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Coinbase says the crypto market may be on the verge of a ‘’full-scale’’ altcoin season as Bitcoin dominance dips below 60%, signaling early rotation into altcoins. Rising expectations that the Federal Reserve will cut interest rates next month would be the main driver, it said in its monthly outlook. Flatter headline inflation last month and falling energy prices boosted expectations for a September rate cut to 92%, according to futures data Lower interest rates often drive capital into riskier assets, and Coinbase notes that a portion of the $7 trillion parked in US money market funds could flow into cryptocurrencies. Coinbase defines an altcoin season as when at least 75% of the top 50 altcoins outperform Bitcoin over the past 90 days. On-chain data and market indicators suggest conditions are aligning for a broader altcoin breakout. Coinbase’s Altcoin Season Index currently sits in the low 40s, up from below 25 in July, signaling earl...

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

The largest cryptocurrency exchange in the United States, Coinbase, has announced that it is suspending the trading of wrapped Bitcoin (wBTC) as its own cbBTC offering continues to rise in value. In a post to X (formerly Twitter), the exchange announced that the suspension comes as part of a compliance review for the cryptocurrency. The exchange notes that the asset will be suspended on December 19th, around 12pm ET. The move is a regular monitoring practice, as the firm looks to affirm all listed tokens “meet our listing standards.” Moreover, the rise of Coinbase’s own wrapped Bitcoin option has undoubtedly played a part in the decision. We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET. — Coinbase Assets ️ (@CoinbaseAssets) November 19, 2024 Also Read: Coinbase Officially Lists the Meme Coin PEPE Coin...

Coinbase added the new native asset of an Ethereum (ETH) layer-2 scaling protocol to its listing roadmap on Friday, putting the token on the potential path to trading on the top US crypto exchange. Zksync (ZK), the newest addition to the listing roadmap, bills itself as “an ever-expanding verifiable blockchain network, secured by math.” The project is a ZK rollup, one of the two main types of rollup solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. ZK rollups run computations off the chain and then submit a validity report, while the other type, Optimistic rollups, automatically assume transactions are valid. Explains ZKsync’s whitepaper, “ZKsync Era is made to look and feel like Ethereum, but with a higher throughput and lower fees. Just like on Ethereum, smart contracts are written in Solidity/Vyper and can be called using the same clients as in other EVM-compatible chains. You don...

The Securities and Exchange Commission (SEC) has filed a complaint against Drive Planning, LLC, and Russell Burkhalter accusing them of operating a real estate Ponzi scheme in which funds were misappropriated to Coinbase, and used to buy a yacht and a private jet.  Drive Planning allegedly sold unregistered securities to investors, promising they could earn a 10% return in just three months. These returns were supposed to be generated by providing bridge loans to or entering into joint ventures with real estate developers. Strangely, the website for this scheme didn’t just promise incredible financial returns; it actually promised “to guide you towards being Relationally Rich, Physically Fit and Financially Free.”  In total, investors invested more than $372 million in the scheme, and it currently owes $287 million to investors.  Unfortunately for them, however, Drive Planning didn’t have a way to actually deliver these returns, instead allegedly paying the...

Crypto exchange Coinbase announced an update to its commerce product based on the new Onchain Payment Protocol. It simplifies and standardizes onchain payments . The company said that the updated product will solve the problems of volatility and complexity with transactions. It will provide a single setup for commercial clients and allow integration with platforms like WooCommerce, Primer, and Jumpseller. “This enhancement offers merchants volatility-free payments , low transaction fees, and instant settlement across hundreds of currencies, available on Base and other EVM networks.” Coinbase blog In addition, the protocol involves the automatic conversion of any cryptocurrency into the USD Coin (USDC) stablecoin. The platform listed other key advantages, such as low fees for transfers and instant settlements in many cryptocurrencies, confirmation of transactions in real-time, which will increase user convenience, and support for cryptocurrencies in the Ethereum (ETH), Polygon (...

A total of $180 million 2031 Senior Notes will be repurchased by the exchange. Cryptocurrency exchange has upsized its debt buyback offer from $150 million to $180 million. According to the Sept. 5 announcement, Coinbase will commit a total of $180 million to buying back its 3.625% Senior Notes due 2031. The offer will lapse on Sept. 18 at 11:59 pm Easten Time.  At the time of announcement, $50 million in tendered notes had been accepted for purchase , with an additional $211 million in tendered notes that had not been accepted, for a total of $261 million. Per Coinbase's offer, investors would receive 67.5 cents on the dollar should their tendered 2031 Notes be accepted for re purchase by the exchange. The 2031 Notes have $1 billion in principal outstanding and were issued in September 2021. They are currently trading near the offer value, having previously fallen to as low as 46 cents on the dollar in early January due to investor concerns regarding Coinbase's credit quali...

The Ethereum [ETH] network is still trying to steer away from accusations about the network becoming centralized following its shift to proof-of-stake. Amidst this, new data shows that 55% of Ethereum exchange holdings were on two prominent crypto currency exchanges. Nansen statistics show that 8.72 million, or 35%, of the total amount of ETH stored on exchanges, are kept on Coinbase. Binance followed suit by 20%, and the two of them account for 55% of the market. Kraken has a meager 7.89%. Source Even though Binance is the largest crypto currency exchange in the world, it only has 4.94 million users. The aforementioned exchanges now have a combined total of 24.9 million ETH. Meanwhile, the total number of ETH staked went on to hit an all-time high of 15.9 million over the weekend. At press time, the total amount staked is over $25.18 billion, which is also 13% of the asset’s supply. Here’s how Ethereum [ETH] has been faring Earlier today, ETH was trading at a h...