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| January 21, 2019

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Coinbase Suspends Ethereum Classic Following 51 Percent Attack

January 8, 2019 |

Coinbase has ceased interactions with the Ethereum Classic (ETC) blockchain after the exchange detected a 51 percent attack on the network. Following the discovery of a “deep chain reorganization” of the ETC blockchain, Coinbase suspended Ethereum Classic withdrawals and deposits.

Also Read: Major Mining Pools Have a ‘High Die-Off Rate’ Study Reveals

Coinbase Stops Interacting With ETC Blockchain After Deep Chain Reorganization

Coinbase Suspends Ethereum Classic Following 51 Percent AttackCoinbase has published a blog post titled “Ethereum Classic ETC is Currently Being 51% Attacked” detailing a malicious attack on the ETC network.

The post states that on Jan. 5, 2019, Coinbase detected “a deep chain reorganization of the Ethereum Classic blockchain that included a double spend.” In order to safeguard customer funds, the exchange “immediately paused interactions with the ETC blockchain.” The exchange was alerted to the attack by its automated systems, after which the company’s on-call engineers responded and worked to confirm the report.

Coinbase chose not to publicly post analysis pertaining to the attack earlier in order to avoid creating a “false alarm” that could have created premature or unnecessary market instability. The company also notes that traders who attempted to send or receive ETC using Coinbase’s platforms were unable to complete said transactions as a result of the response.

Coinbase Yet to Re-Enable ETC Transactions

Coinbase Suspends Ethereum Classic Following 51 Percent AttackSince the incident, Coinbase claims to have detected “12 additional reorganizations that included double spends,” totaling 219,500 ETC valued at approximately $ 1.1 million.

The exchange notes that “a full blockchain analysis is beyond the scope” of its blog post, adding that further examination into “the addresses sending the double spend transactions, the history of sends/receives from the addresses, the block fields such as timestamp, and the subsequent movement of miner rewards from attack blocks may shed light on the threat actor or actors behind these attacks.”

Coinbase is currently assessing the “safety” of re-enabling ETC transactions and will communicate with customers regarding updates to the exchange’s support for Ethereum Classic. The post asserts that “Coinbase was not the target of this double spend and no funds were lost.”

What is your response to the recently increased prevalence of 51 percent attacks targeting altcoins? Post your thoughts in the comments section below!


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At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Coinbase Suspends Ethereum Classic Following 51 Percent Attack appeared first on Bitcoin News.

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Coinbase and Its Troubling History of Customer Account Closures

January 6, 2019 |

Coinbase and Its Troubling History of Customer Account Closures

Coinbase is hailed as a paragon of the cryptocurrency industry, its CEO’s every utterance amplified and its every coin listing over-analyzed. Lauded for introducing millions of people to cryptocurrency, Coinbase is regarded as a net good for the crypto space. But there’s a less savory side to the San Francisco exchange that’s seen prominent customers have their accounts frozen without warning.

Also read: Four Cryptocurrency Hotspots That Saw Tremendous Growth in 2018

The Crypto Community’s Love-Hate Relationship With Coinbase

Coinbase and Its Troubling History of Customer Account ClosuresWith 2018 revenues forecasted at over $ 1 billion and a string of high profile acquisitions to its name, Coinbase is a veritable success story. It is to cryptocurrency what Apple is to phones or Google to search. The exchange, which generated $ 923 million in revenue in 2017 and $ 380 million in profit, has done more to advance cryptocurrency adoption than arguably any other, and has no shortage of cheerleaders. It is of course impossible to reach the level that the California-based company has without ruffling a few feathers, and Coinbase certainly has its share of dissenters.

The grievances the crypto community has leveled against Coinbase range from favoring Ethereum over Bitcoin to being too cozy with regulators. One charge in particular has caused consternation among cryptocurrency users, to whom censorship resistance is a mantra and not just a meme. It is alleged that Coinbase is more proactive than any other major exchange in freezing customer accounts – even when there is no evidence that the individuals have done anything wrong. A number of high-profile victims of Coinbase’s account suspension process have raised awareness of this trend.

The Case Against Coinbase

Coinbase and Its Troubling History of Customer Account ClosuresThe list of public figures whose accounts Coinbase is known to have suspended is not extensive. Nevertheless, there is enough evidence to suggest that, at the very least, the exchange may be overzealous in policing its own platform, perhaps in a bid to appease the regulators and lawmakers it is on first-name terms with. In April 2018, the exchange suspended the account of Wikileaks over alleged violations of its terms of service. In response, Wikileaks called for a “global blockade of Coinbase” because it was “an unfit member of the crypto community.”

There is a particular irony in Wikileaks’ suspension since the whistle-blowing site’s adoption of bitcoin in response to a blockade by Visa and Mastercard was pivotal in spotlighting the nascent cryptocurrency in 2010. At the time, Satoshi famously remarked “Wikileaks has  kicked the hornet’s nest, and the swarm is headed towards us” before going dark days later. His online presence has never been seen since. Nine months on from Coinbase suspending Wikileaks and the exchange is in the news again, this time for suspending Gab.

Free speech network Gab.com has the dubious honor of being frozen out by Coinbase for the second time in a matter of months. Gab’s pro-bitcoin stance has ramped up considerably since fiat payment processors cut off service to the social network. Coinbase’s decision to freeze the accounts of Gab and CEO Andrew Torba, described by Jordan Peterson as “an unpopular move in the crypto community,” has not dampened Gab’s enthusiasm for bitcoin. It has, however, illustrated that even in the cryptocurrency arena, censorship is still possible.

Coinbase Is Not the Only Culprit

Coinbase and Its Troubling History of Customer Account Closures
Gab.com’s Andrew Torba

Coinbase is by no means the only major platform with a penchant for freezing customer accounts. Exchanges such as Binance and Bittrex have faced similar criticism for reasons that include upholding U.S. sanctions against Iran and suspending accounts linked to illegal darknet market activity. Bitcoin payment processor Bitpay has also suspended Gab, among other customers, and been strongly rebuked by members of the crypto community for doing so.

Exchanges are entitled to maintain or suspend the accounts of any of their customers, famous or otherwise. That’s their prerogative, just as it’s Twitter’s to decide who gets to use its platform. Once a platform develops a reputation for censorship, however, it alienates a tranche of the cryptocurrency community, and sends out a warning to future customers that they are taking on additional risk in signing up. The Free Ross campaign had its account briefly suspended by Coinbase in 2017, and while the matter was eventually chalked up to the work of an “automated security feature,” it garnered headlines given that Ross Ulbricht’s prosecutor, Kathryn Haun, serves on Coinbase’s board of directors.

In that particular case, there seems to have been nothing untoward in the fleeting account suspension. Given the need for U.S. exchanges to lobby and liaise with U.S. regulators, however, concerns persist that preemptive account closures will become a hallmark of cautious operators that fear falling foul of the law and the lawmakers they have spent so much time and money aligning with. As Gab.com has learned, the only way to prevent such mishaps is through self-custody of cryptocurrency and self-hosting of servers to process payments using censorship-averse companies such as Btcpay.

Do you think Coinbase is overly eager to suspend customer accounts, or is it simply doing its duty to enforce its terms of service? Let us know in the comments section below.


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Need to calculate your bitcoin holdings? Check our tools section.

The post Coinbase and Its Troubling History of Customer Account Closures appeared first on Bitcoin News.

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Chatter Report: Sechet Claims Cashaccount a Potential ‘Privacy Disaster’, Voorhees Defends Coinbase

January 4, 2019 |

Sechet Claims Cashaccount a Potential Privacy Disaster, Voorhees Defends Coinbase

In today’s roundup of crypto chatter, Jonathan Silverblood responds to Amaury Sechet’s privacy concerns with Cashaccount. Erik Voorhees defends Brian Armstrong from criticism on the latter’s 10 year Bitcoin anniversary tweets. Also, Nikita Zhavoronkov congratulates Bitcoin for creating 1 billion outputs on the BTC blockchain.

Also read: The Cashaccount.info Platform Tethers Names to Bitcoin Cash Addresses  

Amaury Sechet’s Privacy Concerns With Cashaccount

Bitcoin ABC lead developer Amaury Sechet took to Twitter recently, proclaiming that the new BCH-powered alias-address system Cashaccount will be a privacy disaster. Surprisingly, Cashaccount creator Jonathan Silverblood agreed with Sechet, as the founder believes his project will lead to more BCH users reusing Bitcoin addresses. This would be bad for privacy, as reused addresses can be used to discover financial information that users may not wish to disclose.

To resolve the potential lack of privacy, Silverblood asked Sechet to collaborate with Openbazaar developer Chris Pacia on stealth keys, or to assist with the development of BIP-47.

However, other commentators like Crypto Pelé were not as concerned with a lack of privacy. Pelé pointed out that some BCH users are fine with the transparency that comes with reusing addresses.

Erik Voorhees Defends Brian Armstrong From Criticism

To commemorate Bitcoin’s 10th year anniversary of the Genesis Block, Coinbase CEO Brian Armstrong posted a series of tweets reminiscing how he first got into bitcoin.

In the thread, Armstrong recounts reading the Bitcoin white paper in 2010 and becoming obsessed about Bitcoin for the subsequent 6 months. He began building a bitcoin wallet for Android devices as a side project, but then pivoted to a hosted wallet and a custom Bitcoin node. After securing funding from Ycombinator, Armstrong started working on his business idea full time and settled on the company name Coinbase. He then ended the tweet-storm on a positive note, boldly proclaiming that he has “never had more conviction” on the future of cryptocurrencies.

Not everyone responded positively to Armstrong’s tweets. Commentator Simon Moon called Armstrong out for being a fake libertarian, arguing that Coinbase is a government-backed monopoly.

Shapeshift CEO Erik Voorhees quickly stepped in to defend Coinbase’s CEO. Voorhees pointed out that regulation was not Coinbase’s fault and that Coinbase has helped introduce millions of people to cryptocurrency.

1 Billion Outputs on the BTC Blockchain

Blockchair lead developer Nikita Zhavoronkov also took to social media to wish Bitcoin a happy 10th birthday. While many congratulated Bitcoin on it’s Genesis Block, Zhavoronkov took the opportunity to congratulate Bitcoin for creating 1 billion outputs on the BTC blockchain.

What do you think of privacy issues surrounding the Cashaccount’s identification system? Let us know in the comments below.


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Need to know the price of bitcoin? Check this chart.

The post Chatter Report: Sechet Claims Cashaccount a Potential ‘Privacy Disaster’, Voorhees Defends Coinbase appeared first on Bitcoin News.

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Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

December 26, 2018 |

Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts

Wealthfront, one of the largest independent robo-advisers in the U.S. market, has added support for Coinbase accounts. The Wealthfront team explained that high customer demand was the reason for incorporating the new feature, stating: “We’re especially excited because this has been one of our clients’ most requested features.”

Also Read: Bitcoin Private (BTCP) Bug Exploited by ‘Bad Actor’

Wealthfront Adds Coinbase Support

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsWealthfront Advisers LLC (formerly known as Wealthfront Inc.) is a Redwood City, California-based robo-adviser providing automated, software-based portfolio management services, which was established in 2008. The company has recently announced that its users can now track holdings of cryptocurrency for the first time by connecting their accounts with the Coinbase exchange to the automated investment service.

“You have always been able to connect a wide variety of account types and asset classes to our Path advice engine — from bank and brokerage accounts to real estate, mortgages, and student loans. But we know many of you like to dabble in other innovative financial products, like cryptocurrencies. So now, we make it possible for you to add information about your cryptocurrency holdings in your Coinbase account to Wealthfront to get a more holistic view of your financial picture. And even more importantly, we factor that information into your free financial plan,” the Wealthfront team stated.

Over $ 11 Billion in Managed Assets

Investment Robo-Adviser Wealthfront Adds Support for Coinbase AccountsThe Wealthfront robo-adviser has over $ 11 billion in client assets under management, according to the U.S. Securities and Exchange Commission (SEC), making it one of the largest independent robo-advisers in the U.S. market. The company has reportedly raised a total funding of $ 65.5 million since its creation, from backers such as Benchmark Capital, DAG Ventures, Index Ventures, Ribbit Capital, Benchmark Capital, Marc Andreessen, Ben Horowitz and Jeff Jordan.

On Friday, the SEC announced it had found that Wealthfront made false statements about a tax-loss harvesting strategy it offered to clients, claiming to monitor accounts for transactions that might trigger a wash sale, but failed to do so. It also found that Wealthfront “improperly re-tweeted prohibited client testimonials, paid bloggers for client referrals without the required disclosure and documentation, and failed to maintain a compliance program reasonably designed to prevent violations of the securities laws.” Without admitting or denying the SEC’s findings, the company agreed to pay a $ 250,000 penalty.

Have you integrated your Coinbase account with Wealthfront? Share your experience in the comments section below.


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Investment Robo-Adviser Wealthfront Adds Support for Coinbase Accounts appeared first on Bitcoin News.

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The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging Service

December 20, 2018 |

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging Service

In today’s edition of The Daily we feature a number of recent developments by popular cryptocurrency exchanges. These include an educational platform by Coinbase, a communication tool for OTC traders from Okex, an important ticker update by Coinex, and an investment by ZB.com.

Also Read: Atari Partners Decentralized Gaming Company, Tagomi Goes Live

Learn and Earn

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging ServiceCoinbase has announced a new initiative meant to incentive people to learn more about cryptocurrencies. The Coinbase Earn educational platform will reward users with tokens for completing various tasks such as watching videos and taking quizzes on crypto-related content.

The service has launched in invite-only mode with just a single asset for now, but Coinbase promises that over time it will add more options. Users who received an invite by email can already go to the ZRX page to earn small amounts of cryptocurrency. Anyone else can view the educational content on the page for free, as well as sign up to a waiting list to be notified as more educational tasks are available.

“We think Coinbase Earn could help open up blockchain access to a new group of users: people who are curious about digital assets, but who’d like to try them out for free just like a normal web or mobile app. By serving that need, we hope to make blockchain more accessible in the process,” the team commented. The exchange also revealed that for the first set of tasks, funding is unsurprisingly coming from the 0x external development pool.

Okex Messenger

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging ServiceOkex, the Malta-based cryptocurrency exchange supporting fiat currencies such as Vietnamese Dong and Chinese Yuan, has announced it’s launched an instant messaging service. Developed for its over-the-counter trading (OTC) platform, the new feature allows users to establish direct communications between buyers and sellers.

The instant messaging service allows traders to send and receive messages in real-time with their counter-party on Okex’s website and mobile applications. The apps are available for both the iOS and Android operating systems, and the developers say that by enabling push notifications, traders will be alerted immediately through their mobile devices once they receive any updates.

Coinex Updates BSV Ticker

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging ServiceHong Kong-based cryptocurrency exchange Coinex has changed its Bitcoin SV ticker from “BCHSV” to “BSV”, announcing that from now on “BCHSV” will no longer represent the Bitcoin SV token on the platform. Founded in December 2017, the company counts mining giant Bitmain among its investors.

With this move, the exchange reaffirms that it expects users to understand that BSV is no longer related to Bitcoin Cash (BCH) in any way following the recent hard fork. Coinex was among the very first exchanges that opened withdrawals for both BCH and BSV following the fork, providing an easy way for holders to split the two cryptocurrencies.

ZB.com Partners Gaming Project

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging ServiceHong Kong-headquartered cryptocurrency exchange ZB.com has recently announced an expansion into the European Union with the launch of the Malta-regulated ZBX.com. To make a concerted effort to attract new Western users, the company has announced it is investing into select crypto projects, the first being Clovr.

Founded by a team of executives and developers with experience from King.com, Uber and Y Combinator, Clovr has developed an esports token to tap the market of 3.5 million real-money players engaged with licensed online casinos.

“We believe there is a large upside for projects with access to sizeable daily active user bases,” noted ZB.com co-founder Jimmy Zhao. “User adoption is crucial to the long-term value creation of cryptocurrencies. We think CLOVR could be the most used crypto of 2019 since their tokens can be purchased by an existing large and engaged esports and iGaming online user base.”

Ledger Adopts Crypto.com Pay

The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging ServiceLedger, the Paris-headquartered hardware wallet manufacturer, has announced the signing of a deal to adopt a new cryptocurrency payment solution, Crypto.com Pay. Once the service is implemented onto Ledger’s online store, customers will have the option to purchase products at checkout by opening the Crypto.com wallet and card app, scanning a QR code, and selecting the desired cryptocurrency to be spent.

Éric Larchevêque, CEO of Ledger, said: “Our customers understand the everyday utility of cryptocurrency, and as a leading cryptocurrency asset hardware wallet provider, it is a natural step for us to provide a cryptocurrency payment option. We support what Crypto.com is doing to lead the industry forward with its vision of cryptocurrency in every wallet. We feel this payment option is just what our customers are seeking.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Coinbase to Pay Users for Learning, Okex Launches Instant Messaging Service appeared first on Bitcoin News.

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Will Coinbase Hit Its 2018 Target of $1.3 Billion in Revenue?

December 15, 2018 |

The current crypto bear market is dragging on, with billions in cryptocurrency wealth wiped out in 2018. The trading volume of six year-old Coinbase has hit a yearly low. Despite the crypto winter, the company is continuing to raise funds and has reached an impressive valuation of $ 8 billion. But is this figure justified and will Coinbase meet the $ 1.3 billion in revenue it’s projected for 2018?

Also read: Coinbase Opens the Door to More than 30 Cryptocurrencies

Six-Year-Old Startup in an Uncertain Industry

Will Coinbase Hit Its 2018 Target of $  1.3 Billion in Revenue?In 2017, Coinbase generated $ 923 million in revenue and $ 380 million in profit. In 2018, the San Fransisco-based exchange is projected to bring in a total of $ 1.3 billion in revenue and $ 456 million in profits, according to a recent Bloomberg report, citing a document it reviewed. 

Coinbase is expected to have generated just $ 600 million in revenue by the end of Q3 2018. With the current bear market and upcoming Q4 financials approaching, is this target really possible?

The first question to consider is how Coinbase makes its money. Revenue is generated through fees, commissions on trades and returns from its own cryptocurrency holdings. Compared to 2017, trading in 2018 has continued to decline.

The number of Coinbase users has seen a significant drop according to recent data from DiarIn Q3 2018, Coinbase’s BTC volumes increased to $ 5.4 billion compared to $ 4.6 billion in 2017 for the same period. ETH, on the other hand, has nearly halved, falling to $ 2.8 billion in Q3 of this year compared to $ 5.2 billion in Q3 2017. In Q3 2018, LTC volumes were also down at $ 1 billion compared to $ 2.6 billion for the same period last year. In Q3 of 2018, BCH volume on Coinbase stood at $ 875.4 million.

Will Coinbase Hit Its 2018 Target of $  1.3 Billion in Revenue?

The California-based exchange has increased staff and other outgoings by adding products for larger institutional clients.  The latest major new hires include Chris Dodds, who has joined Coinbase’s board of directors and also serves on the board of Charles Schwab, and Jonathan Kellner who joined as a managing director of its institutional group. Will these new hires pay off?

In the first eight months of 2018, Coinbase also acquired Distributed Systems, a San Francisco-based digital identity startup, for an undisclosed amount.

Further Investment Funding Rumored

There are reports that Coinbase is in talks with Tiger Global Investment with a view to obtaining an investment of up to $ 500 million, reported by Recode. Coinbase has also denied rumors that it will launch an IPO any time soon. This week, Coinbase announced that its customers in the U.S. can now make withdrawals via Paypal. This move will allow customers to convert their cryptocurrency holdings to cash without incurring any withdrawal fee.

Coinbase CEO Brian Armstrong frequently blogs about expansion plans and updates the cryptocurrency community on major accomplishments. He recently wrote: “Our business is cyclical, and it’s crucial that we continue pushing hard to ship new features, fix what’s not working, and make the customer experience better, whether the crypto market is on fire or in a slower part of the cycle. We did that well this quarter, and in Q4, we’ll need to double down — and stay humble, scrappy, and focused — to do even more.”

Is Coinbase being too ambitious with its 2018 revenue target? Let us know in the comments section below.


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Need to calculate your bitcoin holdings? Check our tools section.

The post Will Coinbase Hit Its 2018 Target of $ 1.3 Billion in Revenue? appeared first on Bitcoin News.

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The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain Talent

December 11, 2018 |

The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain Talent

In Tuesday’s edition of The Daily we cover stories about an electronic gift card program that Coinbase is extending to the U.S. market, new job offerings from Facebook that hint at the company’s blockchain plans, and an investment in the field from Unicef.

Also Read: US Law Professor: Confusing Cryptocurrency Regulations Will Hamper Innovation

Coinbase Extends Wegift Partnership to the US

The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain TalentCoinbase has announced that its trading platform now offers e-gift cards for its customers in the U.S. This means that American users will be able to instantly spend their cryptocurrency balances from the exchange with dozens of new retailers. The development has been achieved by expanding its partnership with the London-based startup Wegift, which supports many well-known brands such as Nike, Tesco, Uber, Google Play, Ticketmaster and Zalando.

Coinbase informed its users that purchasing e-gift cards incurs no withdrawal fees and that bonuses of up to 10 percent make it “smoother than ever to use crypto. Now, you’re just a few clicks away from spending your balance on e-gifts cards for Adidas shoes or your next vacation. Better yet, use some on the holidays — you’re just in time.”

Facebook to Develop Equitable Financial Services?

At the start of 2018, Facebook founder Mark Zuckerberg set a goal for himself to take back power from centralized systems using “encryption and cryptocurrency.” While the year is nearly over and this resolution remains unfulfilled, his company appears to still be focused on the subject. Recently surfaced ads show that Facebook is looking for data scientists and software engineers to help develop new blockchain solutions, possibly including financial services.

The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain Talent

The company explains to potential candidates that: “At Facebook, we have established a new team building blockchain technologies. It’s a small, fast-growing, but talented group of people who are passionate about changing the world. Our leadership is experienced and are some of the best people working today in their respective fields.”

“The blockchain team is a startup within Facebook, with a vision to make blockchain technology work at Facebook scale. We’re exploring areas of interest across all facets of blockchain technology. Our ultimate goal is to help billions of people with access to things they don’t have now – that could be things like equitable financial services, new ways to save, or new ways to share information.”

Unicef Invests in Six Blockchain Startups

The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain TalentThe United Nations Children’s Fund (Unicef) has announced that it will provide backing to six blockchain startups from emerging economies trying to solve global challenges using the technology. The Unicef Innovation Fund will invest up to $ 100,000 in Atix Labs from Argentina, Onesmart and Prescrypto from Mexico, India’s Statwig, Utopixar from Tunisia and W3 Engineers from Bangladesh. The financial support is meant to help the companies deliver open-source prototypes of blockchain applications within 12 months.

“Blockchain technology is still at an early stage — and there is a great deal of experimentation, failure, and learning ahead of us as we see how, and where, we can use this technology to create a better world,” said Chris Fabian, Principal Adviser at the fund. “That’s exactly the stage when UNICEF Innovation Fund invests: when our financing, technical support, and focus on vulnerable populations can help a technology grow and mature in the most fair and equitable way possible.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: Coinbase Expands Gift Card Program, Facebook Seeks Blockchain Talent appeared first on Bitcoin News.

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Coinbase Opens the Door to More Than 30 New Cryptocurrencies

December 8, 2018 |

Coinbase has announced that it plans to list over 30 cryptocurrencies, with many more to follow. In its largest listing spree to date, the California-based exchange will add dozens of cryptocurrencies in the coming months, including dai, mana and neo. Moving forward, Coinbase ultimately plans to add over 90 percent of “all compliant digital assets.”

Also read: SEC to Decide Fate of Vaneck Solidx Bitcoin ETF by Late February

Coinbase Embarks on a Listing Blitz

Coinbase Opens the Door to More Than 30 New CryptocurrenciesOn Dec. 7, Coinbase shared an ambitious plan to list scores of digital assets. The eight cryptocurrencies it currently supports, BCH, BTC, ETH, LTC, ETC, ZRX, ZEC, and BAT, will soon be complemented by over 30 more. A company blog post explained: “Coinbase’s goal is to offer support for all assets that meet our standards and are fully compliant with local law. Over time, we intend to offer our customers access to greater than 90% of all compliant digital assets by market cap.”

While focused on ERC20 tokens, the listing blitz will also include assets operating on other networks such as NEO and XRP. Ripple’s native cryptocurrency had long been a source of speculation, with both the company and its token-holders eager for XRP to be added to the dominant U.S. exchange. While their wish will now come true, ripple will have to share the limelight with many other tokens scheduled to be added around the same time.

Coinbase to Compete With Token-Rich Exchanges Such as Binance

Coinbase Opens the Door to More Than 30 New CryptocurrenciesOne of the main drivers behind Coinbase’s aggressive listing policy will be the desire to claim a slice of the trading volume being absorbed by token-rich exchanges such as Binance, which operates 393 markets. Okex has 415 and Huobi 290 trading pairs. Coinbase made record profits last year, but its financials for 2018 will show a major drop in revenue as market conditions have reduced the appetite among retail investors for cryptocurrencies such as BTC, ETH, and BCH.

The full list of cryptocurrencies Coinbase has shortlisted for addition comprises cardano (ADA), aeternity (AE), aragon (ANT), bread (BRD), civic (CVC), dai (DAI), district0x (DNT), enjincoin (ENJ), EOS (EOS), golem network (GNT), iost (IOST), kin (KIN), kyber network (KNC), chainlink (LINK), loom network (LOOM), loopring (LRC), decentraland (MANA), mainframe (MFT), maker (MKR), NEO (NEO), omisego (OMG), poet (POE), quarkchain (QKC), augur (REP), request network (REQ), status (SNT), storj (STORJ), stellar (XLM), ripple (XRP), tezos (XTZ), and zilliqa (ZIL).

Coinbase Opens the Door to More Than 30 New Cryptocurrencies

“Some of these assets may become available everywhere, while others may only be supported in specific jurisdictions,” concluded the blog post. Coinbase Pro has since announced that it will begin accepting deposits for civic, district0x, loom, and mana ahead of trading commencing.

What are your thoughts on the 30 cryptocurrencies Coinbase intends to list? Let us know in the comments section below.


Images courtesy of Shutterstock and Coinbase.


Need to calculate your bitcoin holdings? Check our tools section.

The post Coinbase Opens the Door to More Than 30 New Cryptocurrencies appeared first on Bitcoin News.

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The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets

December 7, 2018 |

The Daily: Coinbase Adds Paypal for Withdrawals, Gazprombank to Manage Crypto Assets

In this edition of The Daily, Coinbase customers in certain regions can now link their Paypal accounts to withdraw fiat and sell cryptocurrencies. Also, Russia’s third-largest bank is working to launch a digital asset management service in Switzerland, and Koinex, India’s leading crypto exchange, has set up a new development center in Bengaluru, the country’s IT hub.  

Also read: Poloniex Offers Institutional Accounts, Okex Launches ‘Perpetual Swap’

Coinbase Offers Paypal as Withdrawal Option

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto AssetsLeading U.S. cryptocurrency exchange Coinbase has added support for Paypal as a payment method for withdrawals, allowing users to directly transfer fiat funds into their Paypal accounts. The availability of the withdrawal option is dependent on an individual’s country of residence.

An announcement published on its website detailed that Coinbase has introduced the ability for customers to link their Paypal and Coinbase accounts. Once implemented, Coinbase customers will able to either withdraw fiat currencies to Paypal, or sell their cryptocurrencies and use the Paypal account to receive the fiat money.

To take advantage of the service, users need to ensure they have completed all identity verification steps on Coinbase and that their listed country is correct. Then they will have to go to ‘Settings’ and click “Link a New Account” if using the desktop platform, or “Add a Payment Method” in the mobile app.

After selecting Paypal, they will be prompted to log in to their Paypal account. Currently, Coinbase customers in supported regions can only use Paypal to withdraw fiat or sell cryptocurrency. Purchases of digital assets with Paypal are not available yet.

Gazprombank Ventures Into Digital Asset Management

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto AssetsGazprombank (Switzerland) Ltd., the Swiss subsidiary of the Russian state-owned Gazprombank, plans to launch a digital asset management product in cooperation with two fintech companies, Avaloq and Metaco. The new financial service will be based on the Silo infrastructure, a crypto asset custodial solution developed by Metaco.

According to a press release, the partners will offer their clients the ability to perform crypto transactions without the need to set up a separate cryptocurrency wallet. They will be able to monitor and control both their fiat and digital funds through their accounts.

The new service will be officially launched in 2019. Gazprombank, which is the third-largest Russian bank by assets, announced its intentions to begin limited-scale cryptocurrency operations through its Swiss subsidiary earlier this year. In March, its deputy CEO Alexander Sobol said the bank is doing that in response to demand from some of its large customers.

Koinex Sets up Development Center in Bengaluru

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto AssetsDigital asset exchange Koinex, India’s leading cryptocurrency trading platform, has announced it’s inaugurating a new development center in Bengaluru, the country’s IT hub. The unit will be exploring potential implementations of crypto and blockchain technologies in various industries, the Indian daily Business Standard reported.

According to the publication, the development center will work to address different issues related to finance, payments, security and banking operations on a global scale. The Mumbai-headquartered company has already secured backing from leading venture capital companies, including Singapore-based Beenext and San Francisco-based Pantera Capital.

Koinex also noted it’s currently expanding its workforce. In addition, the company plans to allocate $ 1 million for investments in the development of the blockchain and crypto ecosystem in India. Koinex co-founder and CEO Rahul Raj expressed confidence in the diversification of the platform’s product offerings. He also emphasized that “digital assets exchanges are at the epicenter of all blockchain related development today.”

Coinsquare Acquires Wallet Provider Blockeq

The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto AssetsCoinsquare, a major Canadian cryptocurrency trading platform, has acquired wallet solutions provider Blockeq for $ 12 million. According to an announcement, the crypto exchange plans to take advantage of the technology developed by Blockeq in order to expand its products and services using the Stellar Network.

The startup has so far released a number of private stellar wallets, including desktop versions for MacOS and Windows, as well as mobile apps that are currently available on both Apple App Store and Google Play Store. After the acquisition, Blockeq will continue to operate as a Coinsquare subsidiary and a separate entity.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


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The post The Daily: Coinbase Adds Paypal Withdrawals, Gazprombank to Manage Crypto Assets appeared first on Bitcoin News.

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The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds Zcash

November 30, 2018 |

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Ads Zcash

Digital asset exchange Kucoin has partnered with an Israeli startup to introduce credit card payments for cryptocurrency purchases and we’ve covered it in The Daily. Also, Coinbase has added privacy coin zcash to its professional trading platform, while Okex has delisted dozens of trading pairs with low liquidity. And in Ghana, over 100,000 investors have lost millions of dollars in a coin scam.    

Also read: Coinbase Launches OTC Desk, Huobi Opens Derivatives Market

Kucoin Introduces Credit Card Payments

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds ZcashKucoin has teamed up with Simplex to allow its users to buy cryptocurrencies with credit and debit cards. The Singapore-based exchange’s new service is now available in over 100 countries. Its customers can use U.S. dollars and euros to purchase bitcoin core (BTC), ether (ETH) and litecoin (LTC).

Simplex is a provider of payment processing solutions headquartered in Israel. The fintech startup operates globally and has subsidiaries in the U.S., U.K. and Lithuania. Merchants using its services receive their payments from Simplex, even in the case of fraudulent chargebacks. The company already cooperates with some of the leading platforms in the crypto space, including Shapeshift and Changelly.

Kucoin recently raised a total of $ 20 million in a series A funding round. The exchange, which started trading digital assets in September of last year, now has more than 5 million registered users in over 100 different jurisdictions.

Coinbase Pro Adds Privacy Coin Zcash

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds ZcashLeading U.S. cryptocurrency exchange Coinbase has listed privacy-centric digital coin zcash (ZEC) on its professional digital asset trading platform, Coinbase Pro. According to an official announcement, Coinbase Pro started accepting ZEC deposits on Thursday, Nov. 29.

“We will accept deposits for at least 12 hours prior to enabling trading,” the company explained in a blog post, which also detailed: “Once sufficient liquidity is established, trading on the ZEC/USDC order book will start.”

The San Francisco-based exchange also revealed that initially ZEC trading will be available for residents of the Unites States, excluding New York, and Coinbase Pro users in the U.K., EU member states, Canada, Singapore and Australia. Support for other jurisdictions may be provided in the future, Coinbase noted. The company will also consider adding ZEC to its consumer platform and mobile apps if there are no technical issues with trading on Coinbase Pro.

Following the announcement, the price of zcash jumped by about 15 percent. At the time of writing, the coin was trading at around $ 88.

Okex Delists Trading Pairs With Low Liquidity

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds ZcashOkex, currently the second-largest cryptocurrency exchange by daily trading volume, announced that it’s delisting 38 trading pairs and tokens with weak liquidity and low trading volume. The decision pertains to firstblood, district0x, iconomi, santiment network and singulardtv, among other coins. The full list is available on the platform’s website.

The trading pairs will be delisted on Nov. 30. Okex advises users to cancel their orders with the affected coins or the exchange will cancel them automatically and credit the assets to the trading accounts. Okex customers holding a number of tokens — VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT and MAG — have been asked to withdraw them to other cryptocurrency platforms before Dec. 14.

Investors in Ghana Lose $ 27M in Coin Scam

The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds ZcashMore than 110,000 Ghanaians have been reportedly defrauded in a scheme involving cryptocurrency investments. According to local media, Kwaku Kumi and David Opatey — executives of an entity called Global Coin Community Help (GCCH) — have been arrested and interrogated by the country’s Economic and Organized Crime Office. Both have been released on bail, however.

The swindled investors lost an estimated 135 million Ghanaian cedi, or roughly $ 27 million, the Ghanaian news outlet Daily Graphic reported. According to investigators, GCCH accepted deposits without a license from the Bank of Ghana. The company promised to pay customers a monthly interest rate of 27 percent for a period of one year.

Unable to pay the high interest rate, the fraudsters later offered to compensate the investors with digital coins traded on an exchange called Mintcrtx. When their deposits were converted, the tokens were valued at 20 Ghanaian cedi per coin, but their price has since dropped to only 2 cedi. Police found that the trading platform is owned and operated by GCCH.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Kucoin Enables Credit Card Payments, Coinbase Pro Adds Zcash appeared first on Bitcoin News.

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