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In an Oct. 16 announcement, Coinbase, one of the world’s largest exchanges, announced Germany as being its new regional talent hub. The announcement comes in another move in Phase II of the platform’s ‘Go Broad, Go Deep’ international market strategy. Growing German operations In the announcement on Coinbase’s blog page, the exchange reports that German operations have grown in the past 12 months, resulting in a doubling headcount in the company’s “fastest growing office”. As a regional talent hub, Coinbase’s Germany operations will be integral in helping the exchange source and develop local crypto talent .  You might also like: Coinbase warns against Hamas’ use of crypto At the time of writing, it was reported that more than six percent of the 83 million people in Germany are currently invested in cryptocurrencies, highlighting an opportunity for ongoing development. The exchange also teased that over the next two weeks, more Phase II moves can be expected, with

Layer-2 networks have been taking the front stage. Coin Base , a well-known crypto currency exchange, capitalized on this trend by introducing the Base platform. In the past week, it has significantly influenced the decentralized finance [DeFi] market with its impactful actions. The total value locked [TVL] of the network managed to surge to a high of $558 million. Recent data indicates that the value locked on the Base network has experienced a remarkable 25.23% surge over the past week. Source Furthermore, despite a promising beginning in October, the Base network has witnessed a significant decline in transaction activity. To put this into perspective, on Oct. 2, Base processed 1.3 million transactions, but today it stands at just 520,000 transactions. This development comes as a surprise, especially considering the series of hacks that Friend.tech faced. Base’s prosperity has primarily stemmed from the significant volume linked to its association with Friend.tech. Al

Coinbase’s Base L2 network faces a new setback as Magnate Finance orchestrates a $6.5 million exit scam using price oracle manipulation. On Aug. 25, ZachXBT, an on-chain analyst and crypto expert, sent out a community alert through X (previously known as Twitter) to his 434,000 followers, cautioning them about a potential exit scam by Magnate Finance, a lending protocol operating on BASE. Community Alert: Magnate Finance on Base will likely exit scam in the near future currently with over $6.4M TVL. The deployers address is directly linked to the Solfire $4.8M exit scam. pic.twitter.com/mBDUy3D66j — ZachXBT (@zachxbt) August 25, 2023 Within an hour of the warning, Magnate Finance’s website went offline, and its Telegram group was deleted. The abrupt disappearance led to a loss of $6.5 million, attributed to the deployer’s manipulation of the price oracle. Magnate Finance, which described itself as a novel lending protocol on Coinbase’s BASE chain, had accumulated $6.4 million in

In July, Kraken reinforced its dominance as the top platform for altcoin trading in the US. Kaiko reports reveal that Kraken commanded nearly 50% of the market depth for the top 10 altcoins. On Aug. 9, Kaiko’s research analyst, Dessislava Ianeva, spotlighted Kraken’s significant altcoin market influence. In July, Kraken emerged as the most liquid platform for alts in the US. Its claiming almost half of the market depth for the top 10 alts. pic.twitter.com/2fumt7yi9a — Dessislava Ianeva (@DessislavaIane2) August 9, 2023 Known for its impressive euro volume and liquidity, Kraken supports trading over 100 cryptocurrencies and seven fiat currencies. Founded in 2011 and launched in 2013, Kraken caters to over 8 million traders and institutional clients. Its prominence has grown, particularly after Binance and Coinbase faced SEC allegations. You might also like: Binance engages former DOJ prosecutor to counter SEC allegations Such allegations triggered tighter global r

A day back, the SEC sued Coinbase on account of violating U.S. security laws. The regulator contended that Coinbase never registered with the SEC as a broker, national securities exchange, or clearing agency. In effect, the SEC claimed, the crypto exchange evaded the disclosure regime set by regulators. Alongside, the agency also deemed several crypto tokens to be unregistered securities. On the news of the said development, Coinbase shares started losing value. It shed around a fifth of its value during the pre-market hours. The same pessimistic sentiment was rolled over when the market opened. With no hardly any mercy shown by bears, COIN closed 12.09% lower, at $51.61 on Tuesday June, 6. Coinbase Stock Price by TradingView Also Read: SEC Sues Coinbase, Citing U.S. Securities Law Violations Despite the legal drama and price dip, Cathie Wood ’s Ark Invest bought Coinbase shares worth millions yesterday. In batches of 329.7k, 53.8k, and 35.6k, the investment manager adde

The Wahi brothers were charged with trading at least 25 different digital currencies based on Ishan’s prior knowledge of their listing on the trading platform, a benefit of his role as a product manager with the exchange. Per the terms of the settlement, the Wahi brothers have agreed to return the ill gotten gains from their activities. They will also be paying the accrued prejudgment interests related to the case. advertisement The Insider Trading activities by both brothers was flagged back in July last year and through a series of coordinated investigative efforts, both of them were apprehended and charged to Court. Earlier development revealed that Nikhil was sentenced to 10 months imprisonment back in January this year while Ishan bagged 2 years for his misconduct. Additional Demand Placed on the Former Coinbase Manager Despite the jail terms, Ishan has been ordered to forfeit 10.97 Ether and 9,440 Tether, and Nikhil was ordered to forfeit $892,500.

Armstrong and Murugesan admit the potential for the UAE to become a strategic hub for Coinbase. The UAE continues to expand its crypto and Web3 narrative with the first dedicated crypto regulator, clear regulations, and strong investor and customer protection. advertisement Coinbase Seeks Further Opportunities in the UAE Nana Murugesan , VP of International & Business Development at Coinbase, on May 8 revealed that the executive team, including CEO Brian Armstrong, are in the UAE for further strategic developments in the region. Coinbase is working with < strong >Abu Dhabi Global Market (ADGM) strong > regulators for licensing and availability for Coinbase International Exchange after it launched the derivatives exchange in Bermuda last week. The exchange is also seeking additional licenses and partnerships as < strong >Dubai’s Virtual Assets Regulatory Authority (VARA) strong > builds a retail framework with virtual assets. Coinbase will

The total crypto market cap has been ranging sideways, but Bitcoin derivatives markets indicate pro traders don't expect any major price corrections. For the past 14 days, cryptocurrency markets have been trading within an unusually tight 7.1% range. In other words, investors are unwilling to place new bets until there’s additional regulatory clarity, especially in the United States. The total crypto market capitalization fell by 1% to $1.2 trillion over the seven days ending May 4, primarily as a result of Bitcoin's (BTC) 1.1% price decline, Ether's (BTC) 0.2% loss, and BNB trading down 1.4%. Total crypto market cap in USD, 12-hour. Source: TradingView Notice that the exact same $1.16 trillion to $1.22 trillion total market cap range previously stood for twelve days between March 29 and April 10. The conflicting forces: regulatory uncertainty weighing it down and the banking crisis pushing prices upward are likely the reason for the lack of risk-appetite on both sides. SE