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According to Spot On Chain data, the firms sent $10 million worth of crypto to a single wallet address, which then deposited the funds to Binance and Coinbase. Wallets linked to bankrupt crypto firms Alameda Research and FTX transferred over $10 million worth of cryptocurrency to exchange deposit accounts in five hours on October 24-25, according to data from blockchain analytics platform Spot On Chain. The movement of these funds may indicate that the firms plan to sell some assets to pay back creditors. #FTX and #Alameda related addresses are depositing tokens to exchanges ! Via address 0xde9, #FTX 0x97f and #Alameda 0xf02 have transferred 2,904 $ETH ($5.21M) 1,341 $MKR ($2.01M) 11,975 $AAVE ($1.02M) 198,807 $LINK ($2.27M) to #Binance and #Coinbase in the past 5 hours .… pic.twitter.com/MQxCySp8g0 — Spot On Chain (@spotonchain) October 25, 2023 According to Spot on Chain data, an address listed as “likely” belonging to FTX transferred 2,904 Ether (ETH), worth over $5 million at t...

Block production on Base abruptly halted for 43 minutes as developers rushed to implement a fix. Coinbase's Ethereum layer-2 network Base has suffer its first major outage since its public launch on Aug. 9. For approximately 45 minutes on Sept. 5, no new blocks were produced on the Base chain. Its developers first identified the "stalled" block production at 9:36 pm UTC, according to the Base status site. Block production on the Base network stalled at 9:36pm Sept. 5. Source: BaseScan “We identified a delay in block production due to part of our internal infrastructure requiring a refresh. We’ve implemented a fix and are seeing widespread recovery,” Coinbase told Cointelegraph in response to a query on the outage .  Base claims the issue has since been identified with the team now deployed a fix which has seen a "widespread recovery" of block production. It's continuing to monitor the chain for further issues.  Base developers said the cause of the out...

The total value locked (TVL) on the Base layer-2 network spiked to more than $400 million since the launch of the Aerodrome decentralized exchange. The most recent information from DefiLlama shows that the TVL of Base, a layer 2 Ethereum (ETH) network developed at Coinbase, increased by more than 56% to reach $405.66 million in the past week. With the launch of Aerodrome on the Base chain, the TVL on the Base chain has exceeded 400 million US dollars, surpassing the zkSync Era (384 million US dollars), and an increase of about 56% in the past week. The Aerodrome TVL has approached US$200 million. The higher APR has… — Wu Blockchain (@WuBlockchain) September 2, 2023 This increase was powered mainly by the introduction of Aerodrome, a new trading and liquidity marketplace, on the network. Aerodrome got off to a sluggish start when it launch ed on Aug. 28. It brought in less than $5 million in liquidity over the course of its first two days. However, since Aug. 31, deposits ...

Coinbase CEO Brian Armstrong has shared his top ten crypto ideas, urging developers to capitalize on the current bear market to advance these concepts. On Aug. 30, the Coinbase boss took to X (formerly known as Twitter) to spotlight ten key innovations in the crypto currency space, emphasizing that the current bear market presents an optimal period for development and progress. 1/ I'm sharing the 10 ideas I'm most excited about in crypto right now. If you're building something in crypto or thinking about doing so – check it out. We’re building lots at Coinbase, but we don't have time to tackle everything. So I figured I'd share these. Bear markets are… pic.twitter.com/XKzCkMaOOT — Brian Armstrong ️ (@brian_armstrong) August 30, 2023 Flatcoin: a stablecoin with inflation tracking Armstrong started his discussion by introducing the concept of a “flatcoin,” a decentralized stablecoin designed to track inflation and maintain its purchas...

Coinbase has planned a campaign named ‘Onchain Summer’ in celebration of the upcoming mainnet launch of Base. The initiative, which is scheduled to begin on Aug. 9, was publicly announced on Twitter by Coinbase’s CEO, Brian Armstrong. This announcement sparked different reactions from the Shiba Inu community, with Shytoshi Kusama being among those who responded. The lead Shiba Inu developer insinuated that Coinbase may have copied the idea from the Shiba Inu community, If it isn't a shadowcat, its a #copycat. #SummerOfShibarium — Shytoshi Kusama™ (@ShytoshiKusama) August 3, 2023 Just last month, the lead developer of SHIB introduced the “Summer of Shibarium” campaign. Through this, the network aims to signal the approach to the mainnet launch of the layer 2 protocol, Shibarium. Additionally, as part of the campaign, Shiba Inu will also take part in the upcoming Blockchain Futurist Conference in Canada on Aug. 15 and 16. The network ...

Brian Armstrong claimed SEC staff said all cryptocurrencies but Bitcoin are securities and requested the exchange delist all other cryptocurrencies. Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how are you coming to that conclusion? Because that’s not our interpretation of the law,” Armstrong added. He recounted that the regulator said “we’re not going to explain it to you, you need to delist every asset other than Bitcoin.” It’s a similar view held by SEC chair Gary Gensler who claime...

Coinbase has asked the court to dismiss the lawsuit filed against the company by the US Securities and Exchange Commission (SEC), stating that the tokens mentioned in the lawsuit are not “investment contracts” and therefore do not qualify as crypto asset securities.  Coinbase refutes the SEC label of digital assets on its platform  U.S. crypto exchange giant Coinbase filed a 177-page response to the SEC’s complaint on June 28, stating that the SEC lacked the regulatory power to oversee digital assets. In June, the SEC sued Coinbase for operating as an unregistered broker, national securities exchange, and clearing agency. The lawsuit also mentioned Coinbase’s staking program along with 13 tokens including DASH, NEXO, FLOW, SOL, and ADA, labeling them as securities .  You might also like: Sen. Cynthia Lummis lambasts SEC over enforcement actions against Coinbase Meanwhile, the document claimed that Coinbase’s business remains ...

Also Read: Hinman Emails Depicts SEC Fovoured Ethereum Over Other Cryptos advertisement SEC Seeks 4 Additional Months To Reply As per the court filing, the U.S. SEC stated that it has not decided what action needed to take on the rulemaking petition. It added that the order refers to enforcement actions and statements by the SEC Chair, however, it does not demonstrate a decision to reject the exchange’s rulemaking petition. The commission has asked for additional 120 days to reply to the crypto clarity request. Paul Grewal, Chief Legal Officer of Coinbase mentioned that the U.S. SEC repeated the fallacy that they haven’t decided to take any action to serve new crypto rules. The commission has completely refused to commit to any clear deadline despite facing a court’s explicit order. It is important to note that the commission has entirely ignored the statements made by its Chair that eventually confirm that they have no intention to issu...

Coinbase Responds To Controversy At the time of writing, the tweet that Grewal had posted got viewed over 650,000 times and was hailed with praise. While some Twitter users were quick to point out that Coinbase’s apologies arrived much too late, others cheered the company’s decision to bow down to the authority of the meme. advertisement Read More: Empower Oversight Sues US SEC Over Selective Enforcement On Crypto Late on Thursday morning, Grewal posted a tweet that read, “We screwed up and we are sorry.” He continued by saying that yesterday the team had discussed an overview of the “ PEPE meme coin in order to present a factually accurate picture of a topic that is currently popular.” However, Paul apologized to the community and added that the email did not paint the whole picture of the coin and evolution of the meme. We screwed up and we are sorry. Trending Stories Top...