Infrastructure bill passes, Coinbase posts $1.6 billion in Q2 profit, $600 million stolen in DeFi hack: Hodler’s Digest, Aug.8-14

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Infrastructure bill passes US Senate — without clarification on crypto On Tuesday, the controversial infrastructure bill passed in the U.S. senate In a 69-30 vote. The bipartisan bill proposes roughly $1 trillion of funding into transportation and electricity infrastructure projects. The bill also puts…

Reports suggest that a mainstream tech giant holds shares of Coinbase stock

Over the course of 2020 and 2021, the cryptocurrency industry has attracted a notable amount of mainstream attention. In line with the growing awareness of the crypto industry, Intel, a tech company with history dating back to the 1960s, revealed an investment in crypto exchange Coinbase (COIN).  Although a number of specifics remain unknown, such as when the purchase occurred, required Q2 financial disclosure from Intel showed the outfit carrying 3,014 COIN shares at Q2’s conclusion, according to a Friday article from Barron’s. “Intel was obligated to disclose the stake…

Coinbase beats earnings estimates as analysts say regulation will ‘stifle’ innovation

Coinbase Global (NASDAQ: COIN) rebounded during the early trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter. The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for the COIN rose to as high as $294 before pulling back to its current price at $279.72. Coinbase stock daily chart. Source: TradingView Strong Q2 earnings for Coinbase  Coinbase Global reported better-than-expected earnings in the second quarter of 2021and posted net revenue of $2.3…

Coinbase removes ‘backed by US dollars’ claim for USDC stablecoin

USD Coin (USDC), Circle’s dollar-pegged stablecoin, seemingly lost one of its biggest competitive advantages over its rival, Tether (USDT).  Major crypto exchange Coinbase made an important change on the USD Coin page on its website following an audit which revealed that not all of USDC’s reserves were held in cash. This rain contrary to the previous statement that “each USDC is backed by one U.S. dollar held in a bank account.” Coinbase visitors are now greeted with a statement that says USDC is “backed by fully reserved assets” when they…

Deutsche Telekom to store Celo tokens on Coinbase Custody

Coinbase Custody, the crypto custodial solution offered by United States exchange giant Coinbase, has been chosen by Deutsche Telekom to store its Celo tokens. According to a release issued on Monday, the telecoms giant identified the robust security protocols offered by Coinbase Custody as a major reason for choosing the service. Deutsche Telekom invested in Celo back in April, becoming the first telecom member of the Celo Alliance for Prosperity. Apart from making a “significant purchase” of Celo tokens, Deutsche Telekom’s T-Systems MMS subsidiary also became a validator on the…

Coinbase users can now buy crypto with Apple Pay

Crypto exchange Coinbase announced on Thursday that users can now use Apple Pay to purchase crypto assets on its platform, with Google Pay integration to follow. “Today we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7,” said a Coinbase blog post on Thursday. “If you already have a Visa or Mastercard debit card linked in your Apple Wallet, Apple Pay will automatically appear as a payment method when you’re…

Coinbase CEO Brian Armstrong says proposed crypto tax rule makes no sense

Coinbase CEO Brian Armstrong is the latest crypto figure to come out against the wording of the proposed changes to cryptocurrency taxation in the United States. Tweeting on Wednesday, Armstrong stated that the provisions included in the crypto taxation proposal could have a “profound negative impact” on the U.S. crypto space and could force digital innovation to move overseas. As previously reported by Cointelegraph, amendments to crypto taxation rules were a last-minute addition to the $1-trillion infrastructure deal currently before the United States Senate. The Coinbase CEO, like many other…

Coinbase acquires crypto exchange data aggregator Zabo

Nasdaq-listed cryptocurrency exchange Coinbase continues buying spree by acquiring the cryptocurrency aggregator service Zabo. According to a Wednesday announcement, Coinbase has started the process of acquiring Zabo, a Dallas-based cryptocurrency startup providing data integration services with major crypto exchanges and wallets, including Coinbase’s rival Kraken. The size of the acquisition deal wasn’t disclosed. Founded in 2018, Zabo is building technology to connect cryptocurrency accounts from various exchanges and wallets to unify their crypto holdings in pre-formatted, standardized data via an application programming interface (API). Specifically, the service allows users to…

Pantera, Coinbase Ventures and Sony back NFT-focused MakersPlace in $30M Series A

MakersPlace, a nonfungible token market dedicated to digital art, has secured $30 million in Series A financing, highlighting once again that venture funds are keen to back promising NFT plays. The funding round will be used by MakersPlace to scale business operations and acquire additional talent as it continues to attract new users and artists to its platform. The investment was co-led by Bessemer Venture Partners and Pantera Capital, with additional participation from Coinbase Ventures, Sony Music Entertainment, Uncork Capital, Dragon Digital Assets and 9Yards Capital. Several notable angel investors…

Coinbase Ventures backs Ethereum-based streaming network

This year has been foundational for the success of projects running on the Ethereum blockchain. Sharing the limelight is Livepeer, an Ethereum-based video streaming network that announced raising $20 million in a Series B funding.  Led by Digital Currency Group, the funding for Livepeer saw participation from large venture capitalists, including Coinbase Ventures, Coinfund, Northzone, 6th Man Ventures and Animal Ventures. Based on the announcement, Livepeer’s latest funding will be used to build an in-house protocol to experiment with livestream use cases such as scene classification, object recognition, song-title detection…