Coinbase Stock News

The company is bracing for another intense year amid fluctuating crypto prices, and want to prevent employee burnout.

Coinbase''s (COIN) recent move to buy regulated crypto derivatives exchange FairX opens its door to a "one-stop-shop" for digital asset financial services, Needham analyst John Todaro

The bank sees total crypto trading revenues rising 62% at Coinbase and 18% at Robinhood compared with the quarter before.

Coinbase is expanding into derivatives trading with the acquisition of FairX derivatives exchange, a regulated exchange that launched less than a year ago.

Coinbase is second only to Binance in spot trading volumes of cryptocurrencies. FairX is a Chicago-based derivatives exchange with substantial retail market experience. The purchases would appear to enable Coinbase to expand by offering its clients access to certain crypto futures traded on a CFT

Shares of crypto exchange Coinbase rose about 3.5% after hours Wednesday, following its announcement of plans to purchase derivatives exchange FairX.

The acquisition follows on the heels of FTXs acquisition of LedgerX.

Cryptocurrency exchange Coinbase (COIN) is buying FairX, a CFTC-regulated derivatives exchange, at a time when there is high demand for products within the derivatives space, according…

Bank of America analyst Jason Kupferberg predicted Wednesday that Coinbase (COIN) will cast a wide net as it launches its NFT trading platform, as the marketplace looks to diversify.

What happened: An anonymous cryptocurrency wallet holding $22,235,701 of Bitcoin (CRYPTO: BTC ) just transferred their funds onto Coinbase. The bitcoin wallet address tied to this transfer has been identified as: bc1qfff467l2e05mlju476f86w4w73f78d4z3gpquh You can view more details about the transaction here . Why it matters: Cryptocurrency transfers from wallets to exchanges is typically a bearish signal. Most high networth cryptocurrency traders hold their funds Full story available on Benzinga.com

A new NFT marketplace launched By NFT People, For NFT People has taken the non-fungible token market by storm and could provide competition to OpenSea and the pending launch of a marketplace from Coinbase Global Inc (NASDAQ: COIN ). What Happened: LooksRare launched as an NFT marketplace this week and is the talk of the town in the sector. The marketplace features NFTs built on the Ethereum (CRYPTO: ETH ) blockchain that appear on OpenSea and some that dont. Users can place offers and buy NFTs from projects using ETH and WETH (wrapped Ethereum). LooksRare was launched to offer an NFT marketplace that rewards active users for their trading instead of just taking the fees as profit, LooksRare investor Hunter Orrell told Benzinga . Orrell was an early seed investor in LooksRare and was involved with providing feedback, launch strategy and bug/user experience improvements to the company. Traders on LooksRare are rewarded with the LooksRare (CRYPTO: LOOKS) token. These tokens can also be staked to earn additional $LOOKS and fees (the 2% from trading) in WETH generated by the platform.

Binance''s Mysterious CEO Has Quietly Amassed A $96 Billion Fortune The owner of the world''s largest crypto fortune, which stands at $96 billion, is likely an unsuspecting name that you wouldn''t recognize: Changpeng Zhao. But despite the fact that you''ve likely never heard of the Binance CEO, who now spends his time meeting with royalty and living in the United Arab Emirates, doesn''t mean that he isn''t gaining on the list of the world''s richest people, on the tails of well known celebrity CEOs like Elon Musk and Jeff Bezos. In fact, he''s richer than Asias richest person, Mukesh Ambani, the report notes. Described by Bloomberg as a " former McDonalds burger-flipper and software developer" turned "the most prominent personality" in the UAE''s crypto scene. Zhao is a Canadian citizen who was born in Chinas Jiangsu province. And his fortune could be getting even larger: he still owns a significant amount of Bitcoin and Binance Coin, which was up 1300% last year. Zhao''s rise to riches hasn''t come without its bumps in the road.

Says the issue could be impacting trading. BTC update:

"Given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term, said chief people officer L.J. Brock. Major U.S. crypto exchange Coinbase will be giving its employees one week off each quarter in 2022 to recharge after long days and long weeks of intense work. In a Monday blog post, Coinbase chief people officer L.J. Brock said nearly the entire company will shut down for four separate weeks this year as part of an experiment in allowing workers to recuperate after completing intense workloads. Brock said the exchanges employees arent necessarily limited to 40-hour work weeks and may have to pivot at a moments notice, seemingly creating the potential for burnout. We realized in 2020 that many employees werent taking enough time off to recharge, either because they didnt want to force their teammates to cover for them or because they didnt want to fall behind on their work, said Brock. We knew this was unsustainable, so we scheduled a recharge week at the end of 2020 and two recharge weeks in 2021, when nearly the entire company would shut down [] Subsequent employee surveys made it clear: recharge weeks work. Coinbase added: Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term. The announcement comes as many U.S. workers are pushing back against unfavorable job conditions, often resulting in changing careers or quitting without a definitive plan a trend many have started calling the Great Resignation.

TaxBit wants to prevent crypto users from spending thousands of dollars per year to generate crypto tax forms.