It was a tough month for crypto employees, with at least 14 firms announcing staff reductions, including Coinbase, Gemini, Digital Currency Group, ConsenSys and Blockchain.com.
Founded in 2012, Coinbase — named after the Bitcoin (BTC) coinbase transaction that rewards miners for validating blocks — is one of the oldest, largest cryptocurrency exchanges, having supported tens of millions of users since its launch.
Coinbase offers a range of services including custodial wallets with secure buying, selling and storage of cryptocurrencies; advanced trading and exchange services via Coinbase Pro; and USD Coin (USDC), a stablecoin backed by United States dollar reserves that is built on the Ethereum ERC-20 token standard, offering the advantages of cryptocurrencies without the price volatility.
Coinbase has been a popular choice for newcomers seeking to gain exposure to the burgeoning cryptocurrency space.
New features aimed at protecting users come amid recent crypto thefts and phishing attacks targeted at well-known crypto executives and influencers.2394
United States-based crypto exchange Coinbase is fined 3.3 million euros ($3.6 million) by the Dutch central bank for the lack of registration.11007
The chief product officer will receive a healthy severance package as he departs from his role at the exchange.6052
Ark's GBTC weight in the portfolio actually increased despite the fund selling 500,000 shares in the past month.8518
Coinbase director Conor Grogan speculated it could be either a rogue employee or a trader who might have access to the losing API.14751
Analysts from Moody’s and JPMorgan hailed the exchange for its strong reputation but said it wouldn’t be enough to solve its profitability woes.6608
Coinbase crypto exchange originally started planning its Japanese expansion during the bear market in 2018.5850
Crypto-related stocks, ETFs and tokens have all surged in price so far in 2023 despite experts expecting the Federal Reserve to continue hiking interest rates.8883
The crypto industry has already seen more than 1,600 layoffs across the industry in the first two weeks of January.9115
The public battle between Cameron Winklevoss and Digital Currency Group CEO Barry Silbert continues to rage.6542
Vice President of International and Business Development, Nana Murugesan, said that the firm decided to “wind down” the majority of its operations in Japan.3549
Crypto exchange Coinbase announced a further restructuring plan that involves reducing its workforce by 950 employees to cut operational costs amid the bear market.5285
The entrepreneur faces eight criminal counts, which could result in 115 years in prison should he be convicted.12762
Many popular cryptocurrency trading platforms, including Kraken and Coinbase, have recently initiated a fresh round of firings.3507