Exchanges
Coinbase to halt operation in Japan
The exchange said leaving Japan is part of its restructuring process that will help it weather the bear market.
Coinbase
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Bear Market
Coinbase lays off 950 employees
Coinbase's CEO Brian Armstrong said that the layoffs will provide the company with operational efficiency to weather the bear market. Coinbase's shares were up almost 3% premarket after the announcement.
Exchanges
Coinbase CEO Brian Armstrong calls for regulation of crypto industry
Coinbase CEO Brian Armstrong called for a level playing field between local and foreign firms operating within the crypto space.
Analysis
Crypto stocks plunge to record lows, GBTC at 50% discount despite Bitcoin uptick
According to CryptoSlate data, BTC is up 2.2% in the last 24 hours while COIN hits all-time low, GBTC falls to 50% discount, mining stocks capitulate
Wallets
Coinbase Wallet says Apple requested 30% of all NFT transfer gas fees
Coinbase Wallet wrote that Apple's request was "clearly not possible," adding that "Apple’s proprietary In-App Purchase system does not support crypto."
Exchanges
Binance re-enters Japan, controls over 75% of exchanges’ monthly trading volume
Binance now controls over 75% of exchnages' monthly trading volume, according to available data.
Wallets
Coinbase wallet drops support for XRP, Bitcoin Cash, Ethereum Classic and XLM
Coinbase Wallet is stopping support for Ripple's XRP, Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM).
Exchanges
Coinbase, Kraken down as Bitcoin breaks below June low
Coinbase and Kraken have been experiencing connectivity issues as FTT's slump dragged Bitcoin below its June lows of $18,000.
Legal
Coinbase argues SEC’s XRP lawsuit caused $15B in losses for retail traders
According to the exchange, the SEC action forced U.S.-based exchanges to delist XRP, causing retail customers significant losses as the coin's market cap declined.
Trading
Coinbase denies The Wall Street Journal’s proprietary trading allegations
Wall Street Journal reported that Coinbase created a trading group that used $100 million of its funds to trade cryptocurrencies.
Censorship
Coinbase finances Tornado Cash users’ lawsuit against US Treasury Department
The plaintiffs argued that the authorities overstepped their authority and also violated their rights.
DAOs
Coinbase submits proposal that could earn MakerDAO $24M annually
Some MakerDAO members argued that the proposal could affect the protocol’s decentralization and add another layer of regulatory attack.