Coinbase expands to Australia with focus on institutions in ‘months to come’

United States-based cryptocurrency exchange Coinbase will expand its services in Australia, launching a local entity and an updated suite of services for retail crypto traders, hinting that institutional products are soon to follow. Speaking to Cointelegraph, Nana Murugesan, Coinbase’s VP of international and business development, said building during bear markets has “paid off big time during the bull run” and he’s confident in what he sees in the local market. The “baseline signals” Murugesan explains such as the local awareness of crypto and people who view it as the future…

Read More

Coinbase CEO announces documentary on cryptocurrency and exchange

Coinbase co-founder and CEO Brian Armstrong announced in a series of tweets on Oct 4 that a crypto centric documentary capturing his journey of building a tech start-up from the ground up will be available this Friday on Amazon Prime, iTunes, Youtube, and other streaming platforms. The documentary — “Coin: A Founder’s Story” — intends to pull back the curtain and show people what it’s really like to build a tech company from the ground up and encourage others who want to do the same. According to the CEO, documentary…

Read More

Blockchain firm sues Coinbase for $350M alleging patent infringement

Crypto exchange Coinbase has found itself in legal hot water after being accused by blockchain-based software firm Veritaseum Capital of infringing on a patent relating to its blockchain technology — and is now seeking $350 million in damages.  According to a lawsuit filed on Thursday by U.S. law firm Brundidge & Stanger in the U.S. District Court in Delaware, Veritaseum alleges that Coinbase infringed on its cryptocurrency payment transfer technology patent, known as the “566 Patent.” Veritaseum said the patent revolves around “novel devices, systems and methods” which enable parties…

Read More

Coinbase counters WSJ claim its Risk Solutions group engaged in $100M proprietary trade

The Wall Street Journal and Coinbase are having differences over definitions. The newspaper published an alleged account of the digital asset exchange’s trading activities earlier this year that it claims amount to proprietary trading. Coinbase responded in a blogpost that it had done no such thing. Relying on information supplied by “people at the company,” the WSJ wrote on Sept. 22 that Coinbase made a $100-million transaction that was viewed inside the company as a test trade by the company’s Risk Solutions group, which had been formed for the purpose…

Read More

Coinbase enters the Netherlands with central bank approval

The United States-based cryptocurrency exchange Coinbase continues its aggressive expansion in Europe, with the latest regulatory approval coming from the land of tulips. Coinbase officially announced on Thursday that it had received registration from De Nederlandsche Bank (DNB), the central bank of the Netherlands. The regulatory approval allows Coinbase to offer its retail and institutional crypto products in the Netherlands. According to the official DNB records, Coinbase is one of the major international exchanges approved by the Dutch central bank to operate cryptocurrency services alongside smaller local crypto firms. Coinbase…

Read More

Coinbase Cloud debuts Web3 developer platform

Blockchain infrastructure platform Coinbase Cloud has officially rolled out its Web3 developer platform, allowing users to build new decentralized applications free of charge.  The new developer platform, dubbed Node, allows users to create and monitor Web3 applications while accessing the Ethereum blockchain and indexers, the company disclosed Wednesday. While Node offers a tiered subscription model, the free plan includes access to advanced APIs that allow for the creation of decentralized applications and nonfungible token (NFT) applications. Coinbase Cloud claims that Node enables faster creation of Web3 applications while reducing both…

Read More

Coinbase to hand out ENS usernames to simplify wallet transactions

As simplified wallet addresses become more popular within the blockchain space, crypto exchange Coinbase integrated with Ethereum Name Service (ENS) to give their customers usernames to replace their traditional Coinbase crypto wallet addresses.  In a post, the exchange announced that it will be handing out free “name.cb.id” usernames. Through Coinbase Wallet’s browser extension, people can claim their new address and use it for their transactions. With this, users can send and receive crypto tokens using the simplified name instead of the usual 42-word alphanumerical address. The exchange also said in…

Read More

Coinbase is fighting back as the SEC closes in on Tornado Cash

On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation to increase cryptocurrency regulations. But these two stories are not mutually exclusive. The sequence of events proves that governments are purely reactive rather than proactive when it comes to decentralized finance (DeFi). Tornado Cash was…

Read More

Coinbase to educate users on policies held by local politicians with new app integration

On Sept 14, Coinbase Co-Founder and CEO Brian Armstrong announced the company’s plans to begin integrating crypto policy efforts into its app. According to him, this will help the company’s 103 million verified users know where their local political leaders and representatives stand when it comes to cryptocurrency.  1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live. pic.twitter.com/3GqWZIioZQ — Brian Armstrong (@brian_armstrong) September 14,…

Read More

Brother of former Coinbase employee pleads guilty to charges related to insider trading: Report

Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges. According to a Monday report from Reuters, Wahi admitted to authorities during a virtual hearing that he used confidential information obtained from Coinbase to make profits from trading crypto. Wahi’s brother Ishan worked as a product manager at Coinbase, during which time he allegedly shared information regarding the launch dates of tokens with his brother and…

Read More