Connect with us


Coinbase Crypto Exchange Plans to Launch Initial Exchange Offerings (IEO)



Although Initial Coin Offering (ICO) was a fancy term in 2017, the ICO market is pretty much dead now. But in the year 2019, Initial Exchange Offering (IEO) is becoming the new trend in the crypto industry.

The latest report unveils that the United States crypto exchange Coinbase is eyeing to launch its own “Initial Exchange Offerings (IEO) and a platform for security token offerings (STO).

Coinbase Deciding to Launch IEO

Coinbase cryptocurrency exchange is pushing itself harder to adopt widespread awareness from the worldwide crypto industry. Although the official announcement is yet to be revealed, the Coinbase’s Chief of institutional sales, Kayvon Pirestani told media;

We think there’s a really interesting opportunity there for Coinbase,” said Pirestani, continuing: “In a nutshell, Coinbase is carefully exploring not only the IEO space but also STOs (security token offerings). But I can’t make any formal announcements right now.

IEO – Exchange-led rebirth of the ICO

Although Initial Coin Offering (ICO) was a fancy term in 2017, the ICO market is pretty much dead now. But in the year 2019, Initial Exchange Offering (IEO) is becoming a new trend in the crypto industry. In fact, there’s nothing wrong calling it as – the exchange-led rebirth of the ICO wherein Exchange sells token on behalf of the new projects needing to raise funds from the public.

One of the critical aspects that differ IEOs from ICOs is that the whole project will be carried out in high standard security frameworks, set out by several exchanges. Investors are likely to rest assured with their funds invested in IEOs hosted by crypto exchanges.

Coinbase’s IEO launch is no surprise as its competitors have already launched and flourished in the crypto market well enough. Prior to Coinbase, competing giants such as Binance, OKcoin, Bitfinex, and KuCoin are already in a top list of hosting multiple IEOs.

While Coinbase’s executive didn’t open to more information about their IEOs, he further said that the firm would reveal the detail information about its IEO plan in the “next few months.” He also adds that STOs are quite near at their launch but added that the company felt rare demand for the STO product right now– henceforth, it will wait a bit more.

News Source


Coinbase Announces its Upcoming Cryptocurrency IRA



There is no time like the present, even in the cryptocurrency industry. Coinbase, a provider of exchange and wallet services, is now entering the IRA game.

This is made possible following a strategic partnership with Kingdom Trust and Regal Assets. 


A cryptocurrency-based investor retirement account has been of great interest to many, yet few companies provide such a service. 

The main purpose of these IRAs is how the cryptocurrency balances are safe from external factors. 

Hackers or criminals looking to steal user funds will have a very tough day and ultimately be unsuccessful. 

Furthermore, every account created through Coinbase’s IRA will be insured for up to $200m, courtesy of Lloyd’s of London. 

For those who are on the fence about investing in cryptocurrencies, this might be the solution they have been waiting for.

Plenty of cryptocurrencies will be supported for these IRAs. The list includes Bitcoin, Stellar, Tezos, DAI, Augur, and several dozen other currencies. 

Some notably absent projects include Binance Coin,  Monero, and so forth. It is possible more currencies will be added once the service goes live.

Cryptocurrency investing is usually something one should engage in for the long term. An IRA seems to be the perfect vehicle to accommodate those needs.

On the other hand, putting one’s retirement savings into cryptocurrency will always be a risky venture.

These markets are extremely volatile, and there is no guarantee all of the supported tokens will still be around decades from today. 

News Source

Continue Reading


Fake News in Big Tech Lambasted by Former Coinbase CTO



Former Coinbase executive and angel investor, Balaji S. Srinivasan, has taken issue with fake news stories emerging within the tech industry and several reports that completely contradict common industry knowledge.

Srinivasan mentioned two articles in particular — Newsweek’s infamous piece ‘proving’ that Dorian Nakamoto was actually Bitcoin creator Satoshi Nakamoto, and Bloomberg Businessweek’s ‘The Big Hack’ story.

Fake News

Fake News Identifying Satoshi Nakamoto

In 2014, as its cover story, Newsweek reported that it had discovered the identity of Bitcoin creator Satoshi Nakamoto, which it claimed to be Dorian Nakamoto. The story made explicit statements that Dorian Nakamoto was Satoshi Nakamoto while providing no irrefutable evidence. Dorian Nakamoto even went so far as to crowdfund a lawsuit to clear his name.

Newsweek never retracted the story and even defended the reporting:

“Newsweek stands strongly behind Ms. Goodman and her article. Ms. Goodman’s reporting was motivated by a search for the truth surrounding a major business story, absent any other agenda. The facts as reported point toward Mr. Nakamoto’s role in the founding of Bitcoin.”

‘The Big Hack’

‘The Big Hack’ story published in October 2018 in Bloomberg Businessweek posited that bad actors linked to China had planted small chips in Supermicro hardware, with the intention of spying on some of America’s biggest companies. Among the entities that were described as having been targeted were Apple, Amazon, and DHS.

Like Newsweek’s Dorian Nakamoto story, Bloomberg never retracted or clarified its position on the issue.

Srinivasan pointed to the Gell-Mann amnesia effect, which was conceived by author Michael Crichton. The effect refers to the phenomenon of experts, “believing news articles on topics outside of their fields of expertise,” even after the news article in question has been proven to be factually incorrect or misleading.

Srinivasan departed from Coinbase earlier this year on good terms but continues to work as an angel investor.

News Source

Continue Reading


Winklevoss Capital, Coinbase Back $1.8 Million Round for Bitski Crypto Wallet



A startup making it easier for developers to put crypto wallets in their applications is announcing a seed round from the likes of Galaxy Digital, Winklevoss Capital and Coinbase Ventures.

Bitski thinks its developer platform can help the crypto sector overcome a key hurdle: For most folks, setting up a wallet is a pain. By having one pre-loaded into, say, your favorite video game, Bitski thinks its single-sign-on wallet can move the needle on mainstream adoption.

“We’re using this money to expand the funnel of people that are building on blockchain,” Bitski co-founder and CEO Donnie Dinch said of the $1.81 million in fresh capital. (The startup’s total fundraise is $3.54 million, including a late-2018 pre-seed round, Dinch said.)

Bitski also announced its product is being used by a pair of game development studios, an ethereum-powered sports betting site and YouNow, the live-streaming platform behind the SEC-regulated props token.

“There are a lot of projects out there that are interesting to the core crypto users but we’re trying to work on things that have broad mainstream appeal,” Dinch told CoinDesk, adding that gaming has been the company’s early focus.

“We’re excited for Bitski to help catalyze the next wave of companies integrating blockchain into their products,” Winklevoss Capital partner Sterling Witzke said in a statement.

The wallet’s simple UX does come with a tradeoff on self-custody, Dinch said, though the bet is most users will prefer to have a third party handling key management for them. All user wallets are stored using hardware security modules (HSMs) in “biometrically-secured” data centers, Dinch added.

Compound protocol founder Robert Leshner, who participated in the Bitski seed round through his Robot Ventures fund, says the startup could be a major on-ramp for new crypto users.

“Public-key cryptography is the bedrock of the growing decentralized application ecosystem – but as it stands, it’s simply too cumbersome and confusing for a mainstream user experience,” Leshner told CoinDesk via email, adding:

“Bitski is a necessary experiment to (re)imagine how we interact with blockchains. They remove the friction and difficulty of wallet management, while preserving security and increasing portability.”

Bitski is currently a four-person team based in San Francisco. Three of the co-founders worked previously on WillCall, a ticketing app acquired in 2014 by Ticketfly.


Continue Reading