Coinbase, one of the leading cryptocurrency exchanges, has recently published its shareholder letter for the third quarter of 2023. This article aims to critically analyze the key highlights and financial performance discussed in the letter. Financial Performance In Q3 2023, Coinbase reported a total revenue of $674 million, representing a 5% decrease from the previous
Exchanges
Coinbase, one of the leading cryptocurrency exchanges, has announced that its retail U.S. traders will now be able to trade crypto futures. This new development comes from its subsidiary, Coinbase Financial Markets. The exchange has stated that advanced users on its platform will have the opportunity to trade the monetary value of 1/100 Bitcoin and
Blockchain analytics firm Nansen recently revealed that bankrupt FTX has transferred $156 million worth of digital assets in a series of transactions. One significant movement involved FTX unstaking 1.6 million Solana (SOL) tokens, valued at approximately $57.6 million, on October 30. Although the unstaked assets are currently held in the staking wallet, FTX’s fund movement
In a recent criminal case, Sam Bankman-Fried, the co-founder and former CEO of FTX, provided testimony that shed light on the origins and eventual collapse of FTX and its sister firm, Alameda Research. Bankman-Fried revealed that he launched Alameda because of the growing popularity of cryptocurrency, despite having limited knowledge about it. He admitted that
In a recent court filing, Coinbase, the leading cryptocurrency exchange, launched a scathing attack on the U.S. Securities and Exchange Commission (SEC), accusing the regulatory body of exceeding its powers. The exchange argued that the SEC’s classification of crypto assets as securities goes beyond its jurisdiction and claimed that the agency is attempting to redefine
Binance, one of the leading cryptocurrency exchanges, has been facing legal action by the Commodity Futures Trading Commission (CFTC) regarding alleged illegal trading activities. However, despite these challenges, the exchange’s derivatives trading volume has remained strong during U.S. trading hours. This article explores the resilience of Binance and its ability to maintain a significant share
Recently, the crypto community has been up in arms over a controversial article published by The Wall Street Journal (WSJ) regarding Hamas and its alleged acquisition of $90 million in cryptocurrency for financing a surprise attack on Israel. The article has sparked widespread debate and criticism, with many accusing WSJ of publishing misleading information. In
Cryptocurrency exchange Coinbase has made a significant step in its international expansion efforts by selecting Ireland as the location for its European MiCA (Markets in Crypto-Assets) hub. This move comes following the adoption of MiCA by EU policymakers, which is seen as a pivotal moment for the cryptocurrency industry in the region. Coinbase aims to
Binance, the largest cryptocurrency exchange by trading volume, is facing a significant setback as it endures over $1 billion of net outflows in the past 24 hours, according to DeFillama CEX’s transparency dashboard. This substantial outflow comes in the wake of yet another top executive leaving the company, further adding to the challenges faced by
Recent events, particularly the actions of Palestine’s Hamas group, have once again raised concerns about the role of cryptocurrency in terrorism financing. In response to these claims, U.S. cryptocurrency exchange Coinbase published a blog post highlighting the fact that the “overwhelming majority of terrorist funding still relies on traditional financial systems, like cash.” While it
