web3 on the platform of your choice — a closer look at Coinbase Wallet’s multi-platform approach | by Coinbase | Jun, 2022

Tl;dr: The replatforming of Coinbase Wallet’s mobile app reflects our commitment to improving access to web3. In this blog, we discuss why the transition to React Native marks a critical turning point for both our users and our technical teams. By Chintan Turakhia, Director of Coinbase Wallet Engineering, and Dan Coffman, Coinbase Wallet React Native Lead gm This week, we announced the debut of Coinbase Wallet’s new mobile iOS and Android apps built using React Native. This launch marks a critical inflection point for Coinbase Wallet and its users, and…

Kraken to Trail Binance in Hiring Over 500 Staffs Amid Crypto Meltdown

Kraken exchange has made a very bold revelation that it does not intend to make any layoffs despite the growing concerns about the ongoing crypto-economic meltdown. As shared in a recent blog post, Kraken said a lot of its staff have been asking what the current market outlook means for the staff, a question that the exchange said its response to was that this downturn is not the first of its kind. Kraken explained that it believes so much in the potential of the digital currency ecosystem, and it has…

A message from Coinbase CEO and Cofounder, Brian Armstrong | by Coinbase | Jun, 2022

By Brian Armstrong, CEO and Cofounder Earlier today, I shared the following note with all Coinbase employees. Team, Today I am making the difficult decision to reduce the size of our team by about 18%, to ensure we stay healthy during this economic downturn. I want to walk you through why I am making this decision below, but first I want to start by taking accountability for how we got here. I am the CEO, and the buck stops with me. Over the past month, I’ve had many conversations with…

Update on Hiring Plans. By L.J Brock, Chief People Officer | by Coinbase | Jun, 2022

By L.J Brock, Chief People Officer I shared an update with our employees today that I want to also share publicly here. TL;DR: In response to the current market conditions and ongoing business prioritization efforts, we will extend our hiring pause for both new and backfill roles for the foreseeable future and rescind a number of accepted offers. Two weeks ago, we paused hiring while we took time to reprioritize our hiring needs against our highest-priority business goals. As these discussions have evolved, it’s become evident that we need to…

Binance Scores Big Win as Newly Licensed Exchange in Italy

Binance cryptocurrency exchange has just scored a big win as its Italian offshoot, dubbed Binance Italy, has received approval to operate in the country by the Organismo Agenti e Mediatori (OAM). With the new license, Binance can now work, and offer its products and services to Italians, marking the firm’s gradual influence growth in the European Economic Area (EEA). Back in 2021, several regulators around the world, including those from Italy warned Binance to stop offering exchange-related activities on their shores.  With the restrictions from regulators and watchdogs mounting massively,…

FACT0RN Blockchain: Integer Factorization as Proof-of-Work (PoW) | by Coinbase | May, 2022

Tl;dr: This report updates on what FACT0RN Blockchain, a Coinbase Crypto Community Fund grant recipient, has been working on to replace PoW hashing by work that is of interest to the private sector as well as to the academic community. Code for the FACT0RN Blockchain, which launched April 20, 2022, can be found here and the whitepaper can be found here. By Escanor Liones (Github) Proof-of-work (PoW) is the original scheme to secure blockchain technology introduced in 2009 by Satoshi Nakamoto through the Bitcoin whitepaper. An analysis done in late…

Binance Bahrain Gets Category 4 License to Provide Crypto Trading Service

Binance, a global cryptocurrency exchange, announced on Thursday that its subsidiary in Bahrain has received a Category 4 license as a crypto asset service provider (CASP) from the Central Bank of Bahrain (CBB). According to the announcement, Binance Bahrain is the first exchange to be awarded a category 4 license by the CBB. The Category 4 license will allow Binance Bahrain to offer a full range of crypto trading services to consumers under the supervision of the Bahrain regulators. Richard Teng, Head of MENA at Binance, further elaborated: “The upgrade…

Part 2: Quantitative Crypto Insight: Stablecoins and Unstable Yield | by Coinbase | May, 2022

By George Liu and Matthew Turk Tl;dr: This blog analyzes centralized stablecoin lending yield for Compound Finance and shares our insights on performance, volatility, and factors that drive this yield on collateralized lending of stablecoins in DeFi. The analysis shows that this lending yield can outperform the risk-free yield in the TradFi market. In part two of this quantitative research piece, we will examine stablecoin lending yield for the Compound Finance V2 decentralized finance (DeFi) protocol and share our insights on yield performance, volatility, and what factors are driving yield…

Coinbase Exchange Leaps as Fortune 500 Company

Nasdaq-listed cryptocurrency exchange, Coinbase Global Inc has been added to this year’s list of Fortune 500 companies, making it break the record as the first fully crypto native firm that made the list.  Fortune 500 companies are the most valuable firms in the United States as measured by their cumulative revenue for the 2021 fiscal year. The revenue threshold for this year was placed at $6.4 billion, up 19% from last year. Overall, Coinbase made it to the list as the 437th-ranked company with a cumulative revenue of $7.839 billion,…

TRUST Expands its Global Footprint and is Now Live Internationally | by Coinbase | May, 2022

Coinbase is pleased to announce the international expansion of the Travel Rule Universal Solution Technology (TRUST), a global, industry-driven solution designed to comply with a requirement known as the Travel Rule while protecting the security and privacy of customers. In February of this year, TRUST launched in the United States. Since that launch, TRUST has now gone live in Canada and Singapore, and is actively working to expand to other global jurisdictions, including Europe. As more countries begin to implement Travel Rules, TRUST is focused on providing its top-tier compliance…