Tag: Coinbase

Coinbase competes for Cloudflare deal to build an AI stablecoin

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Coinbase is reportedly in the running to partner with Cloudflare on issuing a stablecoin purpose-built for AI transactions. The deal, first reported by The Information, would position both companies at the intersection of two industries that can’t stop talking about each other. If that sounds like a corporate Mad Libs combining every buzzy term of 2025 — AI, stablecoins, agents — well, it kind of is. But there’s a real problem being solved here, and the companies chasing it aren’t exactly startups running on vibes. What we know about the…

Sam Altman’s World and Coinbase roll out toolkit to distinguish human-backed AI agents from bots

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Sam Altman’s World has unveiled a new developer toolkit designed to help websites and online services verify that artificial intelligence agents are operating on behalf of real people rather than autonomous bot networks. The toolkit, called AgentKit, launched today in beta and integrates World’s identity verification system with x402, an open protocol developed by Coinbase and Cloudflare. The technology allows AI agents to carry cryptographic proof that they represent a unique human while interacting with websites, application programming interfaces, and digital services. The release targets a growing problem in AI…

Coinbase Execs Say They Aren’t Opposing BTC Tax Exemption

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Executives at Coinbase have denied allegations that the crypto exchange is blocking a de minimis tax exemption for Bitcoin (BTC) transactions below a certain threshold to push for stablecoin tax exemptions. Several Bitcoin advocates speculated on social media that the exchange told US lawmakers that a BTC tax exemption is not needed because BTC is not widely used as a medium of exchange. Coinbase CEO Brian Armstrong responded by calling the allegations “totally false” and a form of misinformation. “I’ve spent a bunch of time lobbying for Bitcoin’s de minimis…

Tom Lee’s Bitmine sends 5,300 ETH worth $11M to Coinbase, possibly for staking

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Bitmine Immersion Technologies (BMNR), the publicly traded Ethereum treasury firm chaired by Fundstrat co-founder Thomas “Tom” Lee, moved 5,300 ETH valued at approximately $11 million to Coinbase Prime today in a move that may signal plans to stake the funds, according to Arkham Intelligence data. A transfer to Coinbase Prime does not necessarily mean the assets are about to be sold. Coinbase Prime is an institutional platform that provides custody, trading, and staking services, meaning deposits can be tied to a variety of treasury or portfolio management strategies. Bitmine announced…

Cumberland continues Ethereum buying spree with $31M withdrawal from Coinbase

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Cumberland, the crypto trading arm of DRW Holdings, withdrew 14,800 Ethereum valued at approximately $31 million from Coinbase on Friday, doubling down on digital asset accumulation amid ongoing market volatility, according to data tracked by Lookonchain. The Cumberland-labeled wallet currently holds almost 457,000 ETH worth over $940 million. The latest transfer follows Cumberland’s Thursday move. Data shows that wallets linked to the entity pulled 46,620 ETH worth nearly $100 million from Coinbase, Binance, and Copper. Cumberland continued accumulating $ETH, withdrawing another 14,800 $ETH($30.8M) from #Coinbase ~30 minutes ago.https://t.co/2CNtRUpICkhttps://t.co/bUruFIhPoB pic.twitter.com/vsQ3lPHnVk —…

Coinbase CEO Brian Armstrong faces shareholder lawsuit over compliance failures and disclosures

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Brian Armstrong and several of Coinbase’s most senior leaders are now defendants in a shareholder derivative lawsuit that accuses them of issuing misleading statements about how the exchange safeguarded customer assets, vetted token listings, and maintained anti-money laundering programs. The complaint, filed March 3 in the US District Court for the District of New Jersey, covers a period from April 2021 through June 2023 — years during which the company went public, grew into the dominant US exchange, and attracted a cascade of regulatory actions. The suit was brought by…

Ripple expands institutional futures access through Coinbase Derivatives

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Ripple and Nodal Clear announced that clients using Ripple Prime can now access the full suite of Coinbase Derivatives futures contracts through Nodal Clear’s clearing infrastructure. The integration allows institutional traders on Ripple Prime to trade regulated crypto futures listed on Coinbase Derivatives, including nano Bitcoin and nano Ether contracts as well as futures tied to Solana and XRP. Access to the derivatives products is enabled through Ripple Prime, the prime brokerage platform created after Ripple acquired futures commission merchant Hidden Road Partners CIV US LLC. The platform provides multi-asset…

Coinbase Executives Face Shareholder Lawsuit over Compliance Failures

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A Coinbase shareholder filed a derivative lawsuit against several of the crypto exchange’s top executives and board members, accusing them of failing to oversee compliance and disclosures and exposing the company to legal and regulatory fallout. The complaint was filed Tuesday in the US District Court for the District of New Jersey and was brought by shareholder Kevin Meehan on behalf of Coinbase Global. It names CEO Brian Armstrong, co-founder Fred Ehrsam, and several current and former directors and senior executives, including chief legal officer Paul Grewal and chief financial…

Coinbase Helps Dismantle Major Phishing Platform

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A coalition of tech companies and law enforcement, including Coinbase, has dismantled the core infrastructure of Tycoon 2FA, a major phishing-as-a-service platform that offered tools to bypass multi-factor authentication. Europol announced Wednesday that Microsoft helped block 330 domains linked to the platform, while law enforcement seized additional key infrastructure. Financial tracing was also a key aspect. Coinbase said it assisted by tracing blockchain-related transactions funding Tycoon 2FA, which helped identify the phishing platform’s alleged administrator and buyers. “Taking Tycoon’s core infrastructure offline cuts off a major pipeline for credential theft…

Morgan Stanley Selects BNY, Coinbase As Custodians for BTC ETF

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Financial services giant Morgan Stanley selected Bank of New York (BNY) Mellon, a global financial services company, and crypto exchange Coinbase as custodians for its Bitcoin Trust Exchange-Traded Fund (ETF), according to a filing with the US Securities and Exchange Commission (SEC) on Wednesday. The custodians will hold all of the fund’s Bitcoin (BTC) in cold storage, or offline methods of storing Bitcoin private keys, with a “portion” of the BTC moving to hot wallets connected to the internet at times for creation and redemption purposes, according to the SEC…