Coinbase has launched crypto staking in New York, allowing residents to earn rewards on assets such as ETH and SOL following state regulatory approval. Cryptocurrency exchange Coinbase said New York residents are now able to stake their assets following approval from state regulators. In a Wednesday blog post, Coinbase said its users could begin earning rewards from staking in Ether (ETH), Solana (SOL), and other assets. The company credited New York Governor Kathy Hochul for “embracing progress and providing clarity” leading to the approval, with plans to continue expanding staking services across the US. “This is a big win for New Yorkers, and a step toward ensuring every American has equal access to the future of finance,” said Coinbase. “But our work is not done. We estimate that residents in California, New Jersey, Maryland, and Wisconsin have collectively missed out on more than $130 million in staking rewards due to state-wide bans.” Read more
Crypto exchange Coinbase is pursuing a National Trust Company Charter in the US, but said it has "no intention of becoming a bank." Crypto exchange Coinbase has applied for a National Trust Company Charter with the US Office of the Comptroller of the Currency (OCC), joining a growing number of US-based crypto companies pursuing the same license. “Coinbase is taking a significant step in expanding our business capabilities and regulatory oversight beyond the existing framework, paving the way for innovation and growth in building a modern financial system powered by digital assets,” Coinbase said in a statement on Friday. According to Coinbase, pursuing the license is part of its strategy “to bridge the gap between the crypto economy and traditional financial system.” However, it has no interest in changing the core focus of its operations: Read more
Samsung Wallet and Coinbase aim to provide easier access to cryptocurrency for 75 million US Galaxy users, with a global rollout planned for the future. Consumer electronics giant Samsung has expanded its partnership with cryptocurrency exchange Coinbase, allowing its Galaxy smartphone users to buy crypto directly through its native Samsung Wallet. In the first phase, about 75 million Galaxy users in the United States will gain access to Coinbase One, a subscription service that offers zero trading fees, higher staking rewards and account protection for lost funds due to unauthorized access, Coinbase announced Friday. “Together with Samsung, we’re pairing their global scale with Coinbase’s trusted platform to deliver the best value for people to access crypto — starting with more than 75 million Galaxy users across the U.S., and soon around the world,” said Shan Aggarwal, chief business officer at Coinbase. Read more
Coinbase CEO Brian Armstrong has outlined plans to build a crypto super app, offering credit cards, payments and Bitcoin rewards to rival traditional banks. Coinbase CEO Brian Armstrong has said his company’s most ambitious vision is to replace traditional banks by turning Coinbase into a full-service crypto “super app.” Speaking during a recent interview with Fox Business, Armstrong confirmed the company’s plans to offer a full suite of financial services, from payments to credit cards and rewards, all powered by crypto rails. “Yes, we do want to become a super app and provide all types of financial services,” Armstrong said. “We want to become people’s primary financial account and I think that crypto has a right to do that.” Read more
Nearly a decade after losing access to his Coinbase account, NBA star Kevin Durant is once again in control of his Bitcoin holdings, according to the exchange CEO. Nearly 10 years after buying Bitcoin on Coinbase, NBA superstar Kevin Durant has regained access to his holdings thanks to a completed account recovery. The news was announced via an X post by Coinbase CEO Brian Armstrong on Thursday evening. “We got this fixed. Account recovery complete!,” Armstrong wrote. Durant, a 15-time NBA All-Star who will suit up for the Houston Rockets this season, shared the story of his lost Bitcoin (BTC) on Tuesday at the annual Gameplan Summit in Santa Monica. Read more
The crypto exchange integrates Morpho lending into its app, letting USDC users tap DeFi yields of up to 10.8%. Coinbase is rolling out a new way for users to earn yields on their USDC holdings, marking one of the exchange’s first large-scale integrations with decentralized finance (DeFi) at a time of accelerating stablecoin adoption. The company announced Thursday that it is integrating the Morpho lending protocol, with vaults curated by DeFi advisory company Steakhouse Financial, directly into the Coinbase app. The move will allow users to lend USDC (USDC) without navigating third-party DeFi platforms or wallets. Coinbase already pays up to 4.5% APY in rewards for holding USDC on its platform. With the new DeFi lending option, however, users can tap into onchain markets and potentially earn yields of up to 10.8% as of Wednesday, according to Coinbase. Read more
The company’s chief legal officer urged federal officials to push Congress for certain provisions in a pending market structure bill to prevent what it called “state blue-sky laws.” Cryptocurrency exchange Coinbase is pressing the US Department of Justice to step in over state-level crypto enforcement after federal regulators abandoned their case against the company earlier this year. In a 14-page letter sent Monday to the Department of Justice (DOJ), Coinbase Chief Legal Officer Paul Grewal said federal officials should take action in response to state-level enforcement directed against cryptocurrency companies. According to Grewal, the DOJ should urge Congress to “step in and enact broad preemption provisions.” “When Oregon can sue us for services that are legal under federal law, something’s broken,” said Grewal in a Tuesday X post. “This isn’t federalism--this is government run amok.” Read more
Bitcoin futures open interest dropped by $2 billion ahead of this week’s FOMC, but the Coinbase premium index shows traders are determined to defend the $115,000 price level. Key takeaways: Bitcoin futures open interest fell $2 billion in five days, signaling cautious futures traders. Binance taker volume averages cycle lows as the market waits for Fed’s interest rate decision. Read more
A wallet tied to the $300 million Coinbase hack bought 3,976 Ether for $18.9 million, doubling down on ETH amid its recent push above the $4,700 level. A crypto wallet linked to an infamous Coinbase hacker has bought another 3,976 Ether, worth over $18.9 million, at $4,756 per token, according to onchain data. The purchase was made on Saturday, using 18.911 million DAI (DAI), according to data from Arkham Intelligence. The hacker consolidated various DAI amounts, ranging from $80,000 to $6 million, before executing multiple ETH buys. The Coinbase hacker wallet has been under surveillance by blockchain analysts since earlier this year. It’s reportedly tied to a $300 million+ social engineering scam that targeted Coinbase users. Read more
Legal representatives for Coinbase filed a motion for a legal hearing and potential remedies after the SEC failed to comply with FOIA requests. Coinbase is escalating its dispute with US regulators over past communications involving former Securities and Exchange Commission Chair Gary Gensler. Coinbase filed a legal motion on Thursday requesting a hearing to address the SEC Office of the Inspector General’s investigation, which found that the agency deleted nearly one year’s worth of text messages from Gensler and other senior officials in “avoidable” errors. The exchange said the SEC should explain why it did not conduct a full search of agency records, including text messages from Gensler and senior SEC officials, when it requested the messages in several Freedom of Information Act (FOIA) filings from 2023 and 2024. Read more