Day: April 14, 2021

Coinbase Marks IPO With Memo on Bitcoin Blockchain

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Coinbase has commemorated its public Nasdaq listing by posting a message to the Bitcoin blockchain. Coinbase Refers to Relief Bill Coinbase embedded a message that referred to a New York Times news headline from Mar. 10, 2021 that discussed the U.S. government’s trillion-dollar COVID-19 stimulus plan. The headline reads: “NYTimes 10/Mar/2021 House Gives Final Approval to Biden’s $1.9T Pandemic Relief Bill.” Coinbase asked the mining pool F2Pool to encode the message on block 679,187 of the Bitcoin blockchain, the first block mined after Coinbase was listed on the Nasdaq stock…

Coinbase Hits $103B Valuation in Landmark Public Listing

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Key Takeaways Coinbase’s COIN shares have gone live on NASDAQ. COIN is trading at $395, putting the company’s valuation at $103 billion. The event has been widely celebrated as a groundbreaking moment for the cryptocurrency space. Share this article Coinbase makes history as the first cryptocurrency company to go public.  Coinbase Goes Public in First for Crypto  Coinbase is now live on NASDAQ.  COIN shares were trading at $381 on market open Wednesday, significantly up from the initial $250 reference price NASDAQ set yesterday.  Coinbase filed 261.3 million Common Stock…

Coinbase tokenized shares seem to be in free fall on FTX

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Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes. The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red candles highlighted the selloff, as per a screenshot from Bloomberg podcaster Joe Weisenthal. Coinbase tokenized shares are crashing on FTX https://t.co/PygqsjSpWQ pic.twitter.com/cl8k5hHEPX — Joe Weisenthal (@TheStalwart) April 14, 2021 At the time of writing, tokenized…

VeChain to Consolidate Before Next Major Price Movement

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After a recent poll that deemed VeChain one of the most undervalued altcoins in the market, VET embarked on an uptrend that has seen it make new all-time highs.  VeChain May Slow Down  Salesforce’s decision to start testing enterprise adoption ideas on top of the VeChainThor blockchain has been the catalyst that pushed this cryptocurrency to new horizons.  VET’s market value has risen by nearly 70% since the announcement was made, going from $0.106 to a new all-time high of $0.176.  VeChain’s recent price action seems to have shaped a bull flag on…

FTX Pre-Trading of COIN Sees Violent Repricing Ahead of Coinbase Listing

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Share this article While recent reports expect COIN to open around $349 a share, pre-trading on FTX had pitted the Coinbase stock at $640. A violent repricing has since followed, with the asset falling more than 30% on the crypto trading platform. FTX Users Overestimate COIN After a steady increase in the last few days, COIN/USD on FTX hit its all-time high above $640 a few hours ago. However, reports announcing COIN was expected to open at $349 provoked a drastic drop on FTX. COINBASE GLOBAL CLASS A SHARES INDICATED…

Shapeshift to Pioneer Cross-Chain Trading With THORChain

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Share this article ShapeShift users can now swap Bitcoin, Ethereum, or Litecoin directly across their respective blockchains is now possible for the first time ever. A First From ShapeShift’s DEX Swapping assets between different blockchains have been a much-requested feature of DeFi, which, so far, had not seen much progress. Vitalik Buterin himself tweeted in March 2020 about the necessity to allow users to trade between the two most important blockchains. We should put resources toward a proper (trustless, serverless, maximally Uniswap-like UX) ETH <-> BTC decentralized exchange. It’s embarrassing…

Dogecoin Price Doubles Overnight, Hits New All-Time High

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Key Takeaways Dogecoin’s market value has doubled in the last 36 hours. A further spike in buying pressure could see it rise another 8%. But the presence of whales on the network suggests DOGE could pump even more. Share this article Dogecoin made headlines after skyrocketing by more than 100% to make a new all-time high of $0.146.  Dogecoin Makes New All-Time High  Dogecoin has resumed its uptrend after consolidating for more than two months. Throughout the stagnation period, DOGE made a series of higher lows while the $0.0887 resistance…

Coinbase CEO Details New Revenue Streams Hours Before NASDAQ Listing

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Key Takeaways Brian Armstrong went on Squawk Box to discuss Coinbase’s business model. Investors are wary that the exchange relies too heavily on transaction fees. Armstrong said we will not see lower fees on Coinbase on the short-term. Share this article Brian Armstrong expects Coinbase Earn, its debit card, custody for institutional clients, and staking revenue to become more than half of the firm’s revenue. Coinbase Soothes Investor Worries In 2020, 96% of Coinbase’s revenue was generated through transaction fees. As competition in the space mounts, however, Armstrong’s firm will…

CEO says PayPal’s crypto commerce may reach $200M volume in just months

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As the price of Bitcoin continues to reach new all-time highs, major corporations with existing crypto offerings in place are beginning to discuss grand plans for the future.  Most recently, Dan Schulman, CEO of PayPal, hinted at future developments for PayPal’s crypto offering during Forbes’ “2021 Blockchain 50 Symposium: Crypto Goes Corporate,” an online event that took place on April 13. During a fireside chat with Michael del Castillo, associate editor at Forbes, Schulman mentioned that the financial system will undergo more changes over the next five years compared to…

European Central Bank releases results of digital euro consultation

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The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative.  According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding participation in a public consultation. 47% of total responses came from Germany, with a significant amount also coming from Italy and France, accounting for 15% and 11% of total responses, respectively. The majority of respondents…