Core Insights - Coinbase has appointed former British finance minister George Osborne to lead its internal advisory council, aiming to enhance its influence in the cryptocurrency sector [1] Company Developments - The appointment of George Osborne is part of Coinbase's strategy to strengthen its advisory capabilities and navigate regulatory challenges in the evolving crypto landscape [1] Industry Context - This move reflects a broader trend in the cryptocurrency industry where companies are seeking experienced leaders from traditional finance to guide their operations and compliance efforts [1]

Core Insights - Coinbase is expanding its product offerings to create an "everything exchange" that allows users to trade a variety of assets beyond just cryptocurrencies [1][2] - The new features include stock and ETF trading, prediction markets, and an AI-powered financial advisor [1][6] Product Expansion - Starting Wednesday, US users can trade stocks and ETFs 24/5 in the Coinbase app alongside cryptocurrencies [2] - Users will have a unified experience with one account, one portfolio view, and one transaction history for both stocks and cryptocurrencies [3] - Coinbase plans to launch Coinbase Tokenize next year, enabling users to tokenize stocks and other real-world assets [3] Decentralized Exchange Integration - Coinbase will integrate trading on Jupiter, a Solana-based decentralized exchange aggregator, within its app [4] - This marks the first expansion of in-app decentralized exchange trading, which was previously limited to the Base layer 2 blockchain [4] - The integration will significantly increase the number of crypto assets available for trading on Coinbase [5] Prediction Markets and AI Features - Coinbase will introduce prediction markets for US users through a partnership with Kalshi, with plans to support contracts from other platforms in the future [6] - An AI-powered investment advisor will be available to recommend investments in stocks, cryptocurrencies, and event contracts [6]

Core Insights - Coinbase Global, Inc. has launched several new products aimed at expanding its offerings and competing with traditional investing platforms [2][3] Group 1: New Product Offerings - Coinbase introduced a stock trading feature that allows users to buy stocks directly on its platform, starting with select U.S. users [2] - The company plans to implement tokenized trading to bring more assets on-chain [2] - Coinbase has integrated with Kalshi to enhance its prediction markets, allowing users to trade various contracts using USDC or their crypto balance without needing to transfer funds [3] Group 2: Market Reaction - Following the announcement of new features, Coinbase shares rose by more than 1% in after-hours trading, reaching $247.50 [4] - Despite a nearly 8% decline in the stock over the past month due to a downturn in the crypto market, the stock remains slightly up for the year [4]

Group 1 - Coinbase announced it will allow users to trade stocks and event contracts linked to real-world outcomes, marking a significant expansion beyond its cryptocurrency origins [1] - This move aims to enhance Coinbase's competitive position against rival exchanges in the financial market [1]

Core Insights - Coinbase is expanding its platform to include traditional stock trading for U.S. customers, marking a significant update to its offerings [1] - The company plans to support thousands of equities and exchange-traded funds, introducing perpetual futures tied to stocks outside the U.S. next year [2] - Coinbase aims to enable tokenized stock trading and will allow institutions to tokenize assets, aligning with services offered by competitors [2][3] Product Offerings - Coinbase will operate as a commission-free brokerage, facilitating stock trading five days a week [2] - The platform will allow U.S. customers to trade perpetual futures, which enable traders to hold leveraged positions indefinitely [4] - Customers can trade assets supported on Solana-based decentralized exchanges directly within Coinbase's mobile app [4] Future Developments - The company is working towards offering access to tokenized stock trading in the upcoming quarter, contingent on regulatory guidance from the U.S. Securities and Exchange Commission [3] - Coinbase's model for tokenization will allow traditional shares to be wrapped and unwrapped across various blockchains while maintaining custody of the underlying stock [3] - The company plans to integrate additional prediction market platforms, following its entry into the prediction markets space [3]

Core Insights - Hyperliquid, a decentralized crypto derivatives exchange, has proposed a governance vote to remove approximately $1 billion worth of HYPE tokens from circulation following a significant price crash [1][6]. Company Overview - Hyperliquid operates as a decentralized perpetual futures exchange, allowing traders to leverage crypto assets for long or short positions. It utilizes a fully on-chain order book on its custom Layer-1 blockchain, aiming for execution speeds comparable to centralized exchanges while maintaining self-custody [2]. - The exchange has gained popularity among high-frequency traders and large market participants due to its low fees, deep liquidity on major trading pairs, and transparent liquidation and funding-rate mechanics. It is a fully permissionless derivatives platform, not requiring Know Your Customer (KYC) checks [3]. Market Performance - The HYPE token was launched on November 29, 2024, through a genesis airdrop, distributing approximately 310 million tokens, which is about 31% of its capped supply of 1 billion, without private investor allocations [4]. - On December 9, HYPE experienced a price drop of over 4% in 24 hours, continuing a trend where the token lost roughly 20% of its value over the preceding week. As of December 17, HYPE had declined by 26.9% in the past month and 52.8% in the past three months, although it had increased by 7.1% year-to-date, trading at $27.42 at the time [5]. Token Burning Proposal - The Hyper Foundation has proposed a token burning initiative in response to the significant decline in HYPE's market price, which was part of a broader sell-off affecting several high-profile crypto assets. The proposal suggests that tokens held in the protocol's Assistance Fund be recognized as permanently burned [6][7].

Core Insights - Binance has announced a significant overhaul of its token listing process to enhance transparency, tighten control, and eliminate fraudulent intermediaries [1] - The exchange has released a blacklist of individuals and firms accused of misrepresentation, indicating potential legal actions against them [2] - New listing standards are introduced to improve visibility and quality for projects on Binance's platforms, including Alpha, futures, and spot markets [3] Listing Process Overhaul - The new listing criteria aim to create a structured and transparent framework for projects seeking exposure on Binance [3] - The Alpha platform targets early-stage tokens, offering various distribution opportunities to help projects gain momentum before full market launches [3] - The exchange has faced criticism for its previous listing practices, which often led to volatility and investor distrust [6][7] Trading Volume and Market Position - Binance currently reports a 24-hour trading volume of $11.13 billion, reflecting a 28.2% decline compared to the previous period [5] - The exchange supports 441 listed coins across 1,638 trading pairs, maintaining its position as the largest cryptocurrency exchange [5] Addressing Challenges - The new standards are a response to challenges faced over the past two years, including the listing of speculative or low-quality projects that failed to provide long-term value [6][7] - The prohibition of third-party intermediaries aims to reduce scams and confusion regarding the legitimate application process for listings [7]

Binance listing. Photo by BeInCrypto Binance has launched a whistleblower reward of up to $5 million as part of a sweeping crackdown on fraudulent third-party “listing agents.” The exchange warns crypto projects that any individual claiming to influence listings on the exchange is operating illegally. Binance Offers $5 Million Whistleblower Reward as It Cracks Down on Fake Listing Agents The announcement, published Wednesday in a transparency update, comes at a sensitive moment for the world’s largest c ...

Company Overview - HashKey Holdings operates Hong Kong's largest licensed cryptocurrency exchange and recently debuted on the stock market under the code 3887, with initial trading at HK$6.70, slightly above the offer price of HK$6.68 [1] - The company raised HK$1.6 billion (US$206 million) in Hong Kong's first crypto-native initial public offering (IPO) [2] - Founded in 2018, HashKey provides services including crypto transaction facilitation, on-chain services, asset management, and tokenization [4] Market Context - The trading debut occurred amid a downturn in both equity and digital asset markets, with Bitcoin experiencing a deeper bear market due to uncertain interest-rate trajectories and profit-taking after record highs [4] - The broader Hong Kong stock market fell to its lowest level in three weeks, driven by concerns over China's economic growth and the US Federal Reserve's interest-rate policies [5] Industry Outlook - Despite short-term volatility in cryptocurrencies, there is optimism regarding the digital asset industry's future, bolstered by new legislation and clearer compliance standards [6] - The chairman and CEO of HashKey expressed confidence that a compliant approach will lead to greater longevity and sustainable growth for companies in the industry [4]

By Kane Wu, Scott Murdoch and Donny Kwok HONG KONG, Dec 17 (Reuters) - Cryptocurrency exchange HashKey Holdings Ltd made a flat debut in Hong Kong on Wednesday amid recent weakness in digital assets, but its management ​said it remains confident about the sector's long-term prospects. HashKey shares closed at HK$6.67, down 0.15% from the offer ‌price of HK$6.68. The stock rose as much as 6.6% to HK$7.12 before sliding 8.4% to an intraday low of HK$6.12. That compared with a ‌0.9% gain in the benchmark Ha ...