Bitcoin has almost completed another rollercoaster week in which it met its second major price correction of 2021. Having hit $58,300 all-time highs, bulls lost steam with a retracement becoming a full-on dive in which Bitcoin lost 20%. Subsequent ranging combined with fresh weakness has taken weekly losses to almost 25%.
-
-
Coinbase will go public with historic direct stock sale
The listing will make the U.S.-based cryptocurrency exchange the first firm in the industry to become a public company by selling stock
The leading U.S. cryptocurrency exchange intends to become a publicly traded company with a direct listing of its Class A shares rather than a traditional IPO.
-
Brian Armstrong has plans for Coinbase that go far beyond a cryptocurrency exchange (Photo: TechCrunch)Coinbase pitches a grand design in buying Bison Trails
Purchasing the blockchain infrastructure provider is part of Brian Armstrong’s goal of growing Coinbase is beyond its roots as a cryptocurrency exchange
In a Jan. 19 statement on its blog, Coinbase portrayed the move part of a grand design, calling it “an important step in delivering on our mission to create an open financial system for the world.” It’s also part of a business strategy to turn the infrastructure Coinbase built for itself into a suite of products available to any developer.
-
Crypto-friendly Brian Brooks steps down as bank overseer
The former Coinbase executive’s rulings at the Office of the Comptroller of the Currency aided the cryptocurrency industry by allowing banks to custody and make payments with stablecoins
During his eight months at the head of the Office of the Comptroller of the Currency, Brooks, a former general counsel at Coinbase, enacted a number of reforms that helped push the cryptocurrency industry farther into the banking industry’s mainstream, most recently authorizing banks to use stablecoins to make payments and for other transactions on behalf of customers.
