🚨 🚨 🚨 🚨 🚨 901 #BTC (112,343,244 USD) transferred from #Cumberland to Coinbase Institutionalhttps://t.co/v8lqcuUqP7 ...

Core Insights - Coinbase is considering applying for a federal bank charter, joining other crypto firms like Circle, Ripple, and Paxos in seeking a trust charter [3][5] - Currently, Anchorage Digital is the only crypto firm with a trust bank charter, which was approved by the OCC in January 2021 [4] - A trust bank charter has a limited scope compared to a traditional bank charter, focusing on asset management and trust administration without the ability to lend or take insured deposits [5] Company Developments - Coinbase has $425 billion in assets on its platform as of June 30, indicating its significant market presence [5] - The OCC charter is expected to streamline oversight for new offerings and foster innovation in integrating digital assets into traditional finance [6] - Coinbase aims to launch new products beyond crypto custody, including payments and other services, with regulatory clarity if the charter is secured [7] Industry Reactions - Bank trade groups have expressed concerns about the trust charter applications from crypto firms, labeling them as risky and potentially destabilizing to consumer confidence in the banking system [6][7] - The Independent Community Bankers of America has urged the OCC to postpone decisions on these applications, highlighting the perceived risks associated with uninsured deposit-like accounts [6][7]

Cryptocurrency exchange Coinbase has revealed plans to apply for a national trust company charter from the Office of the Comptroller of the Currency. The development was confirmed by Coinbase vice-president of institutional product, Greg Tusar in a blog post, which was published on the company’s website. The charter is intended to facilitate the company's expansion into payment and related services, while maintaining that it does not plan to become a bank. Tusar said: “Coinbase has no intention of bec ...

the next big unlock for stablecoin transfer volumes https://t.co/Eg8FlDqOqQCoinbase Developer Platform🛡️ (@CoinbaseDev):🚀 Big news 🚀 @coinbase and @cloudflare will be launching the x402 Foundation to establish x402 as the universal standard for AI-driven payments.Legacy payment systems weren’t built for machines, but x402 changes that by embedding payments directly into web interactions, https://t.co/Uma0jH2xmn ...

Group 1 - Coinbase is intensifying its opposition to traditional financial institutions regarding stablecoin rewards, with CEO Brian Armstrong criticizing banks for attempting to eliminate these rewards [1][3] - The American Bankers Association and other banking groups have labeled stablecoin reward programs as a loophole in the GENIUS Act, which prohibits stablecoin issuers from paying interest to users [2] - The banking groups argue that allowing stablecoin rewards could lead to significant deposit outflows, potentially amounting to $6.6 trillion, which would adversely affect banks' lending capabilities [3] Group 2 - Armstrong asserts that banks are trying to suppress competition, which ultimately harms U.S. consumers, emphasizing that competition benefits consumers [3][4] - Coinbase is actively engaging with lawmakers, with Armstrong advocating against bank bailouts and encouraging the cryptocurrency community to voice their opposition [4][5] - The message from Coinbase highlights the inconsistency in banning crypto rewards while allowing credit card rewards, reinforcing their stance on the importance of maintaining competitive practices in the financial sector [5]

🚨 🚨 🚨 🚨 🚨 🚨 1,157 #BTC (142,478,373 USD) transferred from unknown wallet to #Coinbasehttps://t.co/M7xXcDIMJ2 ...

RT Bitcoin Magazine (@BitcoinMagazine)Coinbase makes it simple: borrow against and manage your #Bitcoin all in one place, powered by Morpho. 🟠👉 https://t.co/ssQc43cOGt#Coinbase #Ad https://t.co/f04UkO5eCj ...

🚨 🚨 🚨 401 #BTC (50,061,325 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/2DDIfkCMsq ...

🚨 🚨 🚨 401 #BTC (50,215,147 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/ax83GLKlM7 ...

Coinbase #Coinbase ©️ Should list ______??((1) $MANYU(2) $WKC(3) $KAS(4) $TROLL(5) $MASK(6) $BRETT(7) $DOG(8) #memecoin(9) $KORI(10) $WEN(11) #FAERTLESS(12) #USELESS(13) #4chan(14) $STUPID(15) $AURA(16) #Omikami(17) #PIIN(18) $DUKO https://t.co/cE5LPe3C2O ...