Coinbase has just announced that it would list a new asset on Coinbase Pro, the institutional version of its services. Now, DASH tokens will be listed on the platform. Deposits are already being accepted at the moment and trading opens up at 16:00 UTC.
This is part of a larger initiative. Last month, Coinbase promised to review eight new currencies. DASH happened to be the first of them to be approved for the professional trading platform.
DASH is a proof of work crypto focused on payments. It has a wide network of merchants that accept it as payments all over the world. At the moment, the token has a market cap of $800 million USD and it is the 16th largest coin in the market.
According to the CEO of the Dash Core Group, Ryan Taylor, the listing was important, as Coinbase is one of the largest exchanges in the most powerful economy of the world. He also affirmed that the company was under scrutiny recently because of its CoinJoin transactions, which can be used to have more privacy on transactions, but that the listing proves the quality of the asset.
The CEO affirmed that Coinbase understands this and that Dash is far from the only coin to have privacy features. CoinJoin is basically a technique that mixes up transactions. Unlike other privacy protocols, it does not make the transactions completely anonymous, however.
Taylor affirmed that it was important that both clients and regulators understood the difference between complete privacy and privacy features such as CoinJoin. This, he believes, will help DASH to continue with these features without problems.
Author: Hank Klinger
Coinbase a cryptocurrency exchange based in the US at San Fransisco has considered launching an introductory exchange token. The head of institutional sales at Coinbase in Asia announced this news in the month of September 11. Kayvon Pirestani said that this is a very interesting investment to be introduced by Coinbase. He was speaking on a panel at Invest: Asia in a conference held on Wednesday. He added that even though that was not an official announcement, Coinbase is looking forward to venturing not only in IEO but also in Security offering token.
IEOs came up as an alternative version of offering token at the crypto exchange acting as the promoter. This is according to what was previously reported by Cointelegraph. The exchange mainly operates sales as well as vetting the projects plus their investors.
The IEO generally involves issuing of proprietary exchange tokens that are used for token sales among other purposes. According to Kayvon Pirestani, the official announcement of the initial exchange offering will be done in the following few months.
A Japanese crypto exchange was also contemplating launching an IEO platform to help companies raise funds through utility last month.
IEO is already receiving support from major exchanges including OKcoin, Binance, Bitfinex, and Kucoin. Just like ICO (initial coin offering), IEO is another platform that aims to serve as a cryptocurrency tool for cryptocurrency exchange. The exchange is required to handle anti-money laundering (AML) and know your customer (KYC) on behalf of the startups.
According to the announcement made on July 2018, Coinbase has been approved to acquire security firms that have broker-dealer licenses. These are companies such as Digital Wealth, Venovate Marketplace and Keystone Capital Corp. Pirestani confirmed that Coinbase has already acquired broker-dealer license but are still digesting on the acquisition of the licenses.
Pirestani also said that he had noted many are talking about the security tokens but very few are trading. For that reason, Coinbase will wait for a rise in market demand before they kick-off. IEOs led by Binance are becoming popular in 2019 and beyond.
Author: Daniel W
Coinbase has introduced a new initiative dubbed USDC Bootstrap Fund and just as the name suggests, the firm intends to boost developers with a fund in terms of USDC tokens.
In a blog post, the crypto exchange said that the new fund will be used to enhance developments of decentralized finance (DeFi) protocols. The new initiative ‘USDC Bootstrap’ will only invest in DeFi based projects using its stablecoin USDC.
DeFi is a relatively fresh concept in the blockchain sphere which can be described as the conventional financial products that you could get from a financial institution like lending or derivatives that have been developed on top of a blockchain. In other words, DeFi protocols consist of smart contracts that are governed by codes and the protocol on which they’re built on.
CoinDesk reports that after several deliberations with DeFi platform developers, the exchange says it realized that liquidity or availability of funds to borrow was one of the urgent needs for DeFi based initiatives. The exchange hopes that through grants, it will boost the development of the DeFi ecosystem.
To kickstart the initiative, Coinbase announced that it was investing 1 million USDC each in Compound as well as dYdX. However, unlike the Coinbase Ventures where investments are made in startups for an equity stake, the Bootstrap fund is designed to add to a protocol’s lending pool where interest will be returned after counterparties borrow from it.
Zhuoxun Yin, dYdX operations head, the most challenging aspect in the development of a new DeFi protocol is attracting borrowing demand. however, the addition of USDC to the lending pools will help to lower the interest rates and embolden clients to borrow more USDC.
Head of Bootstrap Fund Nemil Dalal explained that boosting lending protocols will help in the growth and development of DeFi, which is an area of much interest for Coinbase. In the recent past, Coinbase venture also invested in different DeFi protocols such as Dharma and BlockFi. Dalal explained that Coinbase was interested in enhancing decentralized finance within the banking industry.
Author: Joseph Kibe
Coinbase has recently hired another new executive. This time, the person hired was Dan Yoo, who will act as the new vice president of business in the company. He is set to replace Emilie Choi, who will continue in the company, but in another area now.
Yoo worked as Chief Operating Officer (COO) at NerdWallet before now and at LinkedIn before that, so he has a pretty big resume. Now, he will be in charge of overseeing business operations, corporate development and the data team of the company.
While he worked for LinkedIn, Yoo helped to found a number of startups. One of them was RealiaQuote, which was one of the first companies ever to offer life insurance brokerage services online.
According to him, Coinbase is a company that is driven by data, so a big part of his job will be to ensure that everybody gets the right data to make the right decisions. He also told the media that he has been interested in the crypto industry as far as 2013 and that he had a Coinbase account before he decided to join the company’s team.
Now, Yoo is focused on helping his new team. He will tie together the operations at Coinbase, which is something that he already did for some other companies before now. Yoo affirmed that he hopes to use his experience to scale the team and get them to work in a more efficient manner, therefore using the resources of the company better.
Author: Hank Klinger
All Coinbase Wallet users will now be able to use WalletLink to access any decentralized apps on their browsers via their desktop computers. According to the Coinbase Blog, the program will act as a bridge between the desktop and the user’s wallet.
To start using the new tool, you simply need to scan the WalletLink QR code with your smartphone. This way, it will become considerably easier to keep your funds safe and to use decentralized apps whenever you want.
The decision was taken because several users were already using the web to explore the internet but they were lacking the ability to use dapps on desktop as well. Coinbase Wallet offers a secure way to hold tokens, but Coinbase wanted to deliver more and this is the result of this goal.
Before now, people could only use the app on their mobile devices, but they will be able to use it on their desktop computers now without losing any security.
Several dapps are already tested and fully compatible with the program. Some of them are Compound, Maker, IDEX, Uniswap and dYdX.
The wallet will be fully open source starting today and developers will be able to integrate the current technology with their own products.
In order to use this product, you need to have the updated version of the software, so make sure that your wallet is at least in version 19.1 before trying. So far, the product was tested with the most popular browsers, which included Mozilla Firefox, Google Chrome, Brave, Opera and Microsoft Edge.
Author: Gabriel Machado
Coinbase has recently reported that the company found a vulnerability in its system that affected the passwords of some users. According to the company, some passwords were stored in a plain text file on the company’s servers.
The information was not accessed by any outside source at any time, but around 3,500 customers had their passwords stored in a less than secure way up until recently. The glitch may have affected only 0.1% of the clients but was relevant enough to be disclosed.
How has this happened, in the first place? According to the company, due to a very specific error in the procedure. The registration form would simply not be loaded correctly and the attempt to create the account would fail. However, the log of the failure would be sent to the company.
This meant that the name, information, and password of the person would be still in an unprotected place after the person succeeded in creating the account. Over 90% of the time, the customers retried and used the same password again, which caused the vulnerability.
After discovering this possible vulnerability, Coinbase looked at the other files present on the company’s database to see if another one could be problematic. Fortunately, no others were found at the time of this report.
According to a recent post, the company completely fixed the problem and excluded the file with sensitive information. All accounts that may have possibly be affected also were prompted to create new passwords in order to protect their assets.
Author: Gabriel Machado
2019 is certainly a huge year for cryptos. Coinbase, the largest exchange of the U. S., is reaping the profits from that. The CEO of the company, Brian Armstrong, has recently tweeted about how institutional investors are entering the crypto market right now.
According to him, there is an obvious trend, which is that institutions are becoming a part of the crypto world. He affirmed that around a year ago, people were always asking whether we would see institutions really get into Bitcoin and crypto investing. According to him, Coinbase has the answer now.
The company is currently seeing institutional investors depositing from $200 to $400 million USD in assets on the company each week.
Coinbase Is The Largest Crypto Custodian of the World Now
If the crypto markets are changing, you can be sure that Coinbase is prepared for that change. The company has just acquired Xapo, a crypto provider that was one of the largest custodians in the market.
With the acquisition, Coinbase now sits at the top, being the largest crypto custodian in the whole world. At the moment, the company would have at least $7 billion USD worth of cryptos under its management.
Armstrong: The Future Is Bright
Despite the bull run that was started some months becoming calmer in the last few weeks, the future of the crypto market is pretty bright, according to Armstrong. Several institutional investors are finally ready to enter this world and companies such as Bakkt, which will offer BTC futures, will be important in this new phase.
He also hinted that Coinbase is exploring new products and looking at new ways to monetize assets and to improve its business model.
Author: Gabriel Machado
Coinbase Commerce, a special platform designed by Coinbase to be used by merchants, is using Constantinople, Ethereum’s most recent upgrade, to let its retailers use USD Coin (USDC).
The platform, which helps investors who want to receive crypto payments, has recently added USDC, which is based on the Ethereum technology. Bojan Joveski, a software engineer of the company, has recently affirmed that it was a new ETH feature that made this possible.
According to him, the new CREATE2 feature was added during the Constantinople update and made it possible to use smart contracts in other situations and to save costs, which helped in order to make USDC usable on the platform. CREATE2 can diminish gas costs for using USDC, which enables the company to let clients use the token without having to pay any extra fees.
CREATE2 was proposed by the founder of the ETH network, Vitalik Buterin. It was initially named Ethereum Improvement Proposal 1014 and it was focused on the development of new smart contracts, especially smart contracts that will be deployed in the future and need a lot of variables in order to work well.
This prompted the company to use USDC on the platform. In case you do not know, USDC, which was developed by Circle, is a sort of official Coinbase stablecoin. Obviously, there are huge advantages to using your own token on your platform, especially because it boosts its adoption.
While most payments are made on Bitcoin and Tether (USDT) these days, this could help the token to carve its niche more effectively.
Author: Gabriel Machado
You can now trade Tezos (XZT) tokens on Coinbase, according to a recent blog post from their official blog, users are now able to buy, sell, send, receive and store the tokens starting on August 8. Customers will be able to access the asset from desktop computers or by using the Android and iOS apps.
The new offering is available for users from all regions, except New York State. The reason for this is, the state has stricter compliance laws than other jurisdictions, so it may take longer before the listing becomes available.
Coinbase’s new asset Tezos uses a proof of stake method. It lets the token holders vote on changes that happen on the network and can get money by staking tokens. The tokens were originally launched back in 2017 via an Initial Coin Offering (ICO).
At the time of this report, each token was worth $1.58 USD, up 15% in the last 24 hours, possibly due to the listing.
The listing is part of a larger move made by the company in order to list more assets and diversify its portfolio. This way, Coinbase hopes to cater to investors who want to invest in more than just Bitcoin.
Author: Gabriel Machado
Coinbase has recently announced on its official blog that the crypto company is interested in adding more assets to its international clients. According to the crypto exchange, the long-term goal is to be able to access at least 90% of the whole crypto market cap by using Coinbase.
However, in order to achieve this, the company has to determine which assets are the most important ones first and which ones can be up to its security and compliance measures.
Eight Assets Are Under Review
Coinbase has revealed that there are currently eight assets which are being reviewed by the company: Waves, DASH, Cosmos, Algorand, Ontology, Matic, Decred and Harmony.
At the moment, the company is studying each asset in order to determine how to proceed with the process. Only the ones that do not represent any compliance issue, have a secure technology and are deemed as decent investments will be available on the platform.
Tokens Will Only Be Accessible From Some Jurisdictions
The crypto exchange is adding several tokens to its list of assets recently. The process started a few months ago and the list continues to grow. As expected, some of these tokens will not be available on all the jurisdictions at launch. As each country has different laws, the company is often not able to launch its products in all of them at the same time.
Some U. S. states, specifically, will possibly not be able to receive these assets, especially New York, which is known for its tight regulation.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.
Author: Gabriel Machado