Cryptocurrency News TheBitTimes.com

Coinbase recently considered buying FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies. In the crypto trading space, derivatives have grown in significance, outpacing the popularity of spot trading. This trend is demonstrated by Coinbase’s recent interest in acquiring FTX Europe on Sept. 22, further underlining the expanding role of derivatives in global crypto trading strategies. Derivatives, which are intricate financial instruments taking their value from underlying assets like Bitcoin and Ether, have become the powerhouse in the crypto trade. Data from Kaiko Research highlights that in the second quarter of 2023, derivatives volume was a staggering six times more than spot volume. While spot trading centers on an asset’s current price, derivatives have been capturing the limelight. #Coinbase is considering the acquisition of #FTX Europe to expand its #Crypto derivatives business.#CryptoCom is also interested in acqui...

Also Read: Bitcoin, Ethereum To Rise Amid Positive US Fed & Inflation Data or Fall As Market Makers Exit Interestingly, the SEC Chair spoke about the need to protect investors, saying the Crypto Market s should not be allowed to harm them. In his speech, Gensler mentioned a 2018 conversation by Binance ’s then Chief Compliance Officer Samuel Lim with a colleague about how the crypto exchange is operating as an unlicensed securities exchange in the the United States . The same was included in the SEC’s recent complaint against Binance , which alleged it of lying to regulators. Gary Gensler Warns Crypto Market, Again Gensler reiterated in his opening remarks that most cryptocurrencies qualify as securities by the virtue of meeting the investment contract test. However, the SEC Chair made it a point to warn that lack of compliance could lead to more and more anti-crypto enforcement actions. He said, “not liking the message is not the same thing as not receiving i...

PancakeSwap, a decentralized exchange (DEX), is launching on Base, an Ethereum(ETH) layer 2 scaling network incubated by Coinbase, according to an update on Aug. 30. Initially, this integration will offer PancakeSwap’s swapping and liquidity provision functions. Following that, an upcoming release will introduce the farming feature, permitting users to stake liquidity provider (LP) tokens in exchange for PancakeSwap’s native CAKE tokens. Importantly, users will retain their positions in the original LP tokens. Base is now PancakeSwap’s eighth platform, highlighting the DEX’s multi-chain strategy. While initially established on BNB Chain, the DEX has deployed on several blockchains, including Ethereum, Aptos (APT), Polygon (MATIC) zkEVM, and others. Ready for a game-changer DEX on Base? Everyone’s favorite DEX is now on @BuildOnBase, bringing ultra-low fees, user-friendly Features and setting the stage for DeFi mass adoption Start your Base journey with us ...

Also Read: Robinhood Wallet Now Supports Bitcoin, Dogecoin; Ethereum Swaps Enabled advertisement Armstrong also talked about an upcoming event organized by Coinbase later this year in Malibu, designed to ignite the passion of builders within the crypto ecosystem in his Tweet. The post is a homing light for builders to create new start-up ideas and inspires hungry entrepreneurs looking to leave a mark in the crypto industry. Flatcoin Armstrong starts his ideas with Flatcoin, a groundbreaking digital currency designed to address the volatility and inherent risks of fiat-backed stablecoins. He recognizes the limitations of current stablecoins, which are pegged to traditional currencies and vulnerable to inflation and abrupt price shifts. Flatcoin proposes a decentralized solution, pegging its value to the Consumer Price Index (CPI), a basket of essential goods. Flatcoin holds the potential to mitigate inflation risks and offer a more reliable medium of exchange. A...

Also Read: Elon Musk Hails Vitalik Buterin’s Insights on “Community Notes”\ advertisement Earlier, the US SEC was taken to Court by Coinbase to address the issue of whether it was willing to give clarity on the rulemaking for the industry. With the latest CFTC license approval to offer regulated crypto derivatives, the onus is now on the agency to provide the much needed relief surrounding the regulatory fear, uncertainty and doubt (FUD). In this context, Armstrong stated that the market participants are willing to register if there is actually a clear path to do so. Coinbase CEO: Major Moment The CEO said the CFTC approval marks a huge milestone for the Crypto Market in terms of clarity. Meanwhile, the general market perception is that in the next 12 months, the US SEC could finally open doors for institutional Bitcoin exposure via spot ETFs. “Major moment for crypto regulatory clarity in the U.S. This has been a multi-year pr...

Coinbase CEO said that SEC believed that every cryptocurrency apart from Bitcoin qualifies as a ‘security’. It was clear that the federal securities regulator was trying to assert authority over the broader section of the market. advertisement In its lawsuit, the US SEC identified 13 most lightly traded digital assets on Coinbase , as securities. The regulator further asserted that offering them further to customers would put the exchange under the purview of the SEC. Armstrong said: “They came back to us, and they said… we believe every asset other than Bitcoin is a security. And, we said, well how are you coming to the conclusion, because that’s not our interpretation of the law. And they said, we are not going to explain it to you, you need to delist every other asset other than Bitcoin”. Armstrong added that had Coinbase succumbed to the SEC’s demands, it could have set a wrong precedent leaving a large ma...

Cryptocurrency exchange Coinbase has joined forces with Bitkey, a self-custody bitcoin wallet app from Block, to facilitate bitcoin purchases while guaranteeing control over private keys. Coinbase announced its collaboration with Bitkey, a self-custody bitcoin wallet application launched by Jack Dorsey’s Block. The partnership is aimed at enabling customers to purchase bitcoin conveniently while also retaining authority over their private keys. Coinbase is thrilled to have partnered with Bitkey, the self-custody bitcoin wallet made by Block, Inc. to grow self-custody usage. Customers can soon easily transfer new & existing bitcoin with Coinbase to their Bitkey self-custody wallet. Learn More https://t.co/L4gLTJbDlb — Coinbase ️ (@coinbase) June 15, 2023 The deal will permit Bitkey users to carry out purchase, sale, and transfer of bitcoin through Coinbase Pay on their mobile app or hardware wallet. While the platform is presently undergoing beta testing, a pub...

Coinbase has been under the radar for quite a lot of things. While the crypto exchange concluded its third round of layoffs, the rest of the community expected to see a plummet in the stock price of COIN. On the contrary, it was on a rise. Cathie Wood and her investment management firm Ark Invest has been making headlines throughout the week. The firm was seen consistently pouring funds into Coinbase. Just yesterday, ARK pocketed 33,756 Coinbase shares . This purchase was worth $1.49 million. Earlier today, Wood’s platform shelled out another $3.28 million on 74,792 shares of COIN. It should be noted that the value of the shares is based on COIN’s closing price of $43.79 on Wednesday. At press time, COIN was priced at $44.95 with a 2.65 percent daily rise. Source This surge was much needed for Coinbase after its shares dipped to a low of $31.59 on January 6. Ark was making big bucks as all its investments were noting a prominent increase. Along with C...