Tag: Coinbase

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Crypto Markets News

Binance Cryptocurrency Exchange Expects Profits Of $1 Billion In 2018

Binance, the renowned cryptocurrency exchange platform, anticipates that its revenues will grow to $1 billion by the end of 2018, according to Binance CEO Changpeng Zhao during an interview with Bloomberg from today, July 6th.

Binance cryptocurrency exchange platform ranked the first today in cryptocurrencies trading volumes

Talking about how Binance platform is recouping after a stressful week in which tradings were momentarily suspended, Zhao revenues estimations defy the idea that the profits of cryptocurrency exchanges are dependent on the cryptos prices. For example, although Bitcoin (BTC) is under $7,000 for nearly a month and a half now, Binance’s profits for the first half of the year was around $300 million, according to Zhao.

Binance, which consistently ranks at the top of the world’s most significant daily cryptocurrencies trading volumes, is now #1 with approximately $1.2 billion in transactions in the last 24 hours.

Binance profits estimations encourage the company to extend its operations around the world

The tremendous gains of $1 billion, estimated by Binance for this year, are fuelling an aspirational expansion agenda that will shortly include Binance’s emergence on markets such as Uganda and Bermuda. That after Binance cryptocurrency exchange platform moved its headquarters to Malta, a crypto-friendly country, to avoid strict cryptocurrency regulations, earlier this year.

On the other hand, there are currently approximately 10 million users on the platform, according to Zhao, Binance CEO.

Binance expansion plans are not devoid of competition, too, as other major cryptocurrency exchange platforms, such as Huobi and Coinbase, are also entering new markets. For example, just yesterday, Huobi rolled out in Australia and planned to commence operations in London in the Q3 2018, while services in the United States will also begin in the foreseeable future.

Coinbase, in the meantime, is considering moving its headquarters to Japan and is still waiting for a US banking license.

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Crypto News

Ripple (XRP) And Zcash (ZEC) Might Get On Coinbase

Ripple (XRP) and Coinbase rumors are still alive today, although this time some actual evidence is in the background of the speculations. According to some of the most recent news in this regard, it looks like Ripple (XRP) and Zcash (ZEC) might indeed be the next two cryptos to be added by the Coinbase cryptocurrency exchange platform.

As we’ve learned already, any cryptocurrency that reaches Coinbase cryptocurrency exchange platform benefits from it to the maximum, with greater adoption, increased trading volumes, and, eventually, its price would surge. That kind of exposure is what Ripple (XRP) wants for a long time now but without any luck. The same is also applicable for Zcash (ZEC).

Coinbase launched a new cryptocurrency donation platform which accepts XRP and ZEC, among others

Coinbase CEO Brian Armstrong has recently launched a new cryptocurrency charitable platform entitled Givecrypto.org. In this way, crypto holders can give away cryptos to help people experiencing a financial crisis.

Nevertheless, what’s very interesting regarding this new crypto donation platform is the cryptocurrencies that are accepted. The complete list includes Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Zcash (ZEC).

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) are already listed on Coinbase cryptocurrency exchange, while Ripple (XRP) and Zcash (ZEC) aren’t.

Ripple (XRP) and Zcash (ZEC) could get on Coinbase cryptocurrency exchange platform

At the moment, nothing is suggesting that XRP and ZEC will make to Coinbase crypto exchange, as Coinbase is only connected to Givecrypto.org in the “background.” However, it would make sense for that to indeed happen, and here’s why.

The very list of accepted cryptocurrencies on Givecrypto.org indicates that Coinbase team knows that Ripple (XRP) and Zcash (ZEC) are two of the most-traded cryptos on the market, and both XRP and ZEC holders can give away some of their coins for a “noble cause.”

But, wouldn’t be stupid, to put it that way, that Coinbase to not list XRP and ZEC, thus, permitting users of Givecrypto.org to buy their Ripple (XRP) and Zcash (ZEC) from another place than Coinbase cryptocurrency exchange platform? In my opinion, Coinbase wants more and more trades and big investors, so they will soon ad both XRP and ZEC.

And, in the end, I guess listing Ripple (XRP) and Zcash (ZEC) on its subsidiary charity platform, Givecrypto.org, suggests that Coinbase plans to add these two very loved crypto soon.

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Crypto

EOS (EOS) And Ripple (XRP) Might Never Be Listed On Coinbase Cryptocurrency Exchange Platform

At this moment, two of the most popular and appreciated crypto coins are EOS (EOS) and Ripple (XRP). However, the Coinbase cryptocurrency exchange platform is practically forgetting about these cryptos, disappointing many members of the crypto community who were expecting to see EOS and XRP listed on the renowned US-based crypto trading platform.

However, Coinbase has a few solid reasons why it’s avoiding listing EOS (EOS) and Ripple (XRP).

One of these reasons is that an investment in Ripple (XRP) and EOS (EOS) crypto coin would not be as reliable and profitable as investing in Ripple and Block.one companies. On the other hand, the debate of which crypto tokens are securities and which aren’t is also a reason why Coinbase doesn’t want to deal with EOS and XRP, at least for the moment.

Some cryptocurrency traders and crypto community enthusiasts are still hoping Coinbase will list Ripple (XRP) and EOS (EOS) but, unfortunately, this might never be the case.

EOS (EOS) and Ripple (XRP) might never be listed on Coinbase cryptocurrency exchange platform

First, the US SEC shows no signs of dealing with the situation surrounding EOS and XRP and this regulatory acts against Ripple is not something in which Coinbase would like to get itself involved. This situation, corroborated by the negative experiences Coinbase cryptocurrency exchange platform has had with other crypto coins, is what makes the renowned platform to keep a safe distance from XRP and EOS.

Also, Coinbase would like to get involved on the mainstream stock market, as well as to attract more institutional investors. Also in this regard, an EOS (EOS) and Ripple (XRP) listing would not help Coinbase due to the regulatory situation surrounding the two digital assets.

On the other hand, new and small-time investors will pop up immediately if Coinbase would announce the addition of EOS and XRP, and that will lead to EOS (EOS) and Ripple (XRP) prices to spike and then to dump. People would then blame Coinbase, definitely something that the most renowned US-based cryptocurrency exchange platform wouldn’t like to happen.

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Crypto Markets

Coinbase Acquired Keystone Brokerage Firm And Circle P2P Payments Platform Seeks Banking License

The renowned cryptocurrency exchange, Coinbase, continues to make its way to emerge on the traditional stock market. Already one of the world’s leading Bitcoin (BTC) and other cryptocurrency trading platform, Coinbase has acquired the California-based securities brokerage firm Keystone.

While the details of the agreement are not yet known, speculation is growing that it is the first step for the cryptocurrency-related firm to offer products based on digital assets in the form of shares, in the future.

Keystone Capital Corp. is a US FINRA registered broker and is licensed to operate as an investment advisor, as well as to operate an alternative trading system, or ATS.

For Coinbase, which currently markets only the most capitalized cryptocurrencies on the market, the acquisition of Keystone could open up new business opportunities and allow it to offer its services to institutional investors with ease. Also, the acquisition of Keystone also increases the possibility that Coinbase may, in the future, expand on Wall Street.

But first, Coinbase will need regulatory approval to operate under Keystone’s licenses. President and COO Asiff Hirji said Coinbase is confident that he will get approval from the authorities. The company has advanced that in a matter of several months it will be able to integrate Keystone’s operations, once it obtains such approvals.

While Coinbase acquired Keystone, Goldman Sachs’ Circle P2P payments platform pursues a federal banking license

Coinbase movement is not the only one of this kind that has taken place in the last few hours.

Also, the P2P Circle payment platform, supported by Goldman Sachs in one of its final rounds of funding, pursues a federal banking license with the Office of the Currency (OCC) and registration as a brokerage and trading venue with the US Securities and Exchange Commission (SEC).

According to Coin Telegraph, Jeremy Allaire, CEO of Circle, has said that the platform first seeks the approval of the SEC and, to that end, has already withdrawn the tokens that do not confirm the US supervisor’s guidelines for the Poloniex cryptocurrency exchange platform, which they acquired for $400 million in late February.

Experts point out that Wall Street is taking small steps to give space to cryptocurrencies, thus the news that Coinbase acquired Keystone and Circle P2P payments platform seeks officials’ recognition shouldn’t come as a surprise.

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Crypto

Ripple (XRP) Might Get On Coinbase, As The Renowned Cryptocurrency Exchange Plan On Moving To Japan

According to news releases this morning, Coinbase, the cryptocurrencies market leader in cryptocurrency exchange platform, will relocate to Japan to commence expanded activities in the Asian country. Naturally, Japan is widely regarded as the homeland of cryptocurrencies and blockchain technology, mostly via the huge volume of investors and crypto enthusiasts living in Japan. Even though this information is not unexpected, a sudden move like this one would have huge repercussions for most of the cryptocurrencies communities. Even more, Ripple (XRP) might indeed reach Coinbase thanks to this move.

Like we are aware already, cryptocurrency exchange platforms operating on the Japanese territory must be licensed and obey a series of crypto regulations designed to protect security and integrity of both cryptocurrencies and investors. Thus, the Japanese regulations are not at all created to hinder the operations of cryptocurrency exchange platforms.

Thus, before moving its activity on Japanese soil, Coinbase cryptocurrency exchange must work to obtain a valid license and once it has been acquired Coinbase operations must comply with the Japanese crypto regulations.

Ripple (XRP) might eventually get on Coinbase cryptocurrency exchange, as the latter plans on moving to Japan

This recent news that Coinbase cryptocurrency exchange will move to Japan has ignited many speculations. Among them, however, one is quite plausible, namely, Ripple (XRP) might now get on Coinbase.

Above all, Ripple (XRP) is a very appreciated coin in Japan where it is, at the same time, the most used cryptocurrency, therefore, would be a smart move from Coinbase to list XRP, as soon as it moves its operations on Japanese soil.

From Ripple’s point of view, however, Ripple (XRP) addition on Coinbase would significantly surge XRP’s price against the USD, as well as its adoption. In the meantime, Ripple (XRP) won’t get on Coinbase as long as Coinbase keeps its business in the US and XRP is considered a security by the US regulators.

Therefore, as soon as Coinbase cryptocurrency exchange moves its operations to Japan, Ripple (XRP), the most used crypto coin on Japanese territory, might be listed.

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