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Symbol COIN
Name Coinbase Global, Inc.
Currency USD
Sector Information Technology
IndustryGroup Software & Services
Industry Software
Market NASDAQ Global Select
Country United States
State DE
City Wilmington
Zipcode 19801
Website http://www.coinbase.com
Coinbase ranks fifth globally in exchange revenue, generating $5.75 billion, surpassing traditional exchanges like Nasdaq and CBOE. It holds an 11% share of global exchange revenue, while decentralized exchanges (DEXs) capture 5%. Centralized and decentralized exchanges are expanding significantly faster than traditional finance, with a projected combined market cap of $749 billion. Competition is expected to intensify in 2025 as traditional finance integrates crypto activities, and DeFi protocols may offer better returns than leading cryptocurrencies.
BVNK has secured $50 million in Series B funding, led by Haun Ventures, to expand its stablecoin infrastructure into the US, targeting San Francisco and New York City. The London-based company, valued at approximately $750 million, aims to develop local banking infrastructure and operational licenses, competing with established players like Paxos and Circle. With over $10 billion in annual payment volumes and a 200% growth rate, BVNK is positioned to capitalize on the anticipated growth of the stablecoin market, projected to exceed $1 trillion by 2035.
Starting January 1, 2025, U.S. cryptocurrency holders will face stricter tax enforcement as brokers must report transactions to the IRS via Form 1099-DA, increasing transparency but raising concerns of a market sell-off. Missing cost basis records could lead to higher taxable gains, prompting traders to liquidate assets to minimize tax exposure. The IRS will utilize blockchain analysis tools for audits, emphasizing the need for accurate reporting of past and current crypto activities.
Caroline Crenshaw will not be renominated as SEC Commissioner after the Senate Banking Committee canceled the scheduled markup vote. Her tenure, marked by opposition to crypto policies and alignment with SEC Chairman Gary Gensler, faced significant pushback from the crypto industry, which portrayed her as "more anti-crypto than Gensler." Industry leaders and organizations actively campaigned against her reappointment, highlighting the ongoing tensions between regulatory oversight and crypto market development.
Bitcoin reached a new all-time high of $108,135 before settling at $107,020, marking a nearly 12% increase over the past week. The surge in interest follows President-elect Donald Trump's victory, with speculation about a potential U.S. Bitcoin reserve. Meanwhile, XRP gained over 6% amid the launch of Ripple's RLUSD stablecoin, trading at $2.63.
Bitcoin reached an all-time high of $108,000 before a rapid decline of 2.4%, dropping over $2,000 within minutes. Despite this volatility, analysts suggest key support levels around $98,133 due to significant whale accumulation, while some traders anticipate a deeper correction based on historical trends. The options market shows a preference for hedging, indicating caution among investors even as spot prices rise.
Lunex Network has surged over 283% to $0.0046, raising over $5.2 million in presale revenue, driven by its focus on privacy, security, and efficient trading through an aggregator protocol. Meanwhile, Chainlink's partnership with Coinbase aims to enhance data utilization, potentially reversing its recent bearish trend, while Bonk struggles at a critical support level.
Tether's USDT stablecoin remains available for trading on several European exchanges, including Binance, Crypto.com, and Kraken, despite Coinbase's recent delisting to comply with upcoming regulatory requirements. While some exchanges have not publicly addressed the delisting, OKX announced its removal of USDT in March 2024, focusing on euro-based pairs. With the full implementation of the Markets in Crypto-Assets Regulation (MiCA) approaching on December 30, other platforms still have time to decide on USDT's status.
The WEPE team is launching an alpha community for token holders, providing insider trading strategies and expert market analysis to disrupt the meme coin sector dominated by elite groups. With less than four hours left in its presale, Wall Street Pepe has raised over $28 million, positioning itself as a potential leader in the market.Meanwhile, Vana, a new Layer-1 blockchain, has gained attention following its Binance Launchpool listing, surging 2700% initially. Designed for user control over personal data, Vana has raised over $25 million from notable investors and aims to create a decentralized data economy.
Last week, the crypto market faced a $1.6 billion liquidation due to selling pressure on Coinbase, triggering volatility and activating stop-loss orders. Despite this turmoil, the market is stabilizing, with Ethereum rebounding and altcoins like Solana and Binance Coin recovering as traders seek lower-priced assets.In response to the growing demand for integrated crypto management, Plus Wallet offers a versatile mobile app supporting multiple blockchains, while CTRL Wallet has launched its Android app, enhancing the web3 experience. Both wallets aim to simplify asset management and provide users with effective trading tools during these dynamic market conditions.
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