Binance Informs Customers of Upcoming Service Disruption

It has been brought to the attention of the retail customer base of the cryptocurrency exchange Binance that there is a possibility that they may be unable to access their accounts at some point in the not-too-distant future due to the fact that the exchange may go out of business. In the event that anything comparable occurs, there is a possibility that on-ramp and off-ramp bank money transfers will no longer be possible. Users who wish to buy or sell cryptocurrencies for an amount that is less than one hundred…

Coinbase Study Reveals Global Law Enforcement Inquiries Skyrocket

  The cryptocurrency exchange has claimed that the total number of queries has increased by 66 percent, with the United States contributing to the rise of inquiries by a significant margin; the United States, along with three European nations, made up 80% of all requests. The most recent transparency report that was published by Coinbase discloses that the company has seen an increase in the number of information requests from law enforcement agencies over the course of the prior year. The United States of America was the country that submitted…

Binance employs Trump audit company to check crypto reserves

  The United States branch of Mazars served as the corporation of former United States President Donald Trump’s accounting firm for a significant amount of time. In order to carry out the proof-of-reserve (PoR) audits that were prompted by the decline of FTX, the cryptocurrency exchange Binance is collaborating with the accounting firm Mazars. According to a report published by the Wall Street Journal on November 30, Mazars, an accounting firm that previously worked for the company of the former President of the United States Donald Trump, has been appointed…

Binance CEO Estimates that the Firm May Spend Over $1B on Deals by the End of 2022

Changpeng Zhao, the CEO of global leading digital-asset platform Binance has announced that the firm may spend more than $1 billion on investment by the end of 2022.  Zhao, also known as ‘CZ’ made this revelation in an interview with Blomberg and claimed that Binance could spend more than $1 billion on investments and asset purchases, despite what appears to be a volatile crypto market.    Recall that Binance has also invested $325 million in 67 additional projects in recent times. Meanwhile, the VC division of Binance has made several…

Coinbase Partners with Chainlink Labs to Launch NFT Floor Price Service

Blockchain infrastructure protocol Coinbase Cloud and decentralized oracle network Chainlink Labs have teamed up to launch an NFT floor price feed service. The partnership will introduce the NFT lowest pricing source in the Coinbase cloud service, allowing developers to access real-time NFT prices to build applications such as NFT lending marketplaces, such as NFT indices. The floor price of NFT represents the lowest purchase price of NFTs in a collection. Its feed service utilizes Coinbase Cloud’s NFT pricing algorithm to scan every NFT transaction in major market collections, estimate the current…

Binance Assists in Recouping Fund for Vicitims of Contra Tech Fraud

Binance exchange has announced it is heavily involved in helping the victims of Contract Tech fraud from back in 2017/18 to recoup their lost funds. For the past couple of years, the digital currency ecosystem has been experiencing quite a lot of cybercrime activities, with most victims left to count their losses despite government intervention in some cases. In the case of Contra Tech, the United States government has helped recoup as many as 100,000 ETH tokens belonging to as many as 170,000 victims.  As planned by the government, the…

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…