Coinbase undercut its 50-day moving average on Monday as bitcoin retreated from highs. Does that make Coinbase stock a buy or sell now? Some may be tempted to buy the dip, but not before running through some key technical indicators.
The chief executive of major bitcoin and crypto exchange Coinbase has predicted when the bitcoin price could flip gold's $18
Frederick Ernest Ehrsam III, a director at Coinbase Global , Inc. (NASDAQ:COIN), has sold shares worth approximately $3.17 million, according to a recent SEC filing. The sale comes as the cryptocurrency exchange company maintains a strong market position with a market capitalization of $70.
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Key Takeaways Coinbase users can now pledge their bitcoin as collateral to take out a loan worth $100,000 in USDC stablecoins after a new service was launched Thursday.These loans can be made via the Coinbase app but will be serviced by DeFi platform Morpho,
Crypto exchange Coinbase (COIN) said it received regulatory approval to offer services to users in Argentina.
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On Tuesday, light truck clean energy solutions provider Worksport Ltd (NASDAQ:WKSP) announced that it had selected Coinbase Global, Inc (NASDAQ:
Coinbase, in partnership with Morpho Labs, has launched a Bitcoin-backed loan service, allowing U.S. users to borrow up to $100,000 in USD Coin (USDC) using their Bitcoin as collateral.
Furthermore, instead of issuing these loans on a blockchain even remotely related to Bitcoin (such as Bitcoin sidechains or Bitcoin L2s), Coinbase is issuing them through Morpho Labs, a DeFi platform best described as an AAVE competitor. While Morpho is a well-established platform—and I don’t doubt its security—it has no connection to Bitcoin.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
Coinbase's setup caps each borrow at $100,000 in USDC. To borrow that much money customers will need to post more than that amount of bitcoin. Morpho will start liquidating the collateral if the loan-to-value ratio flies too close to the sun.