Coinbase Closes Chicago Office and Scales Down Work on Matching Engine

Major United States-based cryptocurrency exchange Coinbase shut down its Chicago office and scaled down the development of its matching engine, Fortune reports on April 23. Per the report, the exchange will consolidate the high-frequency trading matching engine efforts into its San Francisco office. Coinbase also purportedly laid off about 30 employees and will relocate some to the area of the other office, while others will work remotely. According to local news site Chicago Inno, when the company announced the opening of the Chicago office in May last year, it planned…

Coinbase Shutters High-Speed Crypto Trading Division, Axing 30 Jobs

Cryptocurrency exchange Coinbase is shutting down the Chicago office it opened a year ago, eliminating 30 engineering jobs. The San Francisco-based startup’s Chicago division, known as Coinbase Markets, was dedicated to creating sophisticated electronic markets technologies such as matching engines and high-frequency trading for cryptocurrency.   Coinbase said a year on, it had made the difficult decision to consolidate the matching engine work being done in Chicago with similar work being done by its team in San Francisco. A Coinbase spokesperson told CoinDesk: “To become the ‘Google of crypto’ we…

Coinbase Files to Close Its Political Action Committee

Major United States-based cryptocurrency exchange Coinbase has filed to close its political action committee (PAC) on April 3. According to a filing with the Federal Election Commission (FEC) — the regulatory agency in charge of enforcing election laws — Coinbase’s PAC received no funds nor made any disbursements, and is seeking to terminate the PAC. Per FEC regulations, a PAC must file a termination report in order to cease operations once it no longer intends to make or receive contributions or expenditures.   In the U.S., PACs are independent organizations,…

Tennis Star Serena Williams Reveals Investment in Coinbase

Serena Williams, one of the world’s most successful tennis players of all time, has revealed in an Instagram post that she is an investor in cryptocurrency exchange Coinbase. Williams took to the social media platform late last week to announce her VC firm Serena Ventures – which was secretly founded in 2014 – and listing some of its investments, including Coinbase and startups in areas such as fitness, clothing, food and women’s health and community.   Williams said in the post: “In 2014, (yes I know I can keep a secret) I…

Four Olympic Gold Medals Winner Tennis Player Serena Williams Invests in Coinbase

World famous tennis player Serena Jameka Williams revealed in an Instagram post published on April 17 that in 2014, she launched her investment business Serena Ventures and silently invested in over 30 companies, including major cryptocurrency exchange Coinbase. According to the official website of Serena Ventures, the market cap of the portfolio is over $12 billion, and the diversity of the founders of the companies in which the firm invested is 60%. The website further notes that the fund is focused on early stage companies, encourages collaboration among portfolio companies…

Anatomy of a Telegram Scam – The Coinbase Blog

As part of our commitment to keeping customers safe and secure, Coinbase stays on top of emerging and trending digital currency scams and threats. Our top priority is to be the most trusted and secure platform in the industry. Digital currency transactions are irrevocable, and this creates an attractive target for scammers and digital thieves. Telegram, the group chat and messaging app, is a popular platform for cryptocurrency enthusiasts to discuss news, trends, and prices with fellow members of their community. Unfortunately, Telegram is also a popular platform for scammers…

Coinbase Provides Wider Support for Crypto-to-Crypto Conversions

Crypto exchange platform Coinbase has announced that it will be expanding its crypto-to-crypto trading service to more countries. In the announcement, Coinbase explains that cryptocurrencies are in a transition period, which will see them move from being investment options to utilities. According to the exchange, the enablement of crypto-to-crypto conversions will serve as “the backbone of this new decentralized economy.” The new feature will be available to Coinbase.com and Coinbase Pro users in 11 additional nations within Southeast Asia and Latin America. These countries include New Zealand, Peru, Mexico, South…

Coinbase Generated $520 Million in Revenue Last Year, Reuters Estimates

Cryptocurrency exchange Coinbase brought in almost $520 million in global revenue in 2018, according to an estimate from Reuters. The news source based the figure on the exchange’s U.K. revenue, which grew 20 percent last year to 153 million euros ($173 million), according to a filing with the U.K.’s corporate registry. The British side of the business accounts for “almost a third” of the firm’s overall revenue, Coinbase U.K. CEO Zeeshan Feroz told Reuters. The filing further shows that Coinbase U.K. made a net profit of 6.6 million euros ($7.4 million)…

Augur (REP) is now available on Coinbase – The Coinbase Blog

Starting today, Coinbase supports Augur (REP) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store REP. REP will be available for customers in most jurisdictions, but will not initially be available for residents of the state of New York. Augur’s Reputation token (REP) is an Ethereum token designed for reporting and disputing the outcome of events on online prediction markets. Reporters are rewarded for reporting the outcome of events correctly. One of the most common requests we receive…

Coinbase Expands Crypto-to-Crypto Services to 11 More Countries

Major American cryptocurrency exchange and wallet provider Coinbase has expanded its crypto-to-crypto trading to more countries, according to a blog post published on April 17. Coinbase and its professional trading platform Coinbase Pro have introduced crypto-to-crypto conversions and trading to 11 more countries in Latin America and Southeast Asia. The product is now also available to Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand. Coinbase customers in the aforementioned countries can now store, trade, send, and receive cryptocurrencies. The exchange suggests in…