In response to the Wall Street Journal | by Coinbase | Sep, 2022

Tl:dr Earlier today, the Wall Street Journal published an article highlighting client-driven activities, which they seem to confuse with proprietary trading. Unlike many of our competitors, Coinbase does not operate a proprietary trading business or act as a market maker. In fact, one of the competitive strengths of our Institutional Prime platform is our agency only trading model, where we act only on behalf of our clients. As a result, our incentives and our clients’ incentives are aligned by design. Coinbase does, from time to time, purchase cryptocurrency as principal,…

Coinbase Cloud launches platform for web3 developers | by Coinbase | Sep, 2022

Starting today, developers have free and instant blockchain API access with Node by Coinbase Cloud TL;DR: Coinbase Cloud enables web3 developers to build their web3 applications with instant and reliable read/write blockchain access using Node. By Luv Kothari, Group Product Manager, Coinbase Cloud; Sriram Raman, Product Manager, Coinbase Cloud Web3 development is complex. One needs to learn new programming languages, blockchain technologies, and on top of that, there are many protocols to support. Coinbase Cloud is committed to helping Web3 developers do what they do best… BUIDL. That’s why we’re…

What Web3 Identity Needs. TL;DR: To create an open financial… | by Coinbase | Sep, 2022

TL;DR: To create an open financial system for the world, we need to ensure web3 is usable by everyone. This means building an identity experience that’s intuitive, forgiving, and trustworthy, combining the best of web2 and web3. Our first step is to make it easy for anyone to claim a web3 (ENS) username for free, but there’s more work to be done. By Alex Reeve, Group Product Manager, Identity If you’ve used crypto, you’ve probably experienced the anxiety that comes from sending tokens or NFTs to intimidating 42-character addresses like…

Celer Bridge incident analysis. Tl;dr: In this piece we share critical… | by Coinbase | Sep, 2022

Tl;dr: In this piece we share critical lessons about the nature of the Celer Bridge compromise, attacker on-chain and off-chain techniques and tactics during the incident, as well as security tips for similar projects and users. Building a better crypto ecosystem means building a better, more equitable future for us all. That’s why we are investing in the larger community to make sure anyone who wants to participate in the cryptoeconomy can do so in a secure way. While the Celer bridge compromise does not directly affect Coinbase, we strongly…

Sanctions Should Target Bad Actors. Not Technology. | by Coinbase | Sep, 2022

Tl;dr: Coinbase is funding a lawsuit brought by six people challenging the US Treasury Department’s sanctions of the Tornado Cash smart contracts and asking the Court to remove them from the U.S. sanctions list. The lawsuit explains that OFAC exceeded its authority from Congress and the President in sanctioning open source technology, rather than sanctioning the bad actors who used it or the property of those bad actors. By Paul Grewal, Chief Legal Officer Today, Brian Armstrong shared why Coinbase is funding and supporting a challenge by six individuals (including…

Defending Privacy in Crypto. Tl;dr: Coinbase is funding a lawsuit… | by Coinbase | Sep, 2022

Tl;dr: Coinbase is funding a lawsuit brought by six people challenging the U.S. Treasury Department’s sanctions of the Tornado Cash smart contracts and asking the Court to remove them from the U.S. sanctions list. The sanctions exceed Treasury’s authority, harm innocent people, remove privacy and security options for crypto users, and stifle innovation. By Brian Armstrong, CEO and Cofounder Today we’re announcing that Coinbase is funding a lawsuit brought by six people challenging the United States Treasury Department’s sanctions of the Tornado Cash smart contracts and asking the Court to…

Real-time reconciliation with Overseer | by Coinbase | Sep, 2022

Tl;dr: A common challenge with distributed systems is how to ensure that state remains synchronized across systems. At Coinbase, this is an important problem for us as many transactions flow through our microservices every day and we need to ensure that these systems agree on a given transaction. In this blog post, we’ll deep-dive into Overseer, the system Coinbase created to provide us with the ability to perform real-time reconciliation. By Cedric Cordenier, Senior Software Engineer Every day, transactions are processed by Coinbase’s payments infrastructure. Processing each of these transactions…

How Coinbase Protects Users From Risky Assets | by Coinbase | Sep, 2022

By Dan Kim — Vice President, Ecosystem and Listings Tl;dr: Coinbase reviews thousands of crypto tokens; around 90% never get considered for listing as they do not meet our strict requirements for protection against scams like “pump-and-dumps” and “rug pulls.” Our proprietary threat detection software has identified and blocked over 700 tokens with malicious software that can harm Coinbase users. We also conduct in-depth research on project teams to ensure they don’t have a record of engaging in questionable business practices. In order to get the next 100 million people…

Coinbase Cloud launches Solana Archival Nodes to empower the Solana developer community | by Coinbase | Sep, 2022

by Coinbase Cloud team Sep 6 — We have updated this post to more accurately describe our product by clarifying that the Solana Archival product is a blockstore of historical transactions, not an archive of account state at every point in time. Tl;dr: Coinbase Cloud is expanding our dedicated Solana infrastructure offering to include Solana Archival Nodes. These Solana Archival Nodes can query information about every slot since genesis. These queries can be used to derive historical address balances, as well as build custom indexers and analytics products. Customers using…

Building a Python ecosystem for efficient and reliable development | by Coinbase | Sep, 2022

Tl;dr: This blog post describes how we developed an efficient, reliable Python ecosystem using Pants, an open source build system, and solved the challenge of managing Python applications at a large scale at Coinbase. By The Coinbase Compute Platform Team Python is one of the most frequently used programming languages for data scientists, machine learning practitioners, and blockchain researchers at Coinbase. Over the past few years, we have witnessed a growth of Python applications that aim to solve many challenging problems in the cryptocurrency world like Airflow data pipelines, blockchain…