Search results for coinbase

  • Coinbase Integrates Ethereum Blockchain Explorer Etherscan With Wallet: Why The Move Is Drawing Mixed Reactions

    Crypto exchange Coinbase Global Inc (NASDAQ: COIN) has integrated its wallet app with blockchain explorer Etherscan, making on-chain data more easily accessible for its users. What Happened: Coinbase Wallet announced on Monday that it had integrated with Etherscan — a blockchain explorer and analytics platform for the Ethereum (CRYPTO: ETH) ecosystem.  More access to blockchain data Our integration with @etherscan, the leading blockchain explorer, search, api and analytics platform for Ethereum is now complete! pic.twitter.com/iKmw7D8378 — Coinbase Wallet (@CoinbaseWallet) August 15, 2022 The integration was in aid of bringing more on-chain data to retail traders and users of the Coinbase Wallet, stated the exchange in the announcement. Etherscan is one of the longest-running projects built around the Ethereum community and is often the go-to tool that provides insight into on-chain transactions, whale transfers and wallet activity on the blockchain. Some users see the move as a positive one that would let traders check the number of whales and their corresponding holdings under each individual ERC-20 token. Others, like the chief information security officer at blockchain analytics firm SlowMist are expressing concerns over what it would mean if Etherscan was compromised by bad actors. This.. what would happen if Etherscan was hacked or poisoned?  It's not that it never happened  https://t.co/WFqtjV8JpU — 23pds (@IM_23pds) August 16, 2022 See Also: HOW DOES COINBASE MAKE MONEY? Earlier this year, Coinbase said it would “phase out” its Coinbase Pro exchange and replace it with a new feature called “Advanced Trade” within its existing app. The platform still lets users trade cryptocurrencies like Bitcoin( CRYPTO: BTC), ETH, and Dogecoin (CRYPTO: DOGE) without the added advantages of reduced trading fees that could be availed on the Pro platform. Price Action: Coinbase shares traded 0.62% lower after hours, as per data from Benzinga Pro. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • 1,000 Bitcoin Was Just Transferred From Coinbase To Binance

    What happened: An anonymous Bitcoin (CRYPTO: BTC) whale just transferred $22,986,183 worth of Bitcoin off Coinbase, and the investor then sent these funds to Binance. You can view more details about the transaction here. Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency between exchanges when looking for liquidity. If a whale were to sell all of their Bitcoin on one exchange, there would be a high price impact. That is, the investor would push down the price of Bitcoin on that exchange significantly. Instead, the whale can distribute the funds across exchanges to be able to have sufficient liquidity. Of course, we don't know for sure whether this Bitcoin wallet is transferring the funds to sell, as this is just speculation. Another reason investors transfer Bitcoin across exchanges is for security preferences. The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. However, certain exchanges, like Coinbase, hold investors' funds in hardware wallets for them, adding an extra level of security for your digital assets. Price Action: Bitcoin is down -1% in the past 24 hours. See Also: How To Buy Bitcoin Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • This 2016 Ethereum App Is Quietly Powering Coinbase's NFT Platform - Interview with Amir Bandeali

    Founded in 2016, 0x is one of the first-ever smart contract-based applications launched on Ethereum. The protocol saves users money by automatically routing on-chain trades through the cheapest available exchange. We spoke with Founder Amir Bandeali at the Permissionless Conference in West Palm Beach to learn more about the $70 million Series-B fundraising his team recently completed. Here's what he had to say:  “Our thesis is that basically, every single application that involves blockchain will at some point want to tap into liquidity. I think it'll become one of the main business models in this space.” “We're still pretty aggressively growing as a company. You know, it's a pretty complex technology stack. We're working on a few different core products. 0x API our aggregation API as well as Matcha, our user-facing decentralized exchange aggregator, and just growing the team to continue iterating on these things, for 0x API to be the highest coverage possible liquidity aggregator out there. It's already live on 7 different blockchains.   On Powering Coinbase’s NFT Platform   0x protocol is also fundamental to Coinbase’s new NFT platform, which Bandelai commented on, “So the 0x protocol is a system of smart contracts that underpins everything we do. It's what actually facilitates the trade settlement and makes the trades non-custodial. No one ever is taking control of a user's assets. And at 0x protocol, we want to broadly support all different forms of a decentralized exchange and NFT swaps fall into that as well. So we quite recently added NFT functionality into the protocol itself, and that's what Coinbase is using. So, they're driving all their orders through 0x protocol.” The protocol is now decentralized but maintained by Amir Bandelai and the core team that launched it. The protocol earns revenue from the dApps that plugin 0x’s liquidity for a variety of financial applications. They earn this revenue in their native governance token, ZRX. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Coinbase Says Layer 2 Solutions Could Eat Ethereum's Lunch

    A recent research report from Coinbase Global Inc (NASDAQ: COIN) warned that Layer 2 scaling solutions for Ethereum (CRYPTO: ETH) could potentially end up diverting revenue away from ETH itself. What Happened: Layer 2 networks like Optimism (CRYPTO: OP), Polygon (CRYPTO: MATIC) and Arbitrum may well become the application layers hosting the bulk of economic activity while ETH exists solely to store transaction data, Coinbase analysts wrote in a monthly outlook report. See Also: WHAT ARE LAYER 2 SOLUTIONS IN CRYPTO? As more decentralized applications migrate to L2s, the analysts said that it was feasible to assume that the L2s could eventually divert revenue away from ETH, turning the largest market contract platform into a storage layer of transaction data. “That in turn could reduce staking yields to validators and hurt the ETH price by limiting the amount staked on the network thus increasing the liquid circulating supply,” the analysts wrote. “It could also potentially impact the overall security of the network.” The Coinbase research analysts noted that the revenue impact over the long run would depend on whether “the overall size of the pie” or the level of activity in the ecosystem continues to rise. “Many [L2s] still use ETH to pay for transactions, but we think the trend could be that L2 ecosystems could become competitive rather than complementary to Ethereum’s,” they said. The report highlighted that over the last 12 months, ETH earned $9.9 billion in total revenue compared to an aggregate of $78 million on Arbitrum, Polygon and Optimism. At the moment, the total value locked in L2s is just a small fraction of the amount on Ethereum, but as zkEVM implementation looks increasingly achievable, major traction could be seen in L2 growth, the analysts said. Price Action: At press time, ETH was trading at $1,931, down 2.95% over 24 hours as per data from Benzinga Pro. MATIC was trading at $1, down 0.94% and OP was trading at $1.45, down 8% over the same period. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Coinbase shares shrug off S&P downgrade

    The rating agency's move cited the company's disappointing earnings report earlier this week, The post Coinbase shares shrug off S&P downgrade appeared first on The Block.

  • 2,500 Bitcoin Was Just Transferred From Coinbase To Binance

    What happened: An anonymous Bitcoin (CRYPTO: BTC) whale just transferred $59,733,263 worth of Bitcoin off Coinbase, and the investor then sent these funds to Binance. You can view more details about the transaction here. Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency between exchanges when looking for liquidity. If a whale were to sell all of their Bitcoin on one exchange, there would be a high price impact. That is, the investor would push down the price of Bitcoin on that exchange significantly. Instead, the whale can distribute the funds across exchanges to be able to have sufficient liquidity. Of course, we don't know for sure whether this Bitcoin wallet is transferring the funds to sell, as this is just speculation. Another reason investors transfer Bitcoin across exchanges is for security preferences. The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. However, certain exchanges, like Coinbase, hold investors' funds in hardware wallets for them, adding an extra level of security for your digital assets. Price Action: Bitcoin is down -1% in the past 24 hours. See Also: How To Buy Bitcoin Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Shiba Eternity Released On Apple Store, Coinbase Users On SHIB Buying Spree

    Shiba Eternity suddenly hits the Apple Store Just 10 days after Shiba Inu's 2nd birthday. Continue reading Shiba Eternity Released On Apple Store, Coinbase Users On SHIB Buying Spree at DailyCoin.com.

  • S&P Global Drops Coinbase Debt Rating Over Crypto Market Downturn, Doubts Over Company's Ability To 'Operate Efficiently'

    S&P Global has lowered its credit rating of Coinbase Global Inc (NASDAQ: COIN) citing a “negative” outlook for the cryptocurrency exchange. What Happened: S&P Global lowered its long-term issuer credit rating and unsecured debt ratings on Coinbase to ‘BB’ from ‘BB+’ on Thursday. The ratings agency said it had revised its assessment of the crypto exchange’s financial risk after Coinbase reported weak earnings in the second quarter. See Also: HOW DOES COINBASE MAKE MONEY? “The negative outlook reflects uncertainties about the duration of the crypto market downturn and the company's ability to operate efficiently by managing operating expenses prudently,” stated S&P Global in a note. “It also reflects the potential for further market share deterioration amid a challenging competitive landscape as well as heightened regulatory risk.” S&P Global pointed to the 30% decline in Coinbase’s trading volume in Q2, while overall crypto spot trading volume declined only 3% across all other venues, as a sign that “competitive risk” had increased for the U.S.-based exchange. Noting that rival crypto exchange Binance’s move to introduce zero trading fees for Bitcoin (CRYPTO: BTC) even as the asset’s price slumped, further intensified the risk of fee compression in Coinbase’s retail channel — which accounts for 80% of its total revenues. “Regulatory headwinds have increased for Coinbase with recent disclosure about the SEC's launch of securities fraud charges against a former employee and, more recently, with respect to investigations into its staking programs and the classification of certain listed assets,” wrote S&P Global. See Also: Coinbase Faces SEC Probe Over Token Listings, Staking and Yield Products Price Action: Coinbase shares were trading 0.70% higher after hours, as per data from Benzinga Pro. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • U.S Supreme Court Rejects Coinbase’s Appeal Over Arbitration

    The cryptocurrency exchange requested a stay of proceedings until dispute is resolved. The defendant has requested the court to not

  • Bitcoin Whale Just Transferred $22M BTC From Coinbase To Binance

    What happened: An anonymous Bitcoin (CRYPTO: BTC) whale just transferred $22,986,183 worth of Bitcoin off Coinbase, and the investor then sent these funds to Binance. You can view more details about the transaction here. Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency between exchanges when looking for liquidity. If a whale were to sell all of their Bitcoin on one exchange, there would be a high price impact. That is, the investor would push down the price of Bitcoin on that exchange significantly. Instead, the whale can distribute the funds across exchanges to be able to have sufficient liquidity. Of course, we don't know for sure whether this Bitcoin wallet is transferring the funds to sell, as this is just speculation. Another reason investors transfer Bitcoin across exchanges is for security preferences. The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. However, certain exchanges, like Coinbase, hold investors' funds in hardware wallets for them, adding an extra level of security for your digital assets. Price Action: Bitcoin is up 1% in the past 24 hours. See Also: How To Buy Bitcoin Public Blockchain data sourced from Whale Alerts Twitter. This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Crypto Flipsider News – Market Rally; Ethereum Goerli Merge; Ripple to Buy Celsius, SEC Probes Coinbase; Hotbit Suspends Transactions

    Click here to read our crypto digest. Continue reading Crypto Flipsider News – Market Rally; Ethereum Goerli Merge; Ripple to Buy Celsius, SEC Probes Coinbase; Hotbit Suspends Transactions at DailyCoin.com.