Coinbase Stock News

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.

The TaxBit Network will let all customers of participant businesses access free tax filing tools.

Some institutions use crypto equities as a proxy for cryptocurrencies, one value investor said.

The initial NFT drop will include award-winning photographs of subjects like space, climate, and war from AP photojournalists. The Associated Press (AP) is launching a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized photographs from the global news platform. The initial collection of NFTs will include photographs of subjects like space, climate, and war from AP photojournalists. They will be released over several weeks starting on Jan. 31 for varying prices, according to the marketplaces website . The photographs will be minted as NFTs on the Ethereum layer-two scaling network, Polygon. The platform will support secondary transactions using debit or credit cards, and payments in Ethereum. The marketplace is being built by Xooa, a blockchain infrastructure platform specializing in building white-label NFT marketplaces for brands and IP owners. Head of marketplaces at Xooa, Zach Danker-Feldman, said the partnership will serve as a powerful connection between the virtual world and the real world. Crypto wallet provider Metamask is also supported, with future collaborations with Fortmatic, Binance, and Coinbase on the cards.

Coinbase CEO Brian Armstrong bought an estate in Bel Air in Los Angeles for $133 million last month, a report says.

The cryptocurrency exchange is still a polarizing investment.

What happened: An anonymous cryptocurrency wallet holding $21,065,570 of Bitcoin (CRYPTO: BTC ) just transferred their funds onto Coinbase. The bitcoin wallet address tied to this transfer has been identified as: 3CCxFk5tDkzbbJ6qJ1j3XTchh6yBuNahFd 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

What happened: An anonymous cryptocurrency wallet holding $39,293,387 of Bitcoin (CRYPTO: BTC ) just transferred their funds onto Coinbase. The bitcoin wallet address tied to this transfer has been identified as: 1HuLeKhN3e5k3QkZuxPdaK951Fsd5m52Q 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

The investment bank also continues to rate crypto exchange Coinbase as a buy.