Coinbase will remove certain stablecoins from its platform in the European Economic Area (EEA) by the end of the year. The company made the announcement today (Friday), citing upcoming regulatory changes in the region. Stablecoins are digital assets designed to maintain a stable value by being tied to a fiat currency or other asset. These…
Bitcoin and cryptocurrency stocks retreated on the final trading day of September, following a rally the previous week. Despite the pullback, the crypto market remains on track to post a positive month, with Bitcoin leading the way. This comes as investors brace for economic uncertainty, including potential strikes across key US ports and overbought conditions…
According to the latest research by Coinbase, the relationship between cryptocurrencies and stock markets has become remarkable. This interplay is about 50% as of September 2024, mostly due to global monetary easing initiatives carried out by major countries such the United States and China. This study has important ramifications especially for investors trying to negotiate…
A cryptocurrency trader has made headlines by securing a profit of $131.72 million through a strategic investment in Ether (ETH). This notable trade was made during the 2022 bear market, after which the individual held onto the assets through volatile market conditions. The Investors Strategy Blockchain analytics firm Lookonchain has identified an Ether address that…
Bitcoin reached an intraday peak of $63,227 on Thursday, following the U.S. Federal Reserve’s decision to lower the benchmark interest rate by 50 basis points the previous day. The entire cryptocurrency market has gained over 5%, and in the past 24 hours, global trading volume jumped by 26.92%. Crypto Market Surges 5%, Stocks Rise, Gold…
US crypto giant Coinbase has successfully gone live with the launch of its wrapped Bitcoin token at a $100 million market cap. The firm’s Coinbase Wrapped BTC (cbBTC) is a Bitcoin (BTC)-backed, Ethereum (ETH)-based token that aims to help users streamline their decentralized finance (DeFi) experience. Data from CoinGecko shows that cbBTC started trading on…
Key Takeaways Coinbase’s cbBTC enables millions of customers to access DeFi apps using their Bitcoin holdings. cbBTC is backed 1:1 by Bitcoin in Coinbase custody, fostering trust and liquidity in the DeFi ecosystem. Share this article Coinbase has launched a new Wrapped Bitcoin dubbed Coinbase Wrapped BTC (cbBTC), an ERC20 token backed 1:1 by Bitcoin…
Donald Trump’s new ‘crypto’ project appears to be based on code that was hacked for nearly $2 million this summer, while Trump family members’ X/Twitter accounts were hacked in the hopes of draining Trump fans’ digital wallets. On September 3, CoinDesk reported on the white paper underpinning the Trump family’s decentralized finance (DeFi) project, World Liberty Financial (WLF). The…
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In a September 1 X post, Kannon Shanmugam, a lawyer representing Joseph Van Loon and several others in a lawsuit against the U.S. Treasury hinted that he would be presenting arguments in the Fifth Circuit for the case. In a show of support for the legal challenge, Coinbase’s Chief Legal Officer, Paul Grewal, responded to…