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The POSA updated its staking principles to say that providers should communicate clearly and should not control the amount of liquidity a user must provide. The Proof of Stake Alliance (POSA), a non-profit organization that represents firms in the crypto staking industry, published an updated version of its “ staking principles” on Nov. 9. The new principles are supported by Ava Labs, Alluvial, Coinbase, Lido Protocol, Paradigm, and ten other staking industry firms. Previous version of the POSA staking principles. Source: POSA. POSA represents 15 different firms in the staking industry, including Alluvial, Ava Labs, Blockdaemon, Coinbase, Credibly Neutral, Figment, Infstones, Kiln, Lido Protocol, Luganodes, Methodic, Obol, Polychain, Paradigm, and Staking Rewards. The staking principles were first published in 2020. According to the blog post that announced them, the POSA staking principles are meant to be “a set of industry-driven solutions” that provide rs can implement to addr...

Coinbase-supported Base Layer 2 network has open-sourced its code repositories, aiming to enhance transparency and encourage public contributions. The Base Layer 2 network, incubated by Coinbase, recently open-sourced its code repositories. This step is designed to promote transparency and enable public contributions to the project. Developers can now access Base’s core code, facilitating various processes from contracts to deployments. Base’s decision to open its work aims to involve the wider developer community. The organization believes that by sharing their code, they can stimulate collaboration and utilize collective expertise to enhance their existing infrastructure. Furthermore, opening their code can provide a platform for feedback, potentially leading to the identification of areas for improvement or unnoticed bugs. An important context is Base’s collaboration with Optimism on the Ethereum-based OP Stack. Anika Raghuvanshi, a Senior Software Engineer at...

Coinbase holds $25 billion worth of Bitcoin, amounting to nearly 5% of the cryptocurrency’s total supply, according to Arkham Intel. Blockchain intelligence platform Arkham Intel, on Sept. 22, revealed that U.S.-based crypto exchange Coinbase currently possesses close to 1 million Bitcoins (BTC) in its wallets.  Arkham has now identified $25B of Coinbase Bitcoin reserves (~1M BTC) on chain. This makes Coinbase the largest Bitcoin entity in the world on Arkham, with almost 5% of all BTC in existence – about as much as Satoshi Nakamoto. pic.twitter.com/7sDOczS7WT — Arkham (@ArkhamIntel) September 22, 2023 The Bitcoin holding is valued at over $25 billion per the current market rates. It also constitutes almost 5% of all Bitcoin in circulation, an amount that would put Coinbase on par with the alleged holdings of Bitcoin’s elusive founder, Satoshi Nakamoto. As asserted by Arkham, Coinbase’s Bitcoin portfolio consists of a grand total of 947,755 B...

A Coinbase user recently shared a Coinbase-related scam story indicating that the exchange’s servers might be compromised . Jacob Canfield, a YouTube host and bitcoin enthusiast, claimed he received a text message about a changed two-factor authentication (2FA) setting on their Coinbase account. Shortly after, he got three phone calls from an individual claiming to be a Coinbase customer support representative. The calls originated from a San Francisco number, adding to the illusion of legitimacy. Holy shit. I just got attacked with one of the most complex scams in #crypto that I have seen to date. Please read if you use @coinbase. This just happened 15 minutes ago. THIS IS A WARNING FOR ALL COINBASE USERS! There has been some sort of a data breach. First, I… pic.twitter.com/aOVWLpAtY4 — Jacob Canfield (@JacobCanfield) June 13, 2023 During the calls, the impersonator asked whether Canfield was traveling outside the US and whether he had requested changes to the email ...

With the Ethereum Merge only days away, crypto Analysis company CoinGecko has looked into which countries are most interested in the imminent upgrade. According to CoinGecko reports, Singaporean crypto holders lead several others in terms of interest in Ethereum’s imminent historic milestone. Singapore’s “ETH Merge” Searches Eclipse US, Canada Ethereum’s dev team has confirmed that the network’s shift to the Proof-of-Stake consensus mechanism will occur between September 13 and 15. As the upgrade has been in the works for years, several industry participants have been eagerly awaiting the launch date. Hence, CoinGecko studied data surrounding global Google trends of English search terms to assign nations worldwide a “total search score. According to the findings from the study, Singapore ranks first in the list of nations anticipating the Merge. CoinGecko reports that the  Southeast Asian country had a search score of 377, significantly higher than other nations across t...

The two networks will share profits and governance using multi-signature wallets, and a ‘Security Council’ will be formed as the ecosystem grows. Developers behind the Base and Optimism networks have jointly announced a revenue -sharing and governance -sharing agreement. Coinbase, the parent company of Base, has also published a list of “principles of neutrality” it will follow to prevent Base from becoming centralized. This announcement was made through three separate blog posts on Aug. 24; one from the jointly-controlled Optimism Collective, one from Base, and one from Coinbase. According to the jointly-controlled Optimism Collective’s post, Base’s smart contracts can only be upgraded via a 2/2 multi-signature wallet account. One signature is controlled by Base and the other by the Optimism network’s team (called the “Optimism Foundation”). This means that Base cannot be upgraded without the consent of the Optimism team. As more chains opt to use the OP Stack and become part of the ...

Coinbase’s Base network began onboarding end users through a bridge UI, and the team announced Aug. 9 as the platform's official launch date. Coinbase’s Base network has released a user interface (UI) for its official bridge, allowing end users to onboard for the first time without relying on developer tools, according to an Aug. 3 announcement. The team has set Aug. 9 as Base’s “official” release date. The team will award over 100 Ether (ETH), worth approximately $184,000, in grants to developers and content creators as part of a month-long launch event called the “Onchain Summer.” Base is now open for bridging Base opens for everything on August 9 We’re helping throw an onchain festival to celebrate ɪᴛ'ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ https://t.co/p8KTcnkbbx — Base ️ (@BuildOnBase) August 3, 2023 The Base mainnet launch ed for builders on July 13, but it lacked a functioning UI for its bridge from Ethereum. At the time, the only way to use the network was to employ command-line develop...

Last week, the US Court of Appeals for the Third Circuit ordered the US Securities and Exchange Commission (SEC) to respond to Coinbase’s request for clarifying the rulemaking .  According to documents shared by the exchange’s chief legal officer (CLO) Paul Grewal, the regulator has denied to “commit to any deadline despite the Court’s explicit order.” The SEC says in the letter that Coinbase’s petition might receive a recommendation within 120 days. Moreover, the SEC set the deadline to update the court on Oct. 11, 2023, according to Grewal’s tweet. In addition, the regulator asked the court to “take no action” before the time limit is reached. 4/5 pic.twitter.com/7obUPvATqK — paulgrewal.eth (@iampaulgrewal) June 13, 2023 Grewal added that the SEC disregards “the clear statements of the Chair that confirm they have no intent to issue new rules.” You might also like: Ava Labs CEO to testify before US House “Coinbase’s request for periodic reports is s...

Also Read: Coinbase Legal Head Meets Ripple Chief Legal Officer; Sparks Relisting Rumors advertisement Ripple Ignoring XRP & Helping Coinbase? As the US SEC Vs Ripple lawsuit Summary judgment announcement closes in, XRP relisting on Coinbase talks has begun among the community. As per a legal expert, it is being suggested that Coinbase might not relist XRP after the ruling as Ripple itself has decided not to use its native crypto in its latest liquidity hub service. He hinted that why Ripple expect Coinbase to relist XPR when in the last few weeks the blockchain company itself has ignored it. However, the recent meeting was likely focused on how Ripple and its counsels can assist Coinbase in its petition. While the blockchain firm can also help the crypto exchange for a writ of mandamus. Read More XRP News Here… Also Read: Ripple Win Will Drag US SEC To Settle, Hints XRP Lawyer Trending Stories ...

Also Read: Ripple To Face Trouble From XRP Holders in Court? Attorney Suggests This advertisement In a recent Congressional hearing, Patrick McHenry, Chair of the House Financial Services Committee, stated that there was clearly no clarity on the regulatory framework when it came to the crypto market. McHenry made the comments while grilling SEC chair Gary Gensler. Relist XRP Demand Over Coinbase Stance On Thursday, Coinbase gave a formal response to an SEC Wells Notice saying the company did not violate securities laws in its United States operations. The SEC had earlier issued a notification saying it was investigating the Earn product, wallet service, and exchange operations. Reacting to this, the exchange’s CEO Brian Armstrong said the company was willing to have a “true dialogue to a workable path forward” for the crypto industry, while stressing that Coinbase was ready to defend its position in court. ...

Crypto ownership among U.S. adults has remained steady over the last 12 months, with a large portion seemingly "frustrated" by the one-sided global financial system. A whopping 80% of American adults believe the financial system favors those with “powerful interests,” while 20% currently own cryptocurrency — a new survey has revealed. Commissioned by crypto exchange Coinbase, the February online survey of more than 2,000 American adults found that 80% of respondents said the “global financial system unfairly favors powerful interests,” while 67% have called for “major changes” or a “complete overhaul” of the financial system. A large portion of respondents are disillusioned with the Global Financial System and want change. Source: Morning Consult  The Survey was conducted by Business intelligence firm Morning Consult and was aimed at examining the perception of the global financial system and how United States adults and crypto investors viewed the future of the crypto m...

Bankrupt digital lender Voyager has been sending crypto tokens to centralized exchanges of late. Via a tweet on Thursday, blockchain security company PeckShield brought to light that ~9.6 million worth of assets has been transferred from Voyager to Coinbase, Binance US, and Kraken. The tokens transferred included Voyager Token [VGX], Chainlink [LINK], Ethereu m [ETH], and Shiba Inu [SHIB]. Ethereu m and Shiba Inu accounted for roughly two third of the share, i.e. $6 million in total. The remaining $3.6 million was accounted for by Voyager token and Chainlink [$2.1 million and $1.5 million respectively]. As shown below, the source involved two addresses — Voyager, and Voyager 1. Most of the involved tokens were first sent to different addresses before finally being transferred to the centralized exchanges. #PeckShieldAlert ~$9.6M worth of cryptos transferred from Voyager to crypto-exchanges Coinbase, Binance US and Kraken , including ~4.9M $VGX (~$2.1M), 221k $LINK (...