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Coinbase has acquired Earn, a startup that allows for sending and receiving or digital currency for microtasks; Finovate reports the deal to be worth $100mn and Earn CEO Balaji Srinivasan will now serve as Coinbase’s first CTO. Source.
Coinbase now supports bitcoin cash and is looking into whether employees took advantage of the launch; employees may have been able to profit as they knew it was about to be added on Coinbase. Source
XRP is the third largest cryptocurrency by market capitalization; it will be added to Coinbase Pro in transfer-only mode which...
Coinbase has raised $100 million in a Series D funding round led by IVP; firm has exchanged over $25 billion of digital currency and plans to use the funding for expanding its business operations; the company currently has three main products: Coinbase for retail digital currency trading, GDAX for institutional and professional digital currency trading, and Toshi a browser for the Ethereum network. Source
In a blog on the company’s website David Farmer, Director of Communications, explained the ability for customers to instantly purchase digital currency using a US bank account; customers can now buy up to $25,000 and receive access to their digital currency immediately. Source.
Coinbase built the platform, Coinbase Custody, to serve investors like hedge funds and family offices; "We are designing Coinbase Custody to meet the needs of institutional clients," Armstrong said in a Medium post as reported by Business Insider; the features include account representatives and support, multi-user accounts and insurance in some cases. Source.
Cryptocurrency exchange Coinbase has been hit with a class action lawsuit that alleges insider trading during their launch of bitcoin cash; the plaintiffs are accusing the exchange of tipping off insiders prior to the official launch; prices of bitcoin cash spiked ahead of the launch and Coinbase did say they would conduct an investigation into the matter, plaintiffs claim the results have yet to be revealed. Source.