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Circle and Coinbase’s Centre Seeks to Form Consortium to Promote, Issue...

Centre consortium founders Coinbase and Circle open invitations to other institutions wishing to issue USD Coin. Stablecoins have become rather frequently discussed in the news and social media over the past few weeks, especially with the news of the release of the Facebook-backed Libra coin. The current wave of stablecoin issuance could be attributed to the lack of liquidity in the cryptocurrency world. But even though the crypto market is now slowly recovering from a long bear trend, the ecosystem of stablecoins continues to expand even further. One of the most notable events in the stablecoin space was a recent announcement by Circle and Coinbase. After launching its own digital dollar — called USD Coin (USDC) — in September 2018, Circle (a Goldman Sachs-backed crypto startup) is now opening its doors to other institutions interested in issuing USD Coin. Circle partnered with crypto exchange and wallet company Coinbase to launch a consortium called Centre that will support and dev..

Coinbase CEO Praises Privacy While Allegedly Blacklisting Anonymous Transactions

Co-founder and CEO of major U.S.-based cryptocurrency exchange Coinbase Brian Armstrong attracted criticism after praising private crypto transactions. Co-founder and CEO of major U.S.-based cryptocurrency exchange Coinbase Brian Armstrong attracted criticism after praising private crypto transactions in a tweet published on June 22. In the aforementioned tweet, Armstrong notes that “a scalable, sufficiently decentralized, chain that supported private transactions by default (privacy coins) would be a game changer.” He then compares anonymous cryptocurrency transactions to cryptography on the web, pointing out that it is increasingly predominant. He also used messaging as an example: “Same with messaging, end to end encryption started out fringe and is now the expected default.” Armstrong also cited the recent news about the Electric Coin Company (ECC), the firm behind second-biggest anoncoin zcash (ZEC), intending to build a new scalable zcash blockchain as an example of privacy by d..

Recent Firefox’s Zero-Day Flaw Was Used in Attacks Against Coinbase’s Employees

The recently reported Firefox’s zero-day flaw was used by hackers to attack Coinbase employees on June 17. The recent Firefox’s zero-day security flaw was used in attacks against major crypto exchange and wallet service Coinbase, according to a tweet from Coinbase security researcher Philip Martin posted on June 20. As Martin found, the reported critical zero-day vulnerability in Mozilla’s Firefox web browser, which was announced on June 18, has actually emerged along with another zero-day flaw that targeted Coinbase employees, meaning that there were two separate Firefox zero-day attacks. The Coinbase security expert tweeted: “On Monday, Coinbase detected & blocked an attempt by an attacker to leverage the reported 0-day, along with a separate 0-day firefox sandbox escape, to target Coinbase employees.” Martin continued that Coinbase was not the only crypto-related company targeted in the campaign, adding that the firm is working to report other businesses that they believe were also..

Coinbase Custody Holds $1.3B in Assets Under Custody, Expects to Hit...

Coinbase Custody announced that it holds $1.3 billion in assets under custody and the firm expects to hit $2 billion soon. Coinbase Custody revealed that it holds $1.3 billion in assets under custody (AUC) and the firm expects to hit $2 billion AUC soon in a Twitter thread published on June 13. In a series of tweets, what is evidently the official Coinbase Custody Twitter account reported that last week the company’s CEO, Sam McIngvale, and its chief information security officer, Philip Martin, visited the United Kingdom. The purpose of the visit was reportedly “to discuss the institutional cryptoeconomy with a range of prospects and clients.” During the meeting, the firm’s representatives argued that, while many believe that there are no institutional-grade offerings in the cryptocurrency space, Coinbase Custody is in fact such an offering. The firm’s representatives stated that the company is insured, regulated and secure custodian. The thread also specifies: “We have $1.3bn AUC and..

Circle and Coinbase Invite More Members to Consortium Behind US Dollar...

Following Circle’s USD Coin launch in late 2018, the firm decided to expand its Centre consortium to more members. Goldman Sachs-backed crypto startup Circle and crypto exchange and wallet service Coinbase are expanding their consortium behind USD coin (USDC), according to a blog post on June 13. The Centre consortium acts as a platform for deposits and fiat conversions for Circle’s own cryptocurrency, a United States dollar-backed digital token. Having launched USD coin back in September 2018, Circle has now announced that Centre is opening up for more members and industry participation. In the post, Centre wrote that Circle and Coinbase have been working to create and establish its Centre Network as a “membership-based framework and governance scheme.” Inviting more participants to join its network, Centre wrote that the consortium membership provides institutions with the right to issue or redeem USD coin. In order to obtain this right, members must agree to Centre’s operating rule..

Coinbase Card Launches in Six European Countries

Leading U.S. cryptocurrency exchange Coinbase has expanded its card service to six European countries. United States-based cryptocurrency exchange and wallet service Coinbase has launched its Visa debit card in six European countries, CNBC reports on June 11. As of today, cardholders in Spain, Germany, France, Italy, Ireland and the Netherlands will be able to use the cards, which sync directly to their Coinbase accounts. The card comes as both a mobile app for iOS or Android, and as a physical card that can be used to withdraw fiat currencies from automatic teller machines. Coinbase’s new offering purportedly allow users to spend cryptocurrencies they hold at any merchant that accepts Visa cards. Users can decide which cryptocurrency they wish to use to make a payment in the app, while Coinbase subsequently converts the crypto to cash, for a fee. Coinbase U.K. CEO Zeeshan Feroz said, “You can buy groceries on bitcoin (BTC) and then coffee on litecoin (LTC) right after.” The card firs..

Coinbase Earn Now Supports Ethereum-Based Dai Stablecoin

Coinbase has added a new unit for Ethereum-based stablecoin dai on Coinbase Earn, the first stablecoin to be included in its educational program. Major crypto platform Coinbase has added a course on MakerDao’s stablecoin dai in its educational portal Coinbase Earn, according to an official blog post by Coinbase on June 10. According to the post, dai is the first stablecoin covered by Coinbase Earn, which will offer videos and quizzes to help users learn about the token, and receive some Dai for their efforts. As summarized in the announcement, the Ethereum-based stablecoin Dai is backed by its sister token maker (MKR) and is balanced around retaining a stable value of $1 over time. Coinbase first announced that they were adding dai to their exchange on May 23. At the time, Coinbase commented that it would be available in most jurisdictions with the exception of New York. As previously reported by Cointelegraph, dai has been worth less than a dollar — lower than its stated goal — for m..

Bitcoin Trading Volume on Coinbase Hits Year High

Bitcoin trading volume on crypto exchange Coinbase recently hit 263,000 in May, a volume which had not been seen since February 4, 2018. Bitcoin (BTC) trading volume on major cryptocurrency exchange Coinbase recently hit a high of 263,000 on May 12, a volume which has not been seen since February 4, 2018. Bitcoin most recently approached this number in November, with a peak of 259,000 on the 18th. Bitcoin 2-year volume chart. Source: Bitcoinity The Bitcoin price was similar between the two peaks at or above 263,000 volume, near $7,710 and $7,950 for May 12 and February 4, 2018 respectively, but these are larger than the similar peak on November 18 when BTC was sitting around $4,410. Bitcoin 2-year price chart. Source: Bitcoinity For volatility, however, there is much more similarity between the spikes in May and November than the high in February. May 12 and November 18 saw volatility ratings of 16.7 and 10.3 respectively, with February 4 volatility clocking in at a whopping 54.7. ..

Coinbase President and COO Departs From the Company

American major cryptocurrency exchange Coinbase’s president and chief operating officer Asiff Hirji has reportedly left the company. American major cryptocurrency exchange Coinbase’s president and chief operating officer (COO) Asiff Hirji has left the company, Bloomberg reported on May 31. A source familiar with the issue told Bloomberg that Coinbase named Emilie Choi, vice president of business, data and international, as its new COO. Prior to the appointment, Choi — who served at Yahoo Inc. and worked on the original Alibaba investment and Flickr acquisition — worked on potential partnerships and acquisitions at Coinbase. Hirji’s previous work experience is marked with over 15 organizations, including IBM Canada, venture capital firm Andreessen Horowitz, information technology company Hewlett-Packard, and Saxo Bank, among others. In recent months, Coinbase has lost several of its senior executives, including Tim Plakas, former head of OTC at Coinbase, who left the company to join cr..

Coinbase Now Supports Cryptocurrency Token EOS

Major cryptocurrency EOS is now being offered on Coinbase for trading and storage. Major United States-based cryptocurrency exchange and wallet service Coinbase has added support for EOS, according to a press release on May 30. The new addition is reportedly available for trading and storage in most areas covered by Coinbase, with the exception of the United Kingdom and New York at press time. The announcement also notes that there are no transaction fees associated with EOS; the cost is instead paid in computing resources, such as a tax on RAM, CPUs, or network bandwidth. Users that run the network also earn EOS by contributing to the computational power needed to run transactions. EOS is one of the largest cryptocurrencies recently added to the exchange — with a market cap of over $8 billion — since Ripple’s token XRP was added in February. Coinbase also recently added support for two more tokens, stablecoins dai and USD Coin (USDC). Earlier in May, Coinbase also expanded its global..
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