Coinbase: Stablecoins are part of the future of currency
Coinbase released a blog post stating that stablecoins are part of the future of currency, and they have already arrived. The biggest opposition to using cash in the current financial system for Americans is that obtaining and transferring funds requires too many fees. Stablecoins provide consumers with all the benefits of cash, but without the drawbacks, including being cheaper and faster in circulation. They are an important part of the future of currency and are already helping to update the system. As the importance of stablecoins increases, so does the urgency to regulate them.
Cumberland withdrew 5,000 ETH from Coinbase 1 hour ago, equivalent to approximately US$11.07 million
Scopescan monitoring shows that one hour ago, Cumberland withdrew 5,000 ETH (about $11.07 million) from Coinbase. Currently, Cumberland holds 16,130 ETH (about $35.72 million).
Coinbase International: Will launch MATIC and BCH perpetual contracts
Coinbase International Exchange and Coinbase Advanced will launch perpetual contracts for Polygon (MATIC) and Bitcoin Cash (BCH). The MATIC-PERP and BCH-PERP markets will open on or after 6:00 PM on December 7, 2023.
Coinbase launches online store Coinbase Shop
Odaily Planet Daily News reported that Brian Armstrong, co-founder and CEO of Coinbase, announced on X platform that Coinbase Shop, which is based on Shopify, has officially launched. The online store mainly sells Coinbase peripheral products. Armstrong stated that there are still significant difficulties in using cryptocurrency payments, which is one of the main reasons why Coinbase is trying to launch the online store Coinbase Shop.
Coinbase CEO: Coinbase plans to integrate Solana
Coinbase CEO Brian Armstrong said in an interview that Coinbase plans to integrate Solana and hopes that the transaction settlement speed on its platform can be less than one second and the cost less than one cent. To achieve this, Brian Armstrong said, "Coinbase will integrate the Lightning Network and other Layer-1 networks that are very fast, such as Solana, on Bitcoin." Armstrong added, "We need 99% of transactions to occur on L2 to achieve our performance targets of less than one cent and one second." (Decrypt)
Coinbase CEO: Coinbase plans to integrate Solana
Coinbase CEO stated that Coinbase plans to integrate Solana.
After Binance’s settlement, Coinbase and Bybit are the main beneficiaries
Kaiko research analyst Riyad Carey stated that after Binance reached a $4 billion settlement with US authorities last week, its competitors Coinbase and Bybit became the main beneficiaries. Carey said that Coinbase's stock price had already performed well in November, and the Binance settlement agreement pushed COIN's performance up by more than 75% that month. Carey added that in terms of market share after the settlement agreement was announced, Bybit was the "direct outstanding winner" for Bitcoin, as it has the highest trading volume for non-stablecoins. Binance's market share temporarily dropped by 4% at times, while Bybit rose by 50% and Coinbase rose by 34%.
Coinbase CEO: No plans to launch token for its layer 2 network Base
Coinbase CEO Brian Armstrong stated that Coinbase has no plans to launch tokens for its Layer 2 network, Base.
Coinbase Annual Transparency Report: 13,079 Government Information Disclosure Requests Received in the Past Year
Coinbase released its fifth annual transparency report today. The report states that between October 1, 2022 and September 30, 2023, Coinbase received a total of 13,079 information disclosure requests from government agencies or law enforcement departments around the world. Coinbase stated that government and law enforcement agencies may request companies to disclose customer information for civil, administrative, criminal, and national security purposes in accordance with the legal requirements of each jurisdiction. However, Coinbase may question requests from government and law enforcement agencies, depending on the specific circumstances of each request, and in some cases, Coinbase may also ask government agencies or law enforcement departments to narrow the scope of information requests.
Former Coinbase and a16z executive Mike Lempres joins MoonPay USA LLC board of directors
On December 1st, according to official sources, the encrypted payment financial company MoonPay announced that former Coinbase and a16z executive Mike Lempres has joined the board of directors of MoonPay USA LLC. Mike Lempres previously served on the boards of Bitstamp, Revolut US (as chairman), and Coinbase.
