Germany’s financial watchdog approves crypto custody license for Coinbase

The Federal Financial Supervisory Authority has issued a crypto custody business license for Coinbase’s Germany arm. In a Monday announcement, Germany’s Federal Financial Supervisory Authority, also known as BaFin, said it had issued Coinbase the first such license for a crypto exchange related to custodying digital assets in the country. The regulator said due to the lack of precedent, it would be forming an interdisciplinary, cross-divisional and cross-departmental team to handle any issues related to crypto custody. Lawmakers in Germany passed legislation at the end of 2019 which requires that…

Coinbase unveils ‘Solidify’ tool to auto-audit smart contracts and DeFi clones

Coinbase has unveiled a new tool that can automatically audit smart contracts built on Ethereum that use the Solidity programming language. Designed to be used by smart contract auditors, asset issuers, and other exchanges, the firm has plans to make the tool open source later this year In a June 23 post, Coinbase’s principal blockchain security engineer Peter Kacherginsky announced the firm’s new security analysis tool dubbed “Solidify”, which was created to improve on the “time-intensive and error-prone” process of manual smart contract analysis. The engineer noted that the exchange’s…

Crypto IRA integrates Coinbase Custody as trade volumes top $1.5B

Cryptocurrency IRA and 401(k) provider iTrustCapital has integrated Coinbase Custody into its platform, offering retirement planners more robust security for their digital-asset investments.  The integration means iTrustCapital clients will have their assets secured by Coinbase Custody’s cold storage, offering another layer of protection from attacks. Coinbase Custody maintains both SOC1 Type II and SOC2 Type II certifications, which means it undergoes regular financial audits. Assets held with iTrustCapital are also backed by a commercial crime insurance policy valued at $255 million, the company said. The added protection applies immediately to…

Flexa AMP cryptocurrency hits new highs on Coinbase listing — Up 1,700% in 2021

The in-house token of cryptocurrency payments app Flexa, AMP, has hit new all-time highs after being listed on major exchange Coinbase. Data from Cointelegraph Markets Pro and TradingView showed AMP/USD reaching $0.11 per coin for the first time on June 17. AMP nears $0.12 as best-performing altcoin Flexa, which describes itself as the “first ever digital currency payment option for brick-and-mortar retail,” aims to offer a blanket solution for cryptocurrency acceptance and spending. Its previous infrastructure token, Flexacoin (FXC), was converted to AMP late last year as part of an overhaul.…

Shiba Inu and Chiliz jump 33% and 26% on Coinbase Pro listings

The token prices of Shiba Inu (SHIB) and Chiliz (CHZ) jumped 33% and 26% respectively on Wednesday, following the announcement of the pair’s listing on Coinbase Pro. Inbound transfers for Shiba Inu and Chiliz were announced alongside Keep Network (KEEP) by Coinbase Pro on Tuesday, June 15. Trading is set to begin on Thursday, June 17, assuming liquidity conditions are met. The trading pairs will launch in three phases: post-only, limit-only and full trading. Shiba Inu burst onto the scene in late April, seemingly as a bi-product of the attention…

Polkadot price soars 37% after Coinbase Pro DOT listing, first parachain auction

Polkadot’s DOT coin has witnessed massive upside moves recently as traders assess the cryptocurrency’s entry into the United States-based digital assets trading platform Coinbase Pro and the upcoming auctioning of parachain slots atop Polkadot’s testbed version of Kusama on June 15. The DOT/USD exchange rate reached $26.44 on June 14, following a roughly 37% upside move that started on June 13. Nevertheless, entering the Asia-Pacific and European trading hours on June 15, the pair corrected by more than 4.5%, hitting an intraday low of $24.25. Polkadot pulls back after testing…

Pension provider partners with Coinbase to offer 5% exposure to crypto

United States-based retirement plan provider, ForUsAll, is joining forces with Coinbase to allow clients to invest up to 5% of their portfolio assets in cryptocurrencies. The pension provider, which primarily serves small-to-medium-sized businesses, is working to offer exposure to more than 50 cryptocurrencies in a product called Alt 401(k). The firm’s co-founder and chief investment officer, David Ramirez, acknowledged concerns regarding offering crypto products in pension portfolios due to their volatility, but argued that U.S. citizens will be at a “disadvantage” if they are not given the option of accessing…

Coinbase is reportedly looking to set up office in New York

The United States’ largest cryptocurrency exchange, Coinbase, is reportedly setting up its first office in New York. The Nasdaq-listed cryptocurrency exchange has allegedly subleased 30,000 square feet from Steven Cohen’s investment firm Point72 at Related Companies’ 55 Hudson Yards in New York, the New York Post reports Sunday. Citing sources from a real estate firm, the report notes that Coinbase’s upcoming NY office makes up a small chunk of Point72’s total 339,000 square feet at the tower. The report also notes that Hudson Yards area is mostly known for corporate,…

Coinbase says it was not involved in the DOJ’s Bitcoin ransom seizure

Coinbase’s Chief Security Officer has refuted suggestions the U.S. crypto exchange was involved in any seizure of crypto assets related to recent Colonial Pipeline ransomware attack. CSO Philip Martin took to Twitter on June 8 to explain the firm’s involvement, or lack of it, with the Department of Justice warrant for the seizure of Bitcoin. “Coinbase was not the target of the warrant and did not receive the ransom or any part of the ransom at any point. We also have no evidence that the funds went through a Coinbase…

Feast or famine on Dogecoin as Coinbase pump triggers whales’ return

Some of Dogecoin’s (DOGE) observable metrics depict a blockchain in violent flux amid the fallout from the meme coin’s Coinbase Pro listing. The dollar amount sent across the blockchain in a single day exceeded $47 billion on Thursday — a 690% increase on the figure from less than a week before. Dogecoin’s price climbed 40% in a single day shortly after Coinbase announced it would open its doors to Doge deposits on Coinbase Pro on Tuesday, June 1, with a view to commencing trading on June 3. Trading across five…