Coinbase saw a whopping 117% quarter-over-quarter increase in monthly transacting users, the firm revealed Tuesday in its voluntary earnings report. All those users helped Coinbase rake in $1.8 billion over the quarter, driving a net income of approximately $730 million to $800 million, according to a new filing that comes ahead of the company’s Nasdaq listing next week. All the numbers point to a business riding high as interest in cryptocurrency tracks upward with the price of bitcoin (BTC, -1.84%), ether (ETH, -1.92%) and other leading assets.
Know1tAll
January 28, 2021
Major spikes in volume at Coinbase Pro had accompanied price volatility in recent weeks. Previously, it was chasing up the price of BTC. This time, selling pressure was observed as a dip in the so-called “Coinbase Premium” happened. The “Coinbase Premium” measures the price difference between the BTC/USD pair at the professional trading arm against other exchanges. The premium in price suddenly became negative during the selloff, suggesting that whales on Coinbase were leading the selloff.
Know1tAll
January 21, 2021
The latest move, which brings Bitcoin down over 13% versus its highs from Tuesday, came amid increased selling at Coinbase Pro, the professional trading arm of United States cryptocurrency exchange Coinbase. As Cointelegraph reported, major spikes in volume at Coinbase Pro had accompanied price volatility in recent weeks. This time, it was a dip in the so-called “Coinbase Premium” which signalled selling was underway - the difference in price between the BTC/USD pair at the venue and others suddenly decreased. It seems $BTC sellers came from Coinbase. Coinbase Premium Index has been a negative value since an hour ago. Coinbase whales might want $BTC to go lower for consolidation. A day earlier, Ki had highlighted a corresponding increase in deposits across exchanges from whales, indicating a potential desire to trade or sell BTC at prices at or below the mid-range of its trading corridor between $30,000 and $40,000.
AlwaysInGreen
December 31, 2020
In California, they filed a lawsuit against the crypto exchange Coinbase, which is accused of collecting commissions from the illegal sale of XRP. The plaintiff claims that the trading platform was aware that, under federal law, XRP is not an exchange commodity, but a security, but decided to provide access to the token to its customers and charge commissions from them.
Know1tAll
December 29, 2020
Major cryptocurrency exchange Coinbase will suspend trading for XRP in response to the United States Securities and Exchange Commission taking legal action against Ripple. According to a blog post published today by Coinbase chief legal officer Paul Grewal, the exchange will fully suspend XRP trading starting on Jan. 19 at 10:00 am PST. Coinbase clarified that “trading may be halted earlier as needed” to maintain the exchange’s market health metrics. In addition, the suspension will reportedly not affect Ripple-backed Flare Network’s upcoming Spark (FLR) token airdrop. The U.S.-based exchange is the largest so far to take a position on XRP following the Dec. 22 announcement that the SEC will charge Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen with conducting an “unregistered, ongoing digital asset securities offering.”
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