Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market. Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece,...Read More
Decentralized trading platform Synthetix has raised $12 million from venture capital firms Coinbase Ventures, Paradigm and IOSG. The raise looks to be a rare occurrence of VCs investing through the purchase of a platform’s native token directly from its treasury rather than wiring funds to its founders. Synthetix is run by a DAO, or a...Read More
When Elon Musk adds #Bitcoin to his Twitter bio, you know buying bitcoin is in vogue again. The cryptocurrency is pumping, perhaps not-too-coincidentally, as investing app Robinhood faces criticism for censoring stock and crypto trading in response to the Wall Street Bets saga. With Robinhood taking heat, Coinbase is basking in the glow. Coinbase’s popularity...Read More
A man claiming to be a Coinbase client has filed suit against the exchange for its sale of the token XRP. According to the complaint filed in the Northern District Court of California, Thomas C. Sandoval, the plaintiff, alleges Coinbase knowingly sold XRP as an unregistered security and gained commission on these sales. Additionally, the...Read More
Coinbase said it will suspend trading of XRP, the cryptocurrency the U.S. Securities and Exchange Commission sued last week claiming it is really a security. Coinbase first listed XRP on its retail-facing platforms in February 2019. Starting now, XRP trading “will move into limit only,” Coinbase wrote. It will be fully suspended on Tuesday, Jan....Read More
Coinbase announced Saturday it plans to support an upcoming airdrop that has been seen as a factor in boosting XRP’s price in recent weeks. The San Francisco-based exchange said in a blog post that Coinbase customers with XRP balances as of midnight UTC on Dec. 12, 2020 will receive Spark tokens from Coinbase at a...Read More
Upstart crypto exchange LVL wants to take on U.S. giants Coinbase and Gemini by removing trading fees. Announced today, LVL (pronounced “level,” as in playing field) is making its entire service free to use. LVL, which is backed by Morgan Creek Digital’s Anthony Pompliano and Bitcoin advocates Jimmy Song and Willy Woo, previously had no...Read More
The New York Times has published a critique of Coinbase’s internal diversity policies, with several former employees complaining of “racist or discriminatory” treatment. The report by journalist Nathaniel Popper, published Friday, is based on commentary from 23 current and former Coinbase employees. It paints the picture of a company that “has long struggled with its...Read More
Brian Armstrong is worried the Trump Administration is about to send the cryptocurrency industry a parting gift. The Coinbase CEO took to Twitter Wednesday night to blast the U.S. Treasury Department’s rumored plans to attempt to track owners of self-hosted cryptocurrency wallets with an onerous set of data-collection requirements. If the whispers are to be...Read More
Cryptocurrency exchange Coinbase has decided to discontinue sending customers 1099-Ks, the U.S. tax form which led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains. The exchange will instead use the 1099-MISC form, at least for customers who earn interest on lending and similar products, it said in a Tuesday blog...Read More
