Coinbase Custody Extends Crypto Staking to Global Investors

The institutional asset custody arm of United States-based crypto exchange Coinbase has announced it is transitioning to an internationally-based staking service as of Nov. 21. In rolling out its staking services to a global investor base, Coinbase Custody appears to be leveraging its brand recognition to promote staking as a key emergent investment strategy for the blockchain and cryptocurrency space.  The announcement states the custodian intends to offer all of its global clients “appropriate access to crypto first features like staking.” Coinbase Custody has been offering an institution-grade staking service…

IRS Laughs Off Coinbase User’s ‘Surveillance Conspiracy’ in Tax Reporting Case

The United States Internal Revenue Service (IRS) has argued that its summons on major American crypto exchange Coinbase is indeed legitimate in a recent filing. Per a Nov. 15 filing, the U.S. tax agency told a California federal court that its investigation of Coinbase customer William Zietzke is completely legitimate.  Zietzke claims summons was issued outside IRS’s authority Zietzke is attempting to quash the summons issued to Coinbase Inc. in June, which requested that they hand over his financial records pertaining to his 2016 return. Zietzke claimed that the IRS’s…

Coinbase and Coinbase Pro plan to support multi-collateral DAI

On November 18th, Maker will be launching the multi-collateral DAI stablecoin, upgrading their current single-collateral DAI. Multi-collateral DAI introduces changes to the existing DAI stablecoin. In single collateral DAI (the current form of DAI), only Ethereum can be used as collateral when creating DAI. With multi-collateral DAI, both Ethereum and other ERC20 tokens can be used to create DAI, with eligible collateral types voted on by Maker token holders. Coinbase and Coinbase Pro plan to support multi-collateral DAI on December 2nd at 9 AM PST. At that time, we will…

Coinbase Expands Reach of Visa Card in Europe, Adds 5 New Cryptos

Coinbase has added support for five new crypto options to its visa debit card, and also expanded availability to 10 more European nations. The U.S.-based cryptocurrency exchange announced Thursday that holders of the card can now spend XRP, basic attention token (BAT), augur (REP), 0x (ZRX) and stellar (XLM). The new options come in addition to the currently offered bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC). Coinbase customers in Bulgaria, Croatia, Denmark, Hungary, Iceland, Liechtenstein, Norway, Poland, Romania and Sweden have now also been provided access to the…

Coinbase Card Adds XRP and Launches in 10 More European Countries

Coinbase’s Visa debit card has expanded support for five more cryptocurrencies in ten new jurisdictions, the firm announced in two separate tweets on Nov. 14. Launched in April 2019, Coinbase Card now supports a total of nine cryptocurrencies in 29 countries in Europe. The Coinbase Card’s new supported cryptos include XRP, Stellar (XLM), Basic Attention Token (BAT), 0x (ZRX) and Augur (REP), enabling users to spend using the listed currencies. The five coins join other major supported cryptocurrencies like Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Coinbase…

Uncork Capital, Coinbase VC Arm, Others Invest $4 M in Crypto Analytics Firm Messari

Uncork Capital has led a $4 million funding round that also saw funding from Coinbase Ventures for blockchain analytics firm Messari. Who’s who of new investors On Nov. 13, Messari announced that it had closed a $4 million funding round led by Uncork Capital, with participation from other top investors including Coinbase Ventures, Anthemis Group, Blockchain Capital, CoinFund, and former Coinbase CTO Balaji Srinivasan. The data analytics firm intends to invest the raised funds into further automating its data ingestion process and its redistribution capabilities for registry clients, while broadening…

Intro to Smart Contracts – The Coinbase Blog

All of that brings us to our post today, where we will study a simple example of a decentralized app, or dapp, and you will implement it yourself on your local machine. Dapps are applications written using languages such as JavaScript, HTML, and CSS, leveraging smart contracts on the backend to display and change information. They are an important part of a movement from centralized Web2 architectures to a decentralized Web3 architecture. This post will take you through writing a smart contract to programming a non-fungible token contract in Solidity,…

How Coinbase views proof of work security

Coinbase recently changed the confirmation requirement of four different assets, including reducing Bitcoin confirmation requirement from six confirmations to three. This post describes our views concerning proof of work security that informed our decision to make these changes. By Mark Nesbitt, Security Engineer All cryptocurrencies define a state of ownership within the currency network. In order for a cryptocurrency to be usable, there must be a way of updating this state of ownership. In most existing cryptocurrencies, the state of ownership is defined by a canonical history of all transactions…

Announcing new confirmation requirements – The Coinbase Blog

Coinbase is changing the number of confirmation requirements we require for four assets on the platform. We expect this change to both improve customer experience and security posture. We changed the confirmation requirements for Bitcoin, Litecoin, Zcash, and Ethereum Classic. The table below shows the changes: The confirmation requirements for several of these currencies were determined over a year ago. At this time, we did not have a consistent approach that informed each currency’s requirement. This resulted in a situation where some assets may have had an overly conservative confirmation…

Coinbase Will Now Reward Users for Holding This Cryptocurrency

Coinbase is for the first time allowing general users to earn rewards by simply holding cryptocurrency, starting with the Tezos (XTZ) token. In a company blog Wednesday, Coinbase said U.S. customers (bar residents of Hawaii and New York) can now stake the smart contract platform’s crypto with an estimated five percent annual return. Tezos uses an alternative consensus mechanism to proof-of-work mining – a system built into the largest cryptocurrency by market cap, bitcoin. Called proof-of-stake, the alternative mechanism rewards network users for holding onto its coins and thereby helping protect…