Coinbase introduces crypto to Fortune 500 while FTX CEO featured in TIME 100

In an industry milestone, cryptocurrency exchange Coinbase has become the first corporation within the crypto and blockchain space to be featured on the prominent Fortune 500 list. A 68-year-old annual tradition, the Fortune 500 list is synonymous with ranking the leading corporations in the United States by total revenue, as well as other quantifiable metrics such as percentage profit margins, assets and the number of employees, among others. Retail giant Walmart captured the top spot for the tenth consecutive year with $572,754 million in revenue and a growth of 2.4%.…

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Coinbase offers ‘thousands of tokens’ in expanded swap service

America’s largest crypto exchange Coinbase has added the BNB Chain (formerly Binance Smart Chain) and Avalanche to the Coinbase Wallet’s list of supported networks where users can swap and store cryptocurrencies. The May 24 blog post from the exchange boasts that the added functionality will provide access to “thousands of tokens” which constitute a “greater variety than most traditional centralized exchanges can offer.” One Wallet. Even more networks. Thousands of tokens. Now supporting token swaps on @avalancheavax and @BNBCHAIN on Coinbase Wallet. Learn more -> https://t.co/ZdEg1T8s53 pic.twitter.com/prWhSlPYl8 — Coinbase Wallet…

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Coinbase launches new crypto think tank to help shape policies

Cryptocurrency exchange Coinbase has created a “crypto native think tank” in an attempt to help shape the global conversation around policies for digital assets. The newly formed Coinbase Institute will also publish research on crypto and Web3. Coinbase tapped its Director of Policy Hermine Wong to head the institute. She previously served in the Division of Economic and Risk Analysis at the United States Securities and Exchange Commission (SEC) and before that worked at the Department of State. The related Coinbase Institute Advisory Board has also been formed and will…

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Coinbase unveils Web3 mobile Dapp and DeFi wallet and browser

America’s largest crypto exchange Coinbase has rolled out Web3 app functionality including a hot wallet and browser for a limited set of its mobile app users. The app will allow select users to access decentralized apps (Dapps) on the Ethereum (ETH) network such as Uniswap and OpenSea. Today, we’re starting to make it dramatically easier for users to access & engage in web3 right from the @coinbase app! #NoMoreKeys #JustGettingStarted #KeepBuilding https://t.co/7K3lZ6kKAs — RishiDean.eth (@rishidean) May 16, 2022 The May 17 announcement by Coinbase’s Director of Product Management Rishi Dean…

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Coinbase junk bonds tank amid market rout and creditors’ fears

The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on May 10 to sit at $63 and $62.31 at the time of writing. Overall they are down 20% and 19% apiece since the start of this month. 10y coinbase bonds trading at 63 cents on the dollar pic.twitter.com/fqmKmiXk5E —…

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Coinbase CEO says funds are safe amid bankruptcy protection fears

Following the Coinbase report where the company declared its losses, a disclosure that suggests that users are not protected in the case of bankruptcy has been gaining traction on social media. However, Coinbase CEO Brian Armstrong explained that funds are safe “as they’ve always been.”  In the company’s first-quarter report for 2022, Coinbase reported its first loss amounting to $430 million. Apart from this, the firm also reported the number of users transacting in the exchange has also dropped from 11.4 million to 9.2 million. After the loss was posted,…

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Backed by Coinbase and Alameda, African exchange MARA eyes continental prospects

East Africa is set to welcome a new cryptocurrency exchange backed by a formidable list of industry heavyweights looking to tap into a continent full of potential users. Coinbase Ventures, Alameda Research, Huobi Ventures and other prominent venture capital firms and angel investors have contributed $23 million to launch MARA. The exchange will initially operate in Kenya and Nigeria, offering new users a basic exchange platform to acquire, trade and withdraw cryptocurrencies. The platform will offer a professional exchange featuring extensive trading options and technical analysis tools for more experienced…

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Indian central bank’s ‘informal pressure’ disrupted payments: Coinbase CEO

Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank. During Coinbase’s 2022 Quarterly Earnings call, Armstrong spoke about the company’s global expansion plans while acknowledging Coinbase’s role in starting the conversation with regulators related to crypto adoption. When asked about the impact of the recent disruption related to offering payment services in…

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Coinbase CEO has ‘never been more bullish’ even after $430M Q1 loss

Cryptocurrency exchange Coinbase has disclosed its first net loss as a public company of $430 million in Q1, but CEO Brian Armstrong said on an earnings call that he’s “never been more bullish on where we are as a company.” In its first quarter 2022 report Coinbase disclosed that revenue had dropped 27% to $1.17 billion, down from $1.6 billion in the first quarter of 2021 and a long way off its Q4 2021 revenue of $2.5 billion. Monthly transacting users also dropped by over 19% to 9.2 million, from…

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Tumbleweeds blow through Coinbase NFT on its first day: Just $75K in volume

Coinbase, one of the largest crypto exchanges by volume, opened its beta non-fungible token (NFT) marketplace to the public on May 4 with on-chain data showing a maximum of 150 total transactions on the day and $75,000 in USD volume. The transactions captured by Dune Analytics show the total amount which took place through the 0x Protocol, the infrastructure behind Coinbase’s marketplace. Whilst not all transactions are guaranteed to be from Coinbase, since 0x announced its support for NFTs in January it has yet to announce any other partners apart…

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