Coinbase in Talks To Create a Federally Regulated Crypto Exchange
Amid the heightened regulatory scrutiny over the cryptocurrency sector following the implosion of FTX and the resulting wide-reaching market collapse, Coinbase and IEX are reportedly considering teaming up to address the underlying problem and create a regulated crypto trading platform.
Crypto Exchange Coinbase Exceeds Revenue Expectations in Q4 2022
Cryptocurrency exchange Coinbase has exceeded revenue expectations for the fourth quarter of 2022, but its transaction volume continued to decline.
Cointime News Wrapup-Afternoon Version: Blur to Airdrop $300M In Extra Tokens to 'Loyal' NFT Traders
Afternoon version
Coinbase Staking 'Fundamentally Different’ to Kraken's — Chief Lawyer
The staking services offered by cryptocurrency exchange Coinbase are “fundamentally different” to what was offered by its peer exchange Kraken — which recently came under fire from the United States securities regulator — according to Coinbase's head lawyer. Paul Grewal, Coinbase’s chief legal officer, made the comments in his response to a shareholder question regarding its staking services during a Q&A session on the exchange’s fourth-quarter results, noting: “The staking products that we offer on Coinbase are fundamentally different from the yield products that were described in the reinforcement action against Kraken. The differences matter.” (Cointelegraph)
Coinbase, IEX Exploring Plans for Crypto Trading Platform: Report
Coinbase is reportedly in talks with the New-York based Investor Exchange (IEX) to build out a federally approved digital assets marketplace. Chaired by veteran trader Brad Katsuyama, IEX is said to be hoping to take a second run at launching the exchange after its initial partner, former FTX CEO Sam Bankman-Fried, was indicted. A spokesperson for IEX told Fox Business Tuesday that while the exchange had not “finalized any specific proposal that includes any third parties” it was aiming to create a regulatory pathway for digital asset securities. Katsuyama did not immediately reply to Blockworks’ request for comment. (Blockworks)
Coinbase CFO Doesn’t Rule Out More Layoffs to Improve Financials
Coinbase Global Inc., which laid off staffers twice in the last year, is open to cutting more if it becomes necessary to improve the company’s financial performance, Chief Financial Officer Alesia Haas said.
Euro-Backed Stablecoin, Euro Coin Set to Trade on Coinbase
Support for Euro Coin (EUROC), a euro-backed stablecoin, will go live on Coinbase in regions where trading is supported, the exchange said on Twitter.
Coinbase Saw Its 2022 Total Trading Volumes and Transaction Revenues Declined 50% and 66% Y/Y Respectively
Coinbase's Q4 net loss was $557 million. Full-year 2022 net loss was $2.6 billion and included $694 million in unrealized non-cash crypto asset.
Coinbase Saw 66% Decline in Transaction Revenue in 2022 but Remained “Resilient”
Coinbase said that it saw its total trading volume for 2022 decline by 50% year-over-year. It also saw its transaction revenue for 2022 fall by 66% by the same metric.
Coinbase Inches Higher Ahead of Earnings As Silvergate Slips After Downgrade
Coinbase climbed higher shortly after the open today, while Silvergate and other crypto-related stocks dipped.
