Coinbase posts seventh straight loss-making quarter despite USDC boost
Coinbase marked its seventh consecutive quarter in which it failed to turn a profit, with the latest figures showing a 4.8% drop in its revenue in Q3.
Coinbase marked its seventh consecutive quarter in which it failed to turn a profit, with the latest figures showing a 4.8% drop in its revenue in Q3.
Tether released its Q3 reserves attestation on Halloween and emphasized in its report was the fiscal reality that Tether ‘asserted’ on September 30.
Coins.ph and Circle's partnership aims to drive awareness of USDC-denominated remittances as a secure, low-cost, and near-instant solution for international money transfers.
In a desperate attempt to revive its revenue, Circle returned its stablecoin to Coinbase's Base blockchain, a so-called "decentralized" network whose reputation is marred by technological woes.
Tether CTO Paolo Ardoino declared that Tether's "exposure in" T-bills has hit $72.5 billion, up from a mere $55.8 billion that Tether claimed to possess at the end of June.
Circle assumes "direct accountability" for USDC following the dissolution of the Centre consortium as a stand-alone entity, with plans to debut the stablecoin to six new blockchains.
Circle's Dante Disparte takes a swipe against Tether over the latter's "unsafe, opaque" operations, while Coinbase seemingly resorts to unethical moves in an attempt to save its plummeting revenue.
Singapore's central bank announced a new regulatory framework for stablecoins that seeks to "ensure a high degree of value stability for stablecoins regulated in Singapore."
USDC is shrinking due to a crisis in confidence, but instead of USDT's market cap plummeting as a result of this, the event sparks growth, questioning the integrity of Tether.
Following the weekend news, Justin Sun tweeted to reassure Tron and Huobi customers that he remained a free man, while Huobi issued a blog post insisting that the exchange "is operating as usual."
The U.S. Securities and Exchange Commission delivered its latest filing to the federal court overseeing its civil charges against Coinbase for listing and offering unregistered securities to the public.
Coinbase customers are complaining about their accounts being closed without any explanation; complaints include quotes from Coinbase that refuse to divulge the justification behind the closures.