{"id":"coinbase","title":"Coinbase","content":"**Coinbase** is a centralized [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange platform for buying, selling, transferring, and storing cryptocurrencies such as [Bitcoin](https://iq.wiki/wiki/bitcoin), [Bitcoin Cash](https://iq.wiki/wiki/bitcoin-cash), [Ethereum](https://iq.wiki/wiki/ethereum), [Ethereum Classic](https://iq.wiki/wiki/ethereum-classic), [Litecoin](https://iq.wiki/wiki/litecoin), and many more. In late 2025, the company expanded its offerings to include traditional financial assets, such as stocks, as part of its vision to become an \"Everything Exchange\".[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM) Coinbase is the largest crypto exchange in the United States.[\\[1\\]](#cite-id-h8ypqj07b24)​[\\[2\\]](#cite-id-5iu6nb1ocki)​[\\[23\\]](#cite-id-1n90rzhhq03)​[\\[24\\]](#cite-id-j9d5fr24lzo)\n\n[YOUTUBE@VID](o9TZCCE6l3E)\n\n## Overview\n\nFounded in 2012, Coinbase is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) trading platform that allows users to buy, sell, transfer and convert various cryptocurrencies. Similar to stock trading apps, Coinbase provides users with real-time price information, trends, portfolio tracking, and industry news. Coinbase became the first major crypto business to go public in the U.S. and offers a user-friendly interface for individuals to participate in the cryptocurrency market. In line with its goal to become an \"Everything Exchange\", the platform began integrating traditional assets like stocks and new products such as prediction markets in late 2025.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)​\n\nTo get started with Coinbase, users need to download the app, create an account, provide necessary information for compliance with regulations, and link their bank account for purchasing cryptocurrencies. On top of their main platform, they have released multiple products and services such as Coinbase Pro, Coinbase wallet, [Coinbase NFT](https://iq.wiki/wiki/coinbase-nft), and more, to expand their customer base. [\\[14\\]](#cite-id-3zuw79n176g)​[\\[49\\]](#cite-id-7ib9y54ybv5)​\n\n## History\n\n### Early Beginnings (2012-2016)\n\n#### Founding and Inception\n\nCoinbase was founded in June 2012 by [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) and [Fred Ehrsam](https://iq.wiki/wiki/fred-ehrsam). Blockchain.info co-founder Ben Reeves was part of the original founding team but later parted ways with Armstrong due to a difference in how the Coinbase wallet should operate. The remaining founding team enrolled in the Summer 2012 Y Combinator startup incubator program.\n\n#### Initial Steps\n\nIn October 2012, the company launched the services to buy and sell [Bitcoin (BTC)](https://iq.wiki/wiki/bitcoin-btc) through bank transfers.\n\n##### First Investments and Expansion\n\nIn May 2013, the company received a $5 million Series A investment led by Fred Wilson from the venture capital firm [Union Square Ventures](https://iq.wiki/wiki/union-square-ventures).\n\nIn December 2013, the company received a $25 million investment, from the venture capital firms [Andreessen Horowitz](https://iq.wiki/wiki/andreessen-horowitz), Union Square Ventures (USV), and Ribbit Capital. [\\[3\\]](#cite-id-o38y82rp7ih)​\n\n![coinbase-guys.jpg](https://ipfs.everipedia.org/ipfs/QmWUciZnBgX7xo8FoxsAZLxyVawEr4BuB3pN3LuBDsdXeH \"coinbase-guys.jpg\")\n\n*Coinbase raises $75m Series C in largest round ever for a Bitcoin startup*\n\n#### Scaling and Recognition\n\nAs Coinbase's user base expanded to one million in 2014, it acquired Blockr, a blockchain explorer service, and Kippt, a web bookmarking company. The company also ventured into partnerships with notable names like Overstock, Dell, Expedia, Dish Network, and Time Inc. These alliances enabled these firms to embrace [Bitcoin](https://iq.wiki/wiki/bitcoin) payments. Simultaneously, Coinbase integrated [Bitcoin](https://iq.wiki/wiki/bitcoin) payment processing into established players like Stripe, Braintree, and PayPal.\n\n#### Ventures and Growth\n\nIn January 2015, the company received a $75 million investment, led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banks. Later in January, the company launched a U.S.-based bitcoin exchange for professional traders called Coinbase Exchange. Coinbase began to offer services in Canada in 2015,  but in July 2016, Coinbase announced it would halt services in August after the closure of its Canadian online payments service provider Vogogo[\\[4\\]](#cite-id-fs17rqmden).\n\n#### Rebranding to Global Digital Asset Exchange (GDAX)\n\nIn May 2016, Coinbase underwent a rebranding of its Coinbase Exchange service as it introduced support for [Ether (ETH)](https://iq.wiki/wiki/ether-eth), the native cryptocurrency of the Ethereum network. The exchange was renamed to GDAX (Global Digital Asset Exchange), symbolizing the platform's evolution to encompass a broader range of digital assets beyond [Bitcoin](https://iq.wiki/wiki/bitcoin). The decision to rebrand was prompted by Coinbase's engagement with the [Ethereum](https://iq.wiki/wiki/ethereum) community, driven by conversations with Ethereum's creator, [Vitalik Buterin](https://iq.wiki/wiki/vitalik-buterin), and Microsoft Azure's involvement in the Ethereum ecosystem. [\\[53\\]](#cite-id-dpi1xavauz5)​\n\n### Transformation and Adaptation (2017-2020)\n\n#### Expansion and Regulatory Compliance\n\nIn January and then March 2017, Coinbase obtained BitLicense and was licensed to trade in [Ethereum](https://iq.wiki/wiki/ethereum) and [Litecoin](https://iq.wiki/wiki/litecoin) from the New York State Department of Financial Services (DFS). Additionally, in November 2017, Coinbase was ordered by the US Internal Revenue Service to report any users who had at least $20,000 in transactions in a year and demonstrated their commitment to transparency as they agreed to comply with the requirements. [\\[5\\]](#cite-id-b01ffhibree)​\n\n#### Challenges and Resilience\n\nOn February 16, 2018, Coinbase admitted that some customers were overcharged in error for credit and debit purchases of cryptocurrencies. The problem was initiated when banks and card issuers changed the merchant category code (MCC) for [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) purchases earlier this month. This meant that cryptocurrency payments would be processed as \"cash advances\", meaning that banks and credit card issuers could begin charging customers cash advance fees for cryptocurrency purchases. Any customers who purchased cryptocurrency on their exchange between January 22 and February 11, 2018, could have been affected.\n\nAlthough initially attributed to Coinbase, it was later clarified that the issue was not caused by the platform and the platform promised to refund all affected customers in full. [\\[54\\]](#cite-id-rexod6z4tuo)​\n\n> “Coinbase will ensure that each affected customer will be refunded in full for any erroneous charge. Our processor confirmed that any erroneous charges will be refunded over the next few days.”\n\nIn another instance, on February 23, 2018, the IRS requested historical transaction records from select users, indicating the regulatory complexities inherent in the cryptocurrency space. The company informed approximately 13,000 affected customers about its compliance with the summons received from the IRS concerning their Coinbase accounts.\n\nThe legal case, United States v. Coinbase, Inc., revolved around the IRS's request for records related to [Bitcoin](https://iq.wiki/wiki/bitcoin) transfers from 2013 to 2015. Initially sought for all records, the court later specified the data to be released, encompassing taxpayer ID numbers, names, birth dates, addresses, transaction logs, and account statements. [\\[55\\]](#cite-id-ibax9gu48g9)​\n\n#### Coinbase Ventures Launch\n\nOn April 5, 2018, Coinbase unveiled the establishment of Coinbase Ventures, an early-stage venture fund focused on investments in [blockchain](https://iq.wiki/wiki/blockchain) and cryptocurrency-related startups. The initiative aimed to foster innovation and growth within the digital asset landscape by providing financial backing and support to promising companies in the blockchain sector. Following the launch, on May 16, 2018, Coinbase Ventures announced its first investment in [Compound Labs](https://iq.wiki/wiki/compound), a start-up building [Ethereum](https://iq.wiki/wiki/ethereum) [smart contracts](https://iq.wiki/wiki/smart-contract) similar to money markets. [\\[56\\]](#cite-id-btnq6n0c1tc)​[\\[27\\]](#cite-id-xamjei9qz7s)​\n\n#### Coinbase Pro Launch\n\nOn May 23, 2018, Coinbase announced the launch of Coinbase Pro. Coinbase Pro is an evolution of Global Digital Asset Exchange (GDAX), specifically designed for individual [crypto](https://iq.wiki/wiki/cryptocurrency) traders. GDAX and Coinbase Pro operated side-by-side until June 29, 2018, with activity mirrored on both platforms. After June 29, all customers were rolled over to Coinbase Pro. Users of Coinbase Pro still have direct market access to Coinbase Markets, the single pool of liquidity shared by all Coinbase products. Speaking about Coinbase Pro, the team said:\n\n> Coinbase Pro is more than a new name — it’s a recognition that the crypto trader requires a product completely dedicated to their specific needs\n\n[YOUTUBE@VID](3AYH5Ol9QT8)\n\nIn August 2018, Amazon cloud executive Tim Wagner joined Coinbase as vice president of engineering. [\\[28\\]](#cite-id-9f30rhqnbz)​\n\n#### Neutrino Acquisition\n\nIn February 2019, Coinbase announced that it had acquired \"blockchain intelligence platform\" [Neutrino](https://iq.wiki/wiki/neutrino), an Italy-based startup, for an undisclosed price. The acquisition raised concern among some Coinbase users based on Neutrino founders' connection to the Hacking Team, which has been accused of providing internet surveillance technology to governments with poor human rights records.\n\nOn March 4, 2019, Coinbase CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) said his company \"did not properly evaluate\" the deal from a due diligence perspective and thus any [Neutrino](https://iq.wiki/wiki/neutrino) staff who previously worked in the Hacking Team \"will transition out of Coinbase.\" Amid their reflection upon the premature acquisition of Neutrino, they faced a hacking attempt in mid-July where they had to pause all [\\[7\\]](#cite-id-ya3a4kdw2qh)​\n\n#### Coinbase Defends Against Advanced Hacking Attempt\n\nIn August 2019, Coinbase announced that it was targeted by a sophisticated hacking attack attempt in mid-June. This reported attack used spear-phishing and social engineering tactics (including sending fake e-mails from compromised email accounts and creating a landing page at the University of Cambridge) and two Firefox browser zero-day vulnerabilities. One of the Firefox vulnerabilities could allow an attacker to escalate privileges from JavaScript on a browser page (CVE-2019–11707) and the second one could allow the attacker to escape the browser sandbox and execute code on the host computer (CVE-2019–11708).\n\nCoinbase's security team detected and blocked the attack, the network was not compromised, and no [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) was stolen.[\\[8\\]](#cite-id-1jyxa3p4nqr)​[\\[29\\]](#cite-id-9e7l2eteki5)​\n\n#### Adapting to the Pandemic\n\nIn May 2020, during the Coronavirus (COVID-19) pandemic, [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong), CEO and co-founder of Coinbase, announced it would become \"remote-first\" allowing employees the option to work from home for \"the vast majority of roles.\" \"Forgoing a formal headquarters is also more in line with the spirit of crypto, built on the inherent benefits of decentralization,\" he said in a blog post.[\\[30\\]](#cite-id-p11vlsoae8)​\n\n#### Tagomi Acquisition\n\nIn May, Coinbase announced that it acquired Tagomi, an upstart firm that specialized in crypto trading for institutional clients, in an all-stock deal. According to Coinbase Chief Operating Officer [Emilie Choi](https://iq.wiki/wiki/emilie-choi), Tagomi will initially operate as a stand-alone brand, but over time, it would likely be folded into Coinbase Pro, a service that caters to professional traders.[\\[12\\]](#cite-id-k92jevdgtlk)​\n\n#### BLM Controversy\n\nIn June 2020, a group of Coinbase employees walked out after CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) who did not immediately make a public statement in support of Black Lives Matter (BLM). Armstrong wrote that Coinbase will not engage in political activism beyond issues that directly impact the company and that employees shouldn't engage in political discussions at work.\n\nLater, Armstrong posted a series of Twitter messages in support of BLM. In addition, he sent emails to employees apologizing for his handling of the topic and assuring them of the company's commitment to an inclusive workplace (including specific actions). Company executives later held a meeting with its internal group for black employees.[\\[31\\]](#cite-id-jccf1ltau9c)​\n\n##### CEO's Response\n\nIn September 2020, [Armstrong](https://iq.wiki/wiki/brian-armstrong) published a blog post emphasizing that Coinbase would not engage in social activism, citing that such activism had hurt other technology firms such as Google and Facebook, and offered a severance package for those who disagreed with this direction. The blog post highlighted that Coinbase is \"laser-focused\" on achieving their goal on building and providing services. [\\[57\\]](#cite-id-4xvr4ck1usc)​\n\n> In short, I want Coinbase to be laser focused on achieving its mission, because I believe that this is the way that we can have the biggest impact on the world. We will do this by playing as a championship team, focus on building, and being transparent about what our mission is and isn’t.\n\n#### Coinbase Visa Card Launch\n\nIn October 2020, Coinbase announced the launch of a Visa debit card program for US customers. Previously, the card was only available in Europe. The Coinbase Card eliminates the middleman, pulling funds directly from a user's Coinbase account. The Coinbase Card supports more than 30 [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), according to the company (and converts everything to US dollars before completing purchases and ATM withdrawals).[\\[13\\]](#cite-id-8qxsr198hms)​\n\n### Recent Developments (2021 - 2022)\n\n#### Direct NASDAQ Listing\n\nIn January 2021, Coinbase announced that it will go public via a direct listing rather than through a traditional Initial Public Offering (IPO). It followed companies such as Spotify, Slack, and Palantir Technologies, choosing to let existing investors sell into the open market rather than raise fresh capital.[\\[25\\]](#cite-id-kstae2eykx)​\n\nAhead of its direct listing, Nasdaq gave Coinbase a reference price of 100 billion before shares closed at a lower price.[\\[11\\]](#cite-id-zgrdyc7ejeb)​\n\n![image](https://ipfs.everipedia.org/ipfs/QmapUnLyLMNoTQHb3ZRosGe4NNC7ajr3c2Xq8BP9qcpyFY \"image\")\n\n#### Coinbase’s Super Bowl Ad\n\nOn February 13, 2022, Coinbase released a new commercial featuring a bouncing QR code during the Sunday Super Bowl, the annual playoff championship game of the NFL. The commercial was so well received that it caused Coinbase's website's servers to experience a temporary downtime due to a massive influx. Over 20 million people visited Coinbase’s landing page in a single minute after its floating QR code captivated Super Bowl viewers. The Crypto Bowl featured ads from [Coinbase](https://iq.wiki/wiki/coinbase), [FTX](https://iq.wiki/wiki/ftx), [Crypto.com](https://iq.wiki/wiki/cryptocom), and eToro. Combined, Coinbase, eToro, and FTX saw their U.S. installs grow by a collective 279% on February 13 compared to the week prior. This continued into the following day when week-over-week download growth reached 252%.[\\[32\\]](#cite-id-wav2om4vb9a)​[\\[33\\]](#cite-id-wahptwlwwx)​\n\n[YOUTUBE@VID](eIUD_NE1BDo)\n\n#### Filing to go Public with SEC\n\nIn February 2021, Coinbase Global Inc. filed to go public with the U.S. Securities and Exchange Commission. In March, Coinbase disclosed certain of its transactions are \"under review\" by the Department of the Treasury's Office of Foreign Assets Control for potential violations of U.S. sanctions laws. Later, Coinbase agreed to pay $6.5 million to settle regulatory claims that it reported misleading information about its trading volumes. [\\[9\\]](#cite-id-sg22e7fbp2)​\n\n#### International Outreach\n\nIn March 2021, Coinbase started establishing a business presence in India by housing some IT services, including engineering, software development, and customer support operations. They actually announced their plans to open a physical office, initially in Hyderabad, for Indian employees as COVID-related conditions allow. [\\[58\\]](#cite-id-ginty5lpt)​\n\nOn August 18, 2022, Coinbase announced its launch in Japan which is in line with its global strategy. They aim to be the easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations. Alongside the launch, they also announced their partnership with Mitsubishi UFJ Financial Group (MUFG) — one of the largest banks in Japan serving 40 million Japanese customers.[\\[34\\]](#cite-id-rzr77s143rd)​\n\n#### Coinbase NFT Launch\n\nOn April 20, 2022, announced the release of the [Coinbase NFT](https://iq.wiki/wiki/coinbase-nft) beta. Beta testers were able to create a Coinbase NFT profile to buy and sell NFTs using the Coinbase Wallet or any self-custody wallet and transaction fees were initially not added. The following month, on May 4th, 2022, Coinbase NFT was officially launched, aiming to broaden its user base.[\\[35\\]](#cite-id-kahvxiu4t5b)​[\\[47\\]](#cite-id-l7ooq7qoaqe)​\n\nOn July 1, 2022, Coinbase introduced its NFT Dapp Starter Kit for developers that can be used to kickstart dapp development for NFT minting sites. With the help of this open-source kit, developers of any skill level may quickly start up new NFT applications, embracing the collaborative nature of web3 and being compatible with both the [Ethereum](https://iq.wiki/wiki/ethereum) [Mainnet](https://iq.wiki/wiki/mainnet) and EVM-compatible chains.[\\[37\\]](#cite-id-j3h25824aoq)​\n\nOn September 28, 2022, [Chainlink Labs](https://iq.wiki/wiki/chainlink) partnered with Coinbase Cloud to launch NFT Floor Pricing Feeds, allowing developers to deploy unique [smart contracts](https://iq.wiki/wiki/smart-contract) across [DeFi](https://iq.wiki/wiki/defi) use cases and more with high-quality pricing data and an optimal liquidity profile.[\\[38\\]](#cite-id-i79dkq0pniq)​\n\n#### Coinbase’s $1m Donation\n\nOn June 1, 2022, Coinbase in collaboration with [Gitcoin](https://iq.wiki/wiki/gitcoin) announced its support for digital public goods that support open-source protocols. With a $1 million commitment, Coinbase has contributed one of the largest single donations to the public goods treasury in Gitcoin history funded jointly by Coinbase Giving and Coinbase Cloud. Coinbase joined the [Ethereum Foundation](https://iq.wiki/wiki/ethereum-foundation-ef), [ENS](https://iq.wiki/wiki/ens), [Optimism](https://iq.wiki/wiki/optimism), [NounsDAO](https://iq.wiki/wiki/nouns-dao), and [Polygon](https://iq.wiki/wiki/polygon) as one of the largest donors helping support the crypto economy's infrastructure.[\\[36\\]](#cite-id-pgh270vvebb)​\n\n![image](https://ipfs.everipedia.org/ipfs/QmXYZ5rijdJHYjo5J1fpHUXMf6rj95hpCejKQxYkcZEJpf \"image\")\n\n#### Coinbase Pro Removal\n\nOn June 22nd, 2022, Coinbase announced that it would be getting rid of Coinbase Pro and merging its advanced trading features into one unified Coinbase account. Since the release of Coinbase Pro in 2018, the company has added advanced features to Coinbase.com and the Coinbase app, which overlap with Coinbase Pro. Thus, in order to provide a simple platform, Coinbase has rebuilt the full Coinbase Pro advanced trading experience within the Coinbase mobile app and Coinbase.com and released a new feature called Advanced Trade. [\\[45\\]](#cite-id-uno3bn2ta1e)​\n\nAdvanced Trade has the same capabilities as Coinbase Pro, but is integrated more seamlessly into the Coinbase experience. Coinbase plans to continue adding features to Advanced Trade before retiring Coinbase Pro later this year. Customers will still have access to Coinbase Pro until the retirement date, and their funds will remain safe on Coinbase. Coinbase will notify customers of concrete dates for sunsetting Coinbase Pro when they are ready. [\\[45\\]](#cite-id-uno3bn2ta1e)​[\\[46\\]](#cite-id-cdhdgi4intn)​\n\nOn November 14th, 2022, Coinbase started migrating all Coinbase Pro users to Advance Trade on Coinbase and have provided a step-by-step guide to do so. [\\[45\\]](#cite-id-uno3bn2ta1e)​\n\n#### Anonymous Petition\n\nAn anonymous petition created by Coinbase employees has called for the removal of its Exces amid the underwhelming launch of [Coinbase NFT](https://iq.wiki/wiki/coinbase-nft) and other missteps.\n\nIn June 2022, a petition was made public, which calls to remove COO [Emilie Choi](https://iq.wiki/wiki/emilie-choi), Chief Product Officer Surojit Chatterjee, and Chief People Officer LJ Brock in a vote of no confidence from the biggest [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange in the U.S.\n\nIt lists eight reasons for the vote of no confidence, including “the failure of the [Coinbase NFT ](https://iq.wiki/wiki/coinbase-nft)platform,” \"aggressively hiring for thousands of roles, although it is an unsustainable plan,” and “toxic workplace culture.\" CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) took to his Twitter account to address the petition stating \"This is really dumb on multiple levels.\"[\\[72\\]](#cite-id-jn3d20owz2)​[\\[83\\]](#cite-id-aACMXwssf3)​\n\n#### Petition for new rules to the SEC\n\nOn July 21, 2022, Coinbase submitted a petition to the SEC titled \"Petition for Rulemaking – Digital Asset Securities Regulation.\" The petition urged the SEC to establish regulations for digitally traded securities, emphasizing the unique characteristics of these assets compared to traditional instruments. Coinbase, aligning with regulatory compliance, advocates for new rules to address the evolving nature of digital asset securities. The petition underscores the necessity for regulatory clarity in response to the current absence of a functional market for these securities in the U.S.[\\[60\\]](#cite-id-f0hunhmvsz)​\n\n### 2023\n\n#### Coinbase Lays Off 20% of Workers\n\nOn January 10th, 2023, Coinbase announced that they would be laying off 950 employees, or around 20% of its workforce, due to the continued downturn in the [crypto](https://iq.wiki/wiki/cryptocurrency) market and the broader economy. The company said that the first round of layoffs wasn't enough to keep the company in a good financial position during an ongoing crypto winter and that it would need to reduce expenses to increase its chances of doing well in every scenario. As part of the reduction in force, Coinbase is also \"shutting down several projects where we have a lower probability of success.\" [\\[41\\]](#cite-id-ddtglshcf4)​\n\nCoinbase CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) has blamed \"unscrupulous actors in the industry\" for the volatility and \"contagion\" in the market, which is seen as a veiled swipe at [FTX](https://iq.wiki/wiki/ftx), a former major player in the crypto space, whose founder [Sam Bankman Fried](https://iq.wiki/wiki/sam-bankman-fried) is now facing several criminal charges. The hope is that [Bitcoin](https://iq.wiki/wiki/bitcoin) and other crypto prices may start to stabilize, especially if financial regulators start to provide more guidance and clarity about their stance on cryptos. [\\[41\\]](#cite-id-ddtglshcf4)​\n\nDespite the negative reception from the public regarding the controversy, [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) has stated that this move was to increase efficiency within the team working behind Coinbase. [\\[42\\]](#cite-id-v4xna1nnwid)​\n\n> “we need to make sure we have the appropriate operational efficiency to weather downturns in the crypto market, and capture opportunities that may emerge.” - \\[Brian Armstrong] - (\\[\\[<https://iq.wiki/wiki/brian-armstrong>] - (<https://iq.wiki/wiki/brian-armstrong>)] - (\\[<https://iq.wiki/wiki/brian-armstrong>] - (<https://iq.wiki/wiki/brian-armstrong>)))\n\nThe employees in the US who were laid off were to receive a minimum of 14 weeks base pay severance (with two additional weeks per year worked), health insurance, and other benefits, and \"transition support\" was also to be given to impacted employees who had work visas, according to Armstrong. [\\[41\\]](#cite-id-ddtglshcf4)​\n\n#### SEC Warning\n\nOn March 23rd, 2023, the Securities and Exchange Commission (SEC) issued a Wells notice to Coinbase, warning the crypto exchange that it may have violated US securities law. This notice is typically one of the final steps before the SEC formally issues charges. The chief legal officer of Coinbase, [Paul Grewal](https://iq.wiki/wiki/paul-grewal) said the warning wouldn't mean any changes to the exchange's current products or services. [\\[43\\]](#cite-id-lxv1y4ytb1i)​\n\n> “If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets. Until then, it’s business as usual.\" - \\[Paul Grewal] - (\\[\\[<https://iq.wiki/wiki/paul-grewal>] - (<https://iq.wiki/wiki/paul-grewal>)] - (\\[<https://iq.wiki/wiki/paul-grewal>] - (<https://iq.wiki/wiki/paul-grewal>)))\n\nAccording to a regulatory filing, the potential civil action may seek injunctive relief, disgorgement, and civil penalties related to aspects of the Company's spot market, [staking](https://iq.wiki/wiki/staking) service Coinbase Earn, Coinbase Prime, and Coinbase Wallet. Coinbase executives, including founder and CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong), have pushed back against perceived overreach by the SEC and instead have asked for more clarity in terms of the regulations behind the crypto industry. [\\[44\\]](#cite-id-pmsplxl6dlh)​\n\n> “Tell us the rules and we will follow them. Give us an actual path to register, and we will register the parts of our business that need registering.” - \\[Paul Grewal] - (\\[\\[<https://iq.wiki/wiki/paul-grewal>] - (<https://iq.wiki/wiki/paul-grewal>)] - (\\[<https://iq.wiki/wiki/paul-grewal>] - (<https://iq.wiki/wiki/paul-grewal>)))\n\n#### SEC Charges\n\nOn June 6, 2023, the Securities and Exchange Commission (SEC) charged Coinbase with operating as an unregistered national securities exchange, broker, and clearing agency. The SEC alleges that Coinbase has been facilitating the buying and selling of crypto asset securities without registering its functions as required by law. Coinbase is accused of providing exchange services, executing securities transactions, and acting as a securities depository without proper registration. The SEC claims that Coinbase's failure to register has deprived investors of essential protections.\n\nAdditionally, Coinbase has been charged for conducting unregistered security offerings through its staking-as-a-service program, which allows customers to earn profits from [blockchain](https://iq.wiki/wiki/blockchain) transaction validation services. Coinbase allegedly failed to register its offers and sales of this program as required by law. The SEC seeks injunctive relief, disgorgement of ill-gotten gains, penalties, and other equitable relief in the case. The SEC's investigation involved the assistance of state securities regulators from ten states.[\\[48\\]](#cite-id-xqvmgy9vnsp)​\n\n#### Coinbase wins approval to offer crypto futures trading in US\n\nOn August 16, 2023, Coinbase, has became the first regulated entity in the country to offer both spot trading and [futures](https://iq.wiki/wiki/futureswap) derivatives in the cryptocurrency space. Coinbase CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) said:\n\n> \"Major moment for crypto regulatory clarity in the U.S. This has been a multi-year process toward approval, and we're excited to finally be launching federally regulated crypto derivatives with margin to our U.S. customers. When there is a clear path to register, we do, \"\n\nThe approval marked a major step towards regulatory clarity in the U.S., coming nearly two years after Coinbase applied to become a registered Futures Commission Merchant (FCM) in September 2021. Derivatives constitute nearly 75% of all crypto trading activity worldwide.\n\n#### Stand with Crypto Alliance Launch\n\nOn August 14, 2023, Coinbase announced the launch of Stand with Crypto Alliance, an advocacy organization dedicated to getting the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) community involved in the legislative process in the United States. Chief Policy Officer, Faryar Shirzad made the announcement in a post on the Coinbase Blog which began:\n\n> With more than 50 million Americans holding a digital asset, crypto is bigger than Coinbase. Today, with the launch of the Stand with Crypto Alliance, the crypto community will be unleashed as a core constituency in the legislative process. In particular, the Stand With Crypto Alliance will leverage the underlying technology of the blockchain to help organize the community into a powerful voice advocating for policies that will update our financial system and support economic empowerment. The Alliance is the nation’s first ever independent and onchain advocacy organization, powered by and for crypto supporters. \n\nThe alliance shares NFT rewards, educational resources, and updates on crypto policy with its members. In under a week, over 57,000 people joined the organization as crypto advocates. [\\[59\\]](#cite-id-r448ro5bny)​\n\n#### SEC ruling on Coinbase petition\n\nAfter a prolonged wait since 2022, Coinbase took the SEC to court in April. Compelled to rule on Coinbase’s petition for tailored crypto regulations, the Securities and Exchange Commission (SEC) issued a rejection on December 15, 2023. The SEC, with a 3-2 vote, asserted that there is no pressing need for new regulations in the [crypto](https://iq.wiki/wiki/cryptocurrency) space.\n\n> “Existing laws and regulations already apply to the crypto securities markets.” -Chair Gary Gensler\n\nDissatisfied with the SEC's decision, Coinbase recently informed a federal court of appeals in Philadelphia about its intention to seek a review of the SEC's denial, marking the continuation of the legal process.[\\[61\\]](#cite-id-wkmk2dotb0c)​[\\[62\\]](#cite-id-lha4lr5lbd)​[\\[63\\]](#cite-id-mba5lumctbg)​[\\[64\\]](#cite-id-rm9wn7fxs7e)​\n\n### 2024\n\n#### Coinbase x Yellow Card\n\nOn January 11, 2024, Coinbase partnered with [Yellow Card](https://iq.wiki/wiki/yellow-card), a Pan-African crypto exchange to to expand access to its products to 20 African countries, focusing on increasing [USDCoin](https://iq.wiki/wiki/usdc) stablecoin access. Coinbase integrated Yellow Card’s payment rails, enabling Coinbase customers in Africa to more easily on and off-ramp between fiat and crypto, including USD Coin. As part of the arrangement, Yellow Card users will be able to acquire [USDC](https://iq.wiki/wiki/usdc) on the [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 2](https://iq.wiki/wiki/layer-2) (L2) chain [Base](https://iq.wiki/wiki/base). [\\[65\\]](#cite-id-jzpl6wosqga)​[\\[66\\]](#cite-id-sy7tz0u6dpq)​\n\n> \"Our new partnership with leading African stablecoin exchange \\[Yellow] - (<https://iq.wiki/wiki/yellow>) Card will help usher in the future of money by giving millions of users access to \\[\\[USDC] - (<https://iq.wiki/wiki/usdc>)] - (\\[\\[<https://iq.wiki/wiki/usdc>] - (<https://iq.wiki/wiki/usdc>)] - (\\[<https://iq.wiki/wiki/usdc>] - (<https://iq.wiki/wiki/usdc>))) and fast, reliable, cheaper transactions on our decentralized, open L2 \\[\\[Base] - (<https://iq.wiki/wiki/base>)] - (\\[\\[<https://iq.wiki/wiki/base>] - (<https://iq.wiki/wiki/base>)] - (\\[<https://iq.wiki/wiki/base>] - (<https://iq.wiki/wiki/base>))) through both Coinbase and \\[Yellow] - (<https://iq.wiki/wiki/yellow>) Card products.\" - Coinbase blog post said\n\n#### $0 account balance - Outage\n\nAround noon on February 28th, 2024, users of Coinbase's U.S. platform reported experiencing account balance discrepancies. Some users found their balances showing as $0, coinciding with a rapid rise and fall in the value of bitcoin.\n\nCoinbase promptly acknowledged the issue on its website, stating it was under investigation. CEO [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) later explained that the exchange had anticipated a surge in traffic but was overwhelmed by demand beyond expectations.\n\nBy early afternoon, [Armstrong](https://iq.wiki/wiki/brian-armstrong) announced via social media that the platform was in the process of recovery.[\\[70\\]](#cite-id-s8s5yarkaqa)​[\\[71\\]](#cite-id-2xh9px9yfdc)​\n\n> \"Apps are now recovering. We had modeled a ~10x surge in traffic and load tested it. This exceeded that number. It's expensive to keep services over-provisioned, but we'll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks. Thank you for bearing with us.\" - \\[Brian Armstrong] - (\\[\\[<https://iq.wiki/wiki/brian-armstrong>] - (<https://iq.wiki/wiki/brian-armstrong>)] - (\\[<https://iq.wiki/wiki/brian-armstrong>] - (<https://iq.wiki/wiki/brian-armstrong>)))\n\n#### Coinbase Sues SEC\n\nOn June 27, 2024, Coinbase filed lawsuits against the SEC and FDIC, accusing them of attempting to exclude the [crypto](https://iq.wiki/wiki/cryptocurrency) industry from the banking sector. The exchange claims that the two regulators have not complied with the Freedom of Information Act (FOIA) and is seeking the U.S. District Court for the District of Columbia to compel the agencies to comply. [\\[75\\]](#cite-id-iy4djduazmk)The official filing reads:\n\n> “For nearly two years, a wide array of federal financial regulators — including the Securities and Exchange Commission, the FDIC, and the Federal \\[\\[Reserve] - (<https://iq.wiki/wiki/reserve>)] - (\\[\\[<https://iq.wiki/wiki/reserve>] - (<https://iq.wiki/wiki/reserve>)] - (\\[<https://iq.wiki/wiki/reserve>] - (<https://iq.wiki/wiki/reserve>))) Board — have used every regulatory tool at their disposal to try to cripple the digital-asset industry… This FOIA lawsuit seeks to bring to light the FDIC’s role in that unlawful scheme.”\n\nIn a statement on X, the Chief Legal Officer of Coinbase, [Paul Grewal](https://iq.wiki/wiki/paul-grewal), announced the lawsuit and aired out further grievances from Coinbase. “Financial regulators have used multiple tools at their disposal to try to cripple the digital-asset industry,” the statement reads.” \\[The SEC] has claimed sweeping authority, but refuses to provide any rules, let alone consistent or coherent ones. While \\[the FDIC] pressured financial institutions to cut off the industry from the banking system.”[\\[75\\]](#cite-id-iy4djduazmk)​\n\nCoinbase, represented by History Associates Inc., filed FOIA requests for information on how the SEC views ether, particularly its shift to a proof-of-stake consensus mechanism. The SEC denied these requests and the subsequent appeal. If granted, the requests would have made related documents and information publicly accessible. [\\[75\\]](#cite-id-iy4djduazmk)​\n\nThe Coinbase CLO also added in his statement that now is the time for the FDIC and SEC to do better. “This is no way to regulate. And this is no way to operate a transparent government. Today we demand better from our financial regulators. We appreciate the Court’s attention to these important issues and look forward to sharing updates in the future.”[\\[75\\]](#cite-id-iy4djduazmk)​\n\nThe SEC and FDIC have yet to respond to the lawsuits publicly and may be pushed by the court to respond to the FOIC requests.[\\[75\\]](#cite-id-iy4djduazmk)​\n\n#### Coinbase x Stripe\n\nIn June 2024, Coinbase partnered with Stripe. Stripe will incorporate Coinbase's [Layer 2](https://iq.wiki/wiki/layer-2) network [Base](https://iq.wiki/wiki/base) into its crypto payout products, and Coinbase will add Stripe as a way for its customers to buy crypto with credit cards or Apple Pay inside the Coinbase Wallet. Additionally, Coinbase customers are able to use the stablecoin [USDC](https://iq.wiki/wiki/usdc) via Base on Stripe to streamline fiat-to-crypto conversions and facilitate money transfers to over 150 nations. [\\[76\\]](#cite-id-gwkjkqj65)​\n\n> \"Crypto is the future of money because it is unrestricted by international borders or banking hours, and reduces both friction and fees for users. These three key integrations lay a strong foundation for Stripe and Coinbase to begin building a better payments future for users around the world,\" Coinbase wrote in a statement.\n\n#### MiCA Compliance and Stablecoin Delisting in EU\n\nOn October 4, 2024, Coinbase announced it would remove non-compliant stablecoins from its European exchange to comply with the European Union's new regulations on crypto-assets (MiCA). The MiCA framework, effective in June 2024 for [stablecoin](https://iq.wiki/wiki/stablecoin) issuers, requires that companies obtain e-money authorization to operate within the bloc, with exchanges needing to adhere to additional guidelines by December 31, 2024. [\\[77\\]](#cite-id-k81oodhwnpa)​\n\nCoinbase’s decision to delist these [stablecoins](https://iq.wiki/wiki/stablecoin), including Tether’s [USDT](https://iq.wiki/wiki/tether), is to ensure the platform meets the EU's regulatory standards. The company announced it would restrict services related to these assets by December 30, 2024, allowing users in the EEA to convert their holdings to compliant alternatives like Circle's stablecoins. [\\[77\\]](#cite-id-k81oodhwnpa)​\n\n### 2025\n\n#### Coinbase x PayPal Partnership\n\nOn April 24, 2025, PayPal Holdings, Inc. and Coinbase Global, Inc. announced an expansion of their partnership to increase the adoption, distribution, and utilization of the [PayPal USD](https://iq.wiki/wiki/paypal-usd-pyusd) (PYUSD) stablecoin. This collaboration aims to provide value for consumers, enterprises, and institutions by utilizing regulated USD-denominated digital currencies. [\\[78\\]](#cite-id-8vHwciRxym)​\n\n> \"For years, we've worked with Coinbase to enable a best-in-class integration... Our objectives aligned further as we deployed PYUSD in combination with our payments expertise enabling greater commerce applications,\" said Alex Chriss, President and CEO of PayPal.\n\nThe partnership gives Coinbase's customers direct access to PYUSD and enables thousands of institutions increased utility with the stablecoin.\n\n> \"We're excited to be partnering with PayPal. Their more than 430 million consumer and merchant accounts offer an unprecedented opportunity to increase stablecoin adoption globally,\" said \\[Brian Armstrong] - (<https://iq.wiki/wiki/brian-armstrong>), CEO of Coinbase.\n\n#### Coinbase Faces Major Data Breach, Rejects $20M Ransom Demand\n\nIn May 2025, Coinbase disclosed a significant data breach involving the compromise of sensitive customer information. According to the company, cybercriminals bribed overseas customer support agents to access internal systems and extract data. The breach affected less than 1% of Coinbase's user base, exposing personal details but no passwords, private keys, or customer funds. The attackers demanded a 20 million reward for information leading to the arrest of those responsible. [\\[79\\]](#cite-id-8ykAj6mFG4)​\n\nCoinbase is collaborating with law enforcement, has terminated the implicated insiders, and is establishing a U.S.-based support hub with enhanced security. The breach is projected to cost up to $400 million for remediation and customer reimbursements and has drawn regulatory scrutiny from the SEC. [\\[79\\]](#cite-id-8ykAj6mFG4) [\\[80\\]](#cite-id-vtWvJejhk8)​\n\n#### Bitcoin Rewards Card Expansion\n\nOn June 13, 2025, Coinbase announced it would expand access to its [Bitcoin](https://iq.wiki/wiki/bitcoin) Rewards debit card to drive subscriber growth and customer retention. The card allows users to earn Bitcoin cashback on everyday purchases, which Coinbase positions as an incentive for long-term Bitcoin accumulation. The initiative is part of Coinbase’s strategy to diversify its offerings beyond trading. The company reported that card users have shown higher engagement and loyalty compared to non-card users, supporting the card's potential to boost product usage. [\\[81\\]](#cite-id-wsXMqdL6yG)​\n\n#### U.S. Army Parade Sponsorship Controversy\n\nOn June 16, 2025, Coinbase faced backlash from the crypto community after sponsoring the New York City Veterans Day Parade, which featured U.S. Army participation. Critics on social media accused the company of corporate militarism and clashing with the anti-establishment ethos of [blockchain technology](https://iq.wiki/wiki/blockchain). Coinbase defended the sponsorship as part of its efforts to honor and support military veterans, who it noted are an important part of its workforce and user base. [\\[82\\]](#cite-id-EzNBP698ho)​\n\n#### Deribit Acquisition\n\nIn August 2025, Coinbase announced it had completed its acquisition of [Deribit](https://iq.wiki/wiki/deribit), a leading crypto options exchange. The company stated the acquisition solidifies its position as a comprehensive global crypto derivatives platform, combining spot, futures, perpetuals, and options trading into a single interface. The deal followed a record transaction revenue month for Deribit in July, and the acquisition was expected to be immediately accretive to Coinbase's adjusted EBITDA.[\\[84\\]](#cite-id-xIJZgFNgCC)​\n\n#### Token Sales\n\nIn November 2025, Coinbase introduced Token Sales, a feature that allows token issuers to launch new digital assets directly on the platform. This provides Coinbase users with early access to new tokens as they become available. The program is designed to be a regulated and trusted method for token launches, offering a secure environment for both issuers and participants in the primary market for new assets. [\\[86\\]](#cite-id-ABoxIKzW2Y)​\n\n#### Relaunch in India\n\nIn December 2025, Coinbase announced it had reopened user registrations in India, more than two years after pausing its services in the country. The relaunch initially allows Indian customers to conduct crypto-to-crypto trades, with a full fiat on-ramp for Indian Rupees (INR) planned for 2026. This move follows the company's registration with India's Financial Intelligence Unit (FIU), which a company director described as a \"clean slate\" with regulators. Coinbase had previously launched in India in 2022 but halted fiat services shortly after due to issues with the Unified Payments Interface (UPI) and fully offboarded users in 2023. The re-entry was preceded by a strategic increased investment in [CoinDCX](https://iq.wiki/wiki/coindcx), India's largest crypto exchange, in October 2025.[\\[87\\]](#cite-id-WcWk3RMlptO3wEnr)​\n\n#### System Update and \"Everything Exchange\" Vision\n\nOn December 17, 2025, Coinbase announced a major \"System Update,\" outlining its strategy to become an \"Everything Exchange\" by integrating traditional financial assets and services with crypto. The company began rolling out several new products for U.S. users, including zero-commission stock and ETF trading, prediction markets powered by [Kalshi](https://iq.wiki/wiki/kalshi), and a simplified interface for futures trading. It also announced the upcoming integration of [Solana](https://iq.wiki/wiki/solana) DEX trading powered by [Jupiter](https://iq.wiki/wiki/jupiter). The update included the global launch of the [Base App](https://iq.wiki/wiki/base-app), an \"onchain everything app,\" and the general availability of Coinbase Business for companies in the U.S. and Singapore.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)​\n\n#### Acquisition of The Clearing Company\n\nOn December 22, 2025, Coinbase announced it had entered an agreement to acquire The Clearing Company, a startup focused on creating regulated, on-chain prediction markets. The acquisition, expected to close in January 2026, was intended to accelerate Coinbase's product roadmap for prediction markets. The startup's founder, Toni Gemayel, and his team were set to join Coinbase to help scale its offerings in this category.[\\[89\\]](#cite-id-eTjHYjnN3Pyu5GmU)​\n\n#### Enterprise AI Agent Initiative\n\nOn December 22, 2025, Coinbase revealed that a specialized \"Agentic AI Tiger Team\" had completed a six-week project to standardize the development of enterprise-level [AI agents ](https://iq.wiki/wiki/ai-agents)for internal process automation. The initiative established a \"high-code\" framework using Python and LangGraph to build auditable and scalable AI agents, treating agent development as a formal software discipline. The initial automations were reported to save over 25 hours per week in operational time and established a company-wide standard for AI agent observability.[\\[90\\]](#cite-id-Masp8za9MEQU0wZt)​\n\n### 2026\n\n#### Temporary Suspension of Operations in Argentina\n\nOn January 4, 2026, Coinbase announced a temporary suspension of its services in Argentina, less than a year after its regional launch. The company described the move as a \"strategic retreat\" to \"reassess and strengthen\" its local product offering, with plans to re-enter the market at a future date. The suspension of peso trading for [USDC](https://iq.wiki/wiki/usdc) was scheduled for January 31, 2026. A company spokesperson emphasized that Latin America remained a central region for its expansion plans.[\\[91\\]](#cite-id-06lKmtWYx70RAvwY)​\n\n#### Consumer Protection Initiative\n\nOn January 6, 2026, as part of its \"Consumer Protection Tuesday\" series, Coinbase published a guide for users who suspect they have been victims of online fraud. The guidance detailed immediate steps for victims, including ceasing contact with scammers, securing financial and online accounts, and reporting the incident to law enforcement bodies such as the FTC and the FBI's Internet Crime Complaint Center (IC3), as well as to Coinbase Support. The company also reiterated its commitment to combating illicit activity through its compliance program and partnerships with law enforcement.[\\[92\\]](#cite-id-OR2g4VZjiAIdm2M6)​\n\n### Ethereum's Merge Effects\n\n[YOUTUBE@VID](N5PGaTHOTKc)\n\n*Coinbase pauses Ethereum transactions during the cryptocurrency's merge*\n\nOn September 15, 2022, [Ethereum](https://iq.wiki/wiki/ethereum) moved from [Proof-of-Work (PoW)](https://iq.wiki/wiki/proof-of-work-pow) to [Proof-of-Stake (PoS)](https://iq.wiki/wiki/proof-of-stake), making it more secure, less energy-intensive, and better for implementing new scaling solutions. The Ethereum network has experienced traffic jams and irregular increases in transaction (gas) fees as a result of the growth of [DeFi](https://iq.wiki/wiki/defi) and [NFTs](https://iq.wiki/wiki/non-fungible-token-nft). Although The Merge does not reduce transaction fees, it does position Ethereum to keep delivering on its plan for scalability.[\\[39\\]](#cite-id-gevbzaegzld)​\n\nDuring the Merge, Coinbase briefly paused new [Ethereum](https://iq.wiki/wiki/ethereum) (ETH) and ERC-20 token deposits and withdrawals as a precautionary measure to ensure that funds are protected. In-process payments will also be delayed. Once the merge was complete, payment processing was re-enabled.[\\[40\\]](#cite-id-frjjp1n60v)Speaking on The Merge, Coinbase product manager Armin Rezaiean-Asel said in a blog post:\n\n> Although the Merge is expected to be seamless from a user perspective, this downtime allows us to ensure that the transition has been successfully reflected by our systems,” said Rezaiean-Asel. “We do not expect any other networks or currencies to be impacted and expect no impact to trading for ETH and ERC-20 tokens across our centralized trading products.\n\n#### Coinbase Chainstack Launch\n\n​[Chainstack](https://iq.wiki/wiki/chainstack-blockchain-infrastructure-company), a [blockchain](https://iq.wiki/wiki/blockchain) data platform developed by Coinbase, is designed to enhance data availability, computation, and indexing. Its primary component, ChainStorage, facilitates dependable access to blockchain data.\n\nIn response to the increasing demand for advanced [blockchain](https://iq.wiki/wiki/blockchain) data processing capabilities in early 2021, [Chainstack](https://iq.wiki/wiki/chainstack-blockchain-infrastructure-company) was launched in 2023 and aims to streamline crypto data indexing, striving for near real-time performance while minimizing operational costs.\n\nBy leveraging modern data stack technologies such as Apache [Spark](https://iq.wiki/wiki/spark) and Arrow, [Chainstack](https://iq.wiki/wiki/chainstack-blockchain-infrastructure-company) is structured around three main systems: ChainStorage, Chainsformer, and ChaIndex. Chainsformer addresses challenges associated with its API-centric approach, offering seamless integration with major big data ecosystems, operational efficiency, and customizable data processing workflows.[\\[67\\]](#cite-id-m4225y97qe)​[\\[68\\]](#cite-id-f5ncvaoi3c)​[\\[69\\]](#cite-id-cw90ttr89z)​\n\n## Products\n\nCoinbase offers a wide range of products for retail users, institutions, and developers. Originally focused on [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) brokerage and exchange services, the company has expanded its platform to include a variety of asset classes and financial tools, moving toward its goal of becoming a comprehensive \"Everything Exchange\".[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)​\n\n### Products for Retail Traders\n\n* **Coinbase**: A secure online platform for buying, selling, transferring, and storing digital assets, including cryptocurrency and stocks.\n* **Advanced Trade**: An advanced trading experience integrated into the main Coinbase app and website, offering detailed order books, trading charts, and order types. It replaced the standalone Coinbase Pro platform in 2022.\n* **Coinbase Wallet**: An app that allows customers to access decentralized applications (DApps) and manage their self-custody crypto assets.\n* [**Coinbase NFT**](https://iq.wiki/wiki/coinbase-nft): a [Web3](https://iq.wiki/wiki/web3) social marketplace for NFTs.\n* **Stock Trading**: A feature within the main Coinbase app that allows U.S. users to buy, sell, and hold stocks and ETFs with zero-commission and 24/5 trading for eligible symbols.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n* **Prediction Markets**: A feature allowing U.S. users to trade on the outcomes of real-world events, with market flow initially sourced from Kalshi.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n* **Futures Trading**: A simplified interface in the main app for retail users in the U.S. to trade futures and perpetual futures, offered via the NFA-regulated Coinbase Financial Markets (CFM).[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n* [**The Base App**](https://iq.wiki/wiki/base-app): A standalone \"onchain everything app\" built on the [Base](https://iq.wiki/wiki/base) network, integrating social features, payments, trading, and tokenized user-generated content, available in over 140 countries.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n* [**Coinbase Advisor**](https://iq.wiki/wiki/coinbase-advisor): An AI-powered financial guidance tool integrated into the Coinbase app, designed to provide personalized recommendations based on user goals (launched in beta).[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n\n### Products for Institutional Traders\n\n* **Coinbase Prime**\n* **Coinbase Custody**, specialist-level services for institutions that hold [Bitcoin](https://iq.wiki/wiki/bitcoin) (BTC) and other cryptocurrencies with Coinbase\n* [**Coinbase Business**](https://iq.wiki/wiki/coinbase-business): An all-in-one financial platform for startups and SMBs in the U.S. and Singapore, providing services for global payments, crypto asset management, and earning rewards.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n* **Coinbase Tokenize**: A planned end-to-end platform for institutions to tokenize real-world assets.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n\n### Other Cryptocurrency-Related Products\n\n* [**USDCoin**](https://iq.wiki/wiki/usdc)\n* **Coinbase Card**, a debit Visa card that allows customers to spend cryptocurrency anywhere Visa cards are accepted\n* **Coinbase Commerce**, a payment service for merchants\n* **DEX Trading**: A feature integrated into the main app that allows users to swap a wide range of tokens on decentralized exchanges, including support for the [Solana](https://iq.wiki/wiki/solana) network powered by the [Jupiter](https://iq.wiki/wiki/jupiter) aggregator.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM)\n\nCoinbase has a mobile app for both iOS and Android.\n\n[YOUTUBE@VID](64GhiDvem4o)\n\n### Smart Wallet\n\nOn June 5, 2024, Coinbase officially launched smart wallets - a product designed to reduce hurdles for new users looking to get started in the [DeFi](https://iq.wiki/wiki/defi) space. [\\[73\\]](#cite-id-0upp2pjs4trh)​[\\[74\\]](#cite-id-2gkbeyoyqph)​\n\n> “Smart Wallets allows users to create a free, secure, self-custody wallet in just a few seconds,” wrote Siddharth Coelho-Prabhu, senior director of product management at Coinbase, in a blog post announcing the release.“They simplify onboarding, reduce the number of transactions to be signed, and seamlessly let you use your Coinbase balances.”\n\nBenefits of the smart wallets, as stated, include effortless onboarding whereby users can create a new wallet and onboard effectively without the hassle of recovery phrases, apps, or extensions. It also makes it easy to pay onchain with a self-custodial wallet balance or the Coinbase account balance. It encourages cross-app portability and allows developers to go gasless via paymaster integrations. [\\[73\\]](#cite-id-0upp2pjs4trh)​\n\n> \"Additionally, Coinbase offers a companion webapp that includes features like asset and identity management, buy, send, swap, NFTs, and transaction history, which will be the primary platform for smart wallets users to manage their wallet\" - Coinbase added\n\nCoinbase's wallet supports eight networks, including [Base](https://iq.wiki/wiki/base), [Ethereum](https://iq.wiki/wiki/ethereum), [Optimism](https://iq.wiki/wiki/optimism), [Arbitrum](https://iq.wiki/wiki/arbitrum), [Polygon](https://iq.wiki/wiki/polygon), [Avalanche](https://iq.wiki/wiki/avalanche), [BNB](https://iq.wiki/wiki/binance-coin), and [Zora](https://iq.wiki/wiki/zora). The company said it plans to support more in the future. [\\[73\\]](#cite-id-0upp2pjs4trh)​\n\n## Coinbase Effect\n\nThere’s an enduring concept in the world of [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) investing called \"the Coinbase effect.\" The idea is that the price of cryptocurrencies that are going to be listed for sale on Coinbase starts rising in the days after the news becomes public. According to Roberto Talamas, an analyst at crypto research firm Messari Crypto, the Coinbase listing has the highest impact on price among exchange listings with an average five-day return of 29%. In other words, five days after Coinbase announces a new token listing, the price of that token appreciates significantly.[\\[15\\]](#cite-id-u8v3y88zk88)​\n\nTalamas attributes Coinbase’s powers to its popularity among retail investors. The company counts 56 million verified users, including 6.1 million monthly transacting users, or people who actually buy and sell cryptocurrency, per the company’s 2021 first-quarter financial statement. During the most recent three months ended March 31, Coinbase estimates that it scored between 800 million in profit on revenues of $1.8 billion.[\\[16\\]](#cite-id-w00a717ieoj)​\n\n[YOUTUBE@VID](Ml3vuHq4Rs4)\n\n## Coinbase Developer Platform (CDP)\n\nThe [Coinbase Developer Platform (CDP)](https://iq.wiki/wiki/coinbase-developer-platform-cdp) is a suite of tools, APIs, and SDKs provided by Coinbase to enable developers to build [cryptocurrency](https://iq.wiki/wiki/cryptocurrency)-based applications. It offers solutions for wallet creation, payments, trading, data access, and on-chain development, leveraging Coinbase's existing infrastructure, security, and compliance frameworks.\n\nCDP is designed to simplify the complexities of [blockchain](https://iq.wiki/wiki/blockchain) development, aiming to \"bring the world onchain\" by providing developers with an easy-to-use and trusted experience. It serves a wide range of users, from individual builders to large enterprises, by offering distinct API sets tailored to consumer, business, and institutional use cases. [\\[85\\]](#cite-id-5DxoWippqc)​ The platform includes services for partners to create custom-branded stablecoins and utilizes open standards like the [x402](https://iq.wiki/wiki/x402) protocol, developed in partnership with companies like Cloudflare, to enable on-chain micropayments.[\\[88\\]](#cite-id-tF6C9Mv6zy4aWBBM) Internally, Coinbase's engineering teams use a \"high-code,\" principles-based approach to build and scale services, such as enterprise AI agents, treating them as a formal software discipline to ensure trust, observability, and auditability.[\\[90\\]](#cite-id-Masp8za9MEQU0wZt)\n\n## Team\n\n* [Brian Armstrong](https://iq.wiki/wiki/brian-armstrong) - Co-Founder & Chief executive officer[\\[17\\]](#cite-id-6b0i7txgnsn)\n* [Emilie Choi](https://iq.wiki/wiki/emilie-choi) - President & Chief operating officer[\\[18\\]](#cite-id-xo1lqtykvrb)\n* Alesia Haas - Chief financial officer[\\[19\\]](#cite-id-g2keqbzk4kf)\n* L.J. Brock - Chief human resources officer[\\[20\\]](#cite-id-h53m8u7iq5u)\n* [Paul Grewal](https://iq.wiki/wiki/paul-grewal) - Chief legal officer[\\[21\\]](#cite-id-jc2ip3nu22)\n* Manish Gupta - EVP of Engineering[\\[22\\]](#cite-id-8wtx521nut)\n* Gregory Tusar - VP, Institutional Product[\\[50\\]](#cite-id-w2afq644azh)\n* Max Branzburg - VP, Product[\\[51\\]](#cite-id-tzl8f6sn8k)\n* Will Robinson - VP, Engineering[\\[52\\]](#cite-id-tkfgfyx6htj)","summary":"Coinbase is a San Francisco-based cryptocurrency exchange platform for buying, selling, and storing digital currencies, boasting over 90 million users worldwide...","images":[{"id":"QmRYiwSq4YGeRo72TsZGLv1feB4oKKzLWYkXKDQgp4Hemw","type":"image/jpeg"}],"categories":[{"id":"exchanges","title":"Exchanges"}],"tags":[{"id":"CEXes"},{"id":"Glossary"},{"id":"Organizations"}],"media":[{"id":"QmdFfvesc2Hw37g9jJEUHsmtU8cTQPrwZ3VNQKmXy5vDfj","size":"0.025","name":"OIP.jfif","type":null,"source":"IPFS_IMG"},{"id":"QmU34z8aZ2ZCSQZnPdENG6Ge8xfkFJ2SAYPQRuW78SVxp4","size":"0.043","name":"R.png","type":null,"source":"IPFS_IMG"},{"id":"QmWUciZnBgX7xo8FoxsAZLxyVawEr4BuB3pN3LuBDsdXeH","size":"0.46","name":"coinbase-guys.jpg","type":null,"source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=N5PGaTHOTKc","size":"0","name":"N5PGaTHOTKc","type":null,"source":"YOUTUBE"},{"id":"https://www.youtube.com/watch?v=64GhiDvem4o","size":"0","name":"64GhiDvem4o","type":null,"source":"YOUTUBE"},{"id":"https://www.youtube.com/watch?v=3AYH5Ol9QT8","size":"0","name":"3AYH5Ol9QT8","type":null,"source":"YOUTUBE"},{"id":"https://www.youtube.com/watch?v=o9TZCCE6l3E","size":"0","name":"o9TZCCE6l3E","type":null,"source":"YOUTUBE"},{"id":"QmXYZ5rijdJHYjo5J1fpHUXMf6rj95hpCejKQxYkcZEJpf","size":"0.02","name":"image","type":"GALLERY","source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://www.coinbase.com/"},{"id":"facebook_profile","value":"https://www.facebook.com/Coinbase"},{"id":"twitter_profile","value":"https://twitter.com/coinbase"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/coinbase"},{"id":"youtube_profile","value":"https://www.youtube.com/channel/UCofTOFX4QuhT8OY-3-fFRFw"},{"id":"reddit_profile","value":"https://www.reddit.com/r/CoinBase/"},{"id":"medium_profile","value":"https://medium.com/@coinbaseblog"},{"id":"references","value":"[{\"id\":\"h8ypqj07b24\",\"url\":\"https://www.bloomberg.com/profile/company/0776164D:US\",\"description\":\"\\\"Coinbase Inc: Company Profile\",\"timestamp\":1658453546493},{\"id\":\"5iu6nb1ocki\",\"url\":\"https://craft.co/coinbase\",\"description\":\"Coinbase company profile\\\". Craft. September 4, 2019\",\"timestamp\":1658453657482},{\"id\":\"o38y82rp7ih\",\"url\":\"https://techcrunch.com/2014/05/06/coinbase-kippt/\",\"description\":\"Coinbase Acquires YC-Backed Kippt To Beef\",\"timestamp\":1658453895322},{\"id\":\"fs17rqmden\",\"url\":\"https://www.wsj.com/articles/coinbase-raises-75-million-in-funding-round-1421762403\",\"description\":\"Coinbase raises 75 million in funding round\",\"timestamp\":1658454221413},{\"id\":\"b01ffhibree\",\"url\":\"https://blog.coinbase.com/coinbase-obtains-the-bitlicense-f1c3e35c4d75?gi=60fa48d76909\",\"description\":\"Coinbase obtains the Bitlicense\",\"timestamp\":1658454599708},{\"id\":\"vmodfujehb\",\"url\":\"https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/\",\"description\":\"Coinbase's first investment, Compound, earns\",\"timestamp\":1658454796977},{\"id\":\"ya3a4kdw2qh\",\"url\":\"https://techcrunch.com/2019/02/19/coinbase-buys-neutrino/\",\"description\":\"Coinbase buys blockchain intelligence \",\"timestamp\":1658454899504},{\"id\":\"1jyxa3p4nqr\",\"url\":\"https://theintercept.com/2015/07/07/leaked-documents-confirm-hacking-team-sells-spyware-repressive-countries/\",\"description\":\"A Detailed Look at Hacking Team's Emails\",\"timestamp\":1658455078950},{\"id\":\"sg22e7fbp2\",\"url\":\"https://www.cnbc.com/2021/02/25/coinbase-files-for-direct-listing-after-revenue-more-than-doubles-in-2020.html\",\"description\":\"MARKETS\\nCoinbase files for direct listing after revenue\",\"timestamp\":1658525971243},{\"id\":\"cbyqqjvwyza\",\"url\":\"https://www.cnbc.com/2021/04/14/coinbase-to-debut-on-nasdaq-in-direct-listing.html\",\"description\":\"Coinbase closes at $328.28 per share in Nasdaq debut\",\"timestamp\":1658526013379},{\"id\":\"zgrdyc7ejeb\",\"url\":\"https://www.cnbc.com/2021/04/13/coinbase-reference-price-250-ahead-of-direct-listing.html\",\"description\":\"Coinbase gets reference price of $250 per share from Nasdaq\",\"timestamp\":1658526054955},{\"id\":\"k92jevdgtlk\",\"url\":\"https://fortune.com/2020/05/27/coinbase-acquires-crypto-trading-firm-tagomi-in-all-stock-deal/\",\"description\":\"Coinbase acquires crypto trading firm Tagomi\",\"timestamp\":1658526201720},{\"id\":\"8qxsr198hms\",\"url\":\"https://www.theverge.com/2020/10/28/21538278/coinbase-card-visa-debit-cryptocurrency-bitcoin-stellar-lumen-spending-money\",\"description\":\"Coinbase launches its cryptocurrency Visa debit card\",\"timestamp\":1658526277711},{\"id\":\"3zuw79n176g\",\"url\":\"https://www.coinbase.com/about\",\"description\":\"About Coinbase\",\"timestamp\":1658526501399},{\"id\":\"u8v3y88zk88\",\"url\":\"https://fortune.com/2021/04/07/coinbase-ipo-crypto-boom/\",\"description\":\"Excitement over the ‘Coinbase effect’ is spilling over ahead\",\"timestamp\":1658526603738},{\"id\":\"w00a717ieoj\",\"url\":\"https://www.barrons.com/articles/the-coinbase-effect-shows-the-companys-importance-and-how-it-could-diminish-51618247558\",\"description\":\"The ‘Coinbase Effect’ Shows the Company’s Importance\",\"timestamp\":1658526632377},{\"id\":\"6b0i7txgnsn\",\"url\":\"https://www.linkedin.com/in/barmstrong/\",\"description\":\" \",\"timestamp\":1664890322124},{\"id\":\"xo1lqtykvrb\",\"url\":\"https://www.linkedin.com/in/emiliechoi/\",\"description\":\" \",\"timestamp\":1664890347467},{\"id\":\"g2keqbzk4kf\",\"url\":\"https://www.linkedin.com/in/alesia-haas-b776531/\",\"description\":\" \",\"timestamp\":1664890390251},{\"id\":\"h53m8u7iq5u\",\"url\":\"https://www.linkedin.com/in/lbrock/\",\"description\":\" \",\"timestamp\":1664890412451},{\"id\":\"jc2ip3nu22\",\"url\":\"https://www.linkedin.com/in/paul-grewal-288978b4/\",\"description\":\" \",\"timestamp\":1664890433531},{\"id\":\"8wtx521nut\",\"url\":\"https://www.linkedin.com/company/coinbase/people/\",\"description\":\" \",\"timestamp\":1664890649376},{\"id\":\"1n90rzhhq03\",\"url\":\"https://www.pcmag.com/encyclopedia/term/coinbase\",\"description\":\" \",\"timestamp\":1664965021089},{\"id\":\"j9d5fr24lzo\",\"url\":\"https://money.com/how-to-use-coinbase-beginners/\",\"description\":\" \",\"timestamp\":1664965044170},{\"id\":\"kstae2eykx\",\"url\":\"https://www.cnbc.com/2021/04/14/coinbase-to-debut-on-nasdaq-in-direct-listing.html\",\"description\":\" \",\"timestamp\":1664976164079},{\"id\":\"8csiv9hqh8h\",\"url\":\"https://www.coindesk.com/markets/2016/05/19/coinbase-exchange-to-rebrand-following-ethereum-trading-launch/\",\"description\":\" \",\"timestamp\":1664979956098},{\"id\":\"xamjei9qz7s\",\"url\":\"https://techcrunch.com/2018/05/16/cryptocurrency-compound-interest/\",\"description\":\" 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