Coinbase Listing News Fits With Bullish Mainstrem Market, Pomp Says

Amid a bullish mainstream market, news of Coinbase’s reported traditional stock market listing could prove timely alongside other companies similar public listing efforts.  “When good times are rollin in the stock market, people want to get in there,” Morgan Creek Digital co-founder Anthony Pompliano said on an episode of his YouTube show, Lunch Money. Pompliano’s response came after a question from co-host, writer and influencer Polina Marinova, on the timing of Coinbase’s listing.  Traditional markets have shown positivity as of late. The S&P 500, a common mainstream market health barometer, sits…

Coinbase Reportedly Preparing for IPO Later in 2020

Coinbase, Inc. is reportedly preparing for a U.S. stock market listing that could come this year, according to Reuters reporting. According to Reuters sources, preparations for a listing are underway but still need the green light from the Securities and Exchange Commission. If successful, this would mark the first time that a cryptocurrency exchange would be listed on traditional markets. Some mining companies have conducted or are preparing for initial public offerings, with Canaan doing so late last year. Coinbase was valued at more than $8 billion in its latest…

Former Facebook Counsel Joins Coinbase as Chief Legal Officer

Paul Grewal, a former US magistrate judge in California and Deputy General Counsel for Facebook, is joining crypto exchange Coinbase’s legal team. In a July 8 announcement on the Coinbase blog, the crypto exchange said the addition of Grewal will help “pave the way for the next phase of crypto awareness and adoption.” The new Chief Legal Officer will also lead the legal team as Coinbase partners with financial services regulators, and develops and releases new products and services. According to Coinbase, Grewal oversaw more than a thousand cases during…

Cardano’s ADA May Be Listed on Coinbase Before the End of 2020

Cardano’s native cryptocurrency, ADA (ADA), may be listed on Coinbase by the end of 2020. This news comes following an announcement that ADA holders will soon be able to stake their assets in Coinbase custody. More announcements coming in 2020 An IOHK (Cardano development company) spokesperson released the following statement to Cointelegraph replying to the question of whether a Coinbase listing is also in the works: “With the release of Adrestria, our new suite of libraries and APIs, allowing for a seamless, modular process of integrating Cardano with exchanges, we’ve…

Coinbase and Circle-Backed Stablecoin USD Coin Breaks $1B Market Cap

USD Coin (USDC), a stablecoin project founded by Coinbase and Circle, has hit a major milestone in market capitalization. On July 3, 2020, USDC market cap broke the $1 billion threshold for the first time since the stablecoin was launched in October 2018. According to data from Coin360, the coin has seen sharp growth since March 2020. USDC, the second-largest USD-pegged stablecoin after Tether (USDT), is ranked the 17th largest cryptocurrency by market cap as of press time. USD Coin all-time chart. Source: Coin360 Announcing the news on Thursday, the…

Court Likens Coinbase to a ‘Traditional Bank’ in Child Porn Appeal Case

A three-judge panel has ruled that FBI agents who subpoenaed Coinbase records to show a man had used Bitcoin to access child pornography did not violate his Fourth Amendment rights. They rejected the appeal of Richard Gratkowski, who was convicted of receiving child pornography and accessing websites with the intent to view child pornography in May 2019 and was sentenced to 70 months in prison with 10 years of probation. On June 30, the court likened Coinbase to a traditional bank, citing the Supreme Court’s unanimous 1939 decision in United…

Coinbase Custody to Hold Assets Backing 21Shares’ Bitcoin ETP

21Shares, an asset manager specialized in cryptocurrencies, has chosen the custody service offered by crypto exchange Coinbase for its Bitcoin (BTC) exchange-traded product. According to a July 1 Coinbase announcement, 21Shares will use Coinbase Custody to secure the Bitcoin backing the ETP launching tomorrow. The derivative will launch on Deutsche Börse’s Xetra — Germany’s second-largest stock exchange. The product is purportedly he first physically-backed Bitcoin ETP in Europe. Cryptocurrency derivatives see explosive growth Cryptocurrency derivatives are seeing new developments increasingly often. In late-February, 21Shares’s also launched an inverse Bitcoin ETP…

CoinMetrics Finds the ‘Coinbase Effect’ is Actually Pretty Lame

The fabled ‘Coinbase Effect’ has a much more limited impact on the price of newly listed coins than is popularly believed, according to CoinMetrics. The crypto data analysis firm has just published a report examining the impact that listing on the leading U.S.-based crypto exchange has on the price of a given crypto asset. The report concludes the effect is fairly muted — with new Coinbase markets typically posting average and median price performances between -1% and +14% against USD, Bitcoin (BTC), and Ether (ETH) from 10 days before until…

Coinbase Pro Announces Support for Compound’s DeFi Token COMP

United States cryptocurrency exchange Coinbase Pro announced the listing of COMP, the token powering the decentralized lending protocol Compound. According to a Thursday announcement, COMP trading will start on June 23 at 9 a.m. Pacific Time if the liquidity requirements are met. Furthermore, users will be able to deposit their COMP tokens the day hours before the trading activity is scheduled to start. Trading will start progressively After a sufficient — and unspecified — supply of COMP tokens make their way to Coinbase Pro, the exchange will progressively roll out trading…

BTC in Peril, Quadriga “Ponzi,” Coinbase Punished: Hodler’s Digest, June 8–14

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin price drop to key $9,000 support could place the uptrend in peril Will the drama surrounding BTC’s price ever end? Probably not any time soon. This week, Bitcoin fell $800 in a matter of hours to reach lows not seen since May 28. That…