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BCH $250.29 -3.90%
LINK $11.82 -5.93%
HYPE $83.86 -2.56%
AAVE $124.98 -3.66%
SUI $0.7691 -6.41%
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ZEC $1,240.40 -0.12%

coinbase

Coinbase (NASDAQ: COIN) is one of the largest cryptocurrency exchanges in the world, allowing individuals and institutions to easily participate in the cryptocurrency asset economy, including trading, staking, custody, spending, and fast, free global transfers. Additionally, it provides critical infrastructure for on-chain activities. Coinbase's mission is to increase economic freedom in the world.
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first_img Coinbase CEO stated that regardless of the voting outcome of the Clarity Act, the cryptocurrency industry will benefit

Coinbase CEO Brian Armstrong stated that regardless of the outcome of the U.S. Senate vote on the Clarity Act on September 15, the cryptocurrency industry will gain regulatory clarity. In an interview with CNBC, he mentioned that if the bill passes, the industry will receive legislative support; even if it does not pass, the SEC and CFTC have indicated their readiness to issue rules, and the industry will still gain regulatory clarity around the time of the vote.The Digital Asset Market Clarity Act aims to establish a federal regulatory framework for cryptocurrency exchanges, brokers, and stablecoins by dividing token regulatory authority between the SEC and CFTC. Armstrong noted that the bill has broad bipartisan and industry support, with law enforcement agencies, banks, and cryptocurrency companies all expressing their backing. Key issues previously raised by Coinbase have been resolved. The only outstanding matter is the ethical provisions concerning elected officials holding digital assets; the White House has proposed a plan that includes strong ethical clauses, while Democrats are pushing for further measures, including mandatory asset divestiture, with both sides nearing a resolution.In response to JPMorgan CEO Jamie Dimon's criticism regarding Coinbase's regulatory arbitrage using the bill's stablecoin provisions, Armstrong remarked that critics with large payment businesses are facing "competitive issues" and are "speaking for themselves." He also stated that Goldman Sachs, Bank of New York Mellon, and Fidelity all support the bill.

Coinbase accelerates the promotion of Bitcoin anti-quantum measures: multiple parties discuss future asset migration plans

Coinbase announced that it has collaborated with Stanford University cryptography professor Dan Boneh and Localhost Research to hold a closed-door "Post-Quantum Bitcoin Workshop" at Stanford University, gathering Bitcoin developers, cryptography experts, researchers, institutional custodians, and hardware wallet specialists to discuss the technologies and migration plans for Bitcoin to address future quantum computing threats.The workshop focused on assessing the progress of quantum computing, post-quantum cryptography, and various post-quantum signature schemes applicable to Bitcoin, as well as discussing Ethereum's anti-quantum planning, the practical requirements faced by institutional custody businesses, and how to introduce post-quantum security mechanisms for Bitcoin through new output types. Participants believed that rather than predicting when quantum computing will pose a real threat to existing cryptographic systems, it is more important to establish well-tested response plans in advance.Quantum computing does not currently pose an urgent crisis, but the earlier research and coordination begin, the better we can avoid hasty network upgrades and asset migrations under pressure in the future. However, there is currently no consensus on a single post-quantum solution. Different solutions involve trade-offs in terms of security, transaction data size, hardware performance, key management, and the difficulty of user migration. Participants felt that Bitcoin's anti-quantum measures cannot rely solely on protocol layer upgrades, but must also consider how individual users, institutional custodians, wallets, and hardware devices generate, store, back up, and migrate keys and assets.

first_img Better and Coinbase launched Bitcoin collateral loans, and the staked Bitcoin can be re-collateralized

According to CoinDesk, the Bitcoin mortgage product jointly launched by Better Mortgage and Coinbase has been fully launched last week. Borrowers can pledge Bitcoin at a 250% collateral rate to pay for the down payment on a home. For example, to purchase a $500,000 property, one would need to pledge $250,000 in Bitcoin to support a $100,000 down payment. Since the full launch, the pre-application loan scale has reached $360 million, higher than the previous estimated $260 million from the waiting list users.At closing, borrowers will receive two loans: one is a conventional mortgage secured by the property that meets Fannie Mae standards, and the other is a down payment loan secured by pledged Bitcoin and a subordinate lien on the property. Better disclosed that it may re-pledge the Bitcoin pledged by borrowers, as long as an equivalent amount of assets is retained for return. Borrowers cannot retrieve their crypto assets early and must wait until the conventional mortgage is fully repaid or refinanced to recover them, meaning Bitcoin may be locked for up to 15 to 30 years.Unlike typical crypto loans, a drop in Bitcoin prices will not trigger a margin call or automatic liquidation; liquidation of pledged assets may only occur 60 days after the borrower defaults. Coinbase only acts as a custodian and technology provider and does not participate in credit decisions. Currently, the product only supports Bitcoin collateral; both parties mentioned USDC when announced in March but ultimately chose to launch with BTC first.

first_img A dormant Bitcoin wallet wakes up after 15 years, turning 120 USD into 3 million USD

According to on-chain monitoring data from Galaxy Research, from August 29 to September 4, four long-dormant Bitcoin wallets were activated, transferring a total of 202.84 BTC, worth approximately 15.73 million USD.Among them, the largest wallet held 146.06 BTC (approximately 11.31 million USD), which had not been touched since November 2013, holding for nearly 12.8 years, with an unrealized profit of about 12,902% based on a cost price of approximately 595 USD. A wallet that has been dormant since November 2011, holding 40 BTC, is valued at approximately 3.09 million USD, with an average cost of about 3 USD, resulting in an unrealized profit of up to 2,571,899%, allowing the holder to earn over 3 million USD from an initial investment of about 120 USD over nearly 15 years. Additionally, two other wallets transferred 10 BTC (approximately 777,000 USD) and 6.78 BTC (approximately 551,000 USD), respectively.Galaxy marked the transfer of 6.78 BTC as being received by Coinbase, a signal that typically indicates the holder intends to sell rather than simply transfer assets. Some of the activated wallets were tagged with the sender label "Noah Doe," related to New York State's lawsuit declaring thousands of dormant addresses as unclaimed property. Since a judge suspended the proceedings in June, the relevant wallets have shown multiple movements. This wave of awakenings continues the trend observed since this summer, with six wallets previously transferring approximately 40 million USD within ten days in August.
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