, focusing on the crypto and fintech sectors. The investment firm chose to sell 38,668 Coinbase (COIN) shares from its Ark Fintech Innovation ETF (ARKF) for $5 million. This move follows the sale of 43,956 COIN shares earlier this week, which coincided with the crypto exchange reaching its highest level since April 2022. Despite a minor dip, with COIN closing down 0.35% at $127.82 on Wednesday, the exchange has seen significant gains, with a more than 77% increase over the last month and a 281% increase year-to-date. ARK Invest

ARK sold off 43,956 Coinbase shares on November 27. Coinbase stock was trading for $119.7
3 months ago 1 min read

ARK Invest sells $5.2M in Coinbase Shares amid 18-month high

Recently, ARK Invest took advantage of the rising price of Coinbase (COIN) stock, signaling yet another round of profit-taking. From its ARK Fintech Innovation ETF (ARKF), ARK sold off 43,956 Coinbase shares on November 27. At the time of the sale, Coinbase stock was trading for $119.7 per share, or around $5.3 million. This action comes after Binance and its former CEO Changpeng Zhao entered a guilty plea to charges of money laundering and violating sanctions on November 21, 2023, which caused Coinbase’s stock to reach an 18-month high. stock has risen 168% in the last year, with a 220%

South Korea’s National Pension Service Invests Heavily in Coinbase with a $19.9M Purchase
3 months ago 1 min read

This South Korean Company Invests Heavily in Coinbase with a $19.9M Purchase

The South Korean National Pension Service (NPS), a major global pension fund with over $755 billion under management, has made an entry into the crypto sector by investing $19.9 million in Coinbase shares. This move reflects large institutional investors’ cautious yet optimistic approach to the rapidly growing crypto market. The NPS has decided to invest through the Coinbase crypto exchange rather than directly purchasing cryptocurrencies. This approach fits with the trend of large institutions investing in businesses connected to the crypto space in order to indirectly participate in the market. With its crucial position in the cryptocurrency space, Coinbase has

Coinbase to Delist Five Cryptos Worth Over $60 Million
4 months ago 1 min read

This Crypto Exchange to Remove Five Digital Assets Valued at Over $60 Million

Coinbase crypto exchange, is making a move by delisting five cryptocurrencies with a combined market valuation of over $60 million. The exchange said that the decision, affecting Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE), follows a thorough review of the assets and their failure to meet Coinbase’s listing standards. In addition, the team noted that delisting is scheduled for November 3, 2023, but investors can rest assured that their investments will be recoverable post-delisting. Coinbase maintains strict listing criteria and periodically evaluates assets on its platform to ensure they meet these standards. This commitment to quality

Coinbase's Layer-2 Network, Unveils Open-Source Code to Fuel Collaboration
4 months ago 1 min read

Coinbase’s Layer-2 Solution Base Shares Open-Source Code for Developer Engagement

Coinbase’s Base network made a big move on October 19 by open-sourcing its code and smart contracts for developers. The company said that the motivation behind the decision is to provide more transparency and insight into the Base project’s development. All the smart contracts and scripts that make Base work are now available for everyone to see on GitHub. This open-source development empowers developers to dig into the code that governs how deposits and withdrawals work on the Base network. It’s a bit like letting people peek under the hood of a car to see how the engine works. This

Coinbase crypto exchange has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).
5 months ago 1 min read

Coinbase Secures Payment License in Singapore

Coinbase crypto exchange has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). This means that Coinbase will now be able to offer its digital payment token services to individuals and institutions in Singapore. The MPI license is a highly regulated license that allows financial institutions to provide a wide range of payment services, including money transfers, payment processing, and foreign exchange. To obtain an MPI license, financial institutions must meet strict requirements set by the MAS, including having a strong track record of compliance and financial stability. Coinbase’s CEO, Brian Armstrong, said that