Coinbase Acquires Decentralized Crypto Wallet

Cipher Browser is the full-featured mobile dapp browser and wallet for the Ethereum blockchain, which allows users to interact with dapps powered by Ethereum
16 April 2018   1336

A week ago we have reported about the launch of Coinbase Ventures, whose goal is to help the most compelling companies to flourish. Its focus is on building strong relationships and helping to spur on the development of the ecosystem. It has emerged that Coinbase is going to buy the open source, decentralized application and wallet, Cipher Browser.

Coinbase and CipherCoinbase and Cipher

Cipher Browser is the full-featured mobile dapp browser and wallet for the Ethereum blockchain, which allows users to interact with dapps powered by Ethereum on mobile devices, and makes it easy to securely store, send and receive Ether and ERC20 tokens.

Both companies are committed to building the best Web 3 experience on mobile, as the Cipher Browser stated. 

Previously we have reported that Coinbase announced that in the coming months it will provide its users with the opportunity to withdraw coins that appeared as a result of the forks of the Bitcoin network.

Coinbase to Close Chicago Office

Despite half of billion 2018 revenue, 30 employees of the biggest US crypto exchange are going to lose their jobs
24 April 2019   176

The leading cryptocurrency exchange and the wallet provider Coinbase decided to close its office in Chicago. About 30 employees will lose their jobs, said President and COO Asiff Hirji in an interview with the Wall Street Journal.

The Chicago unit focused on high-frequency trading (HFT) traders, and the potential increase in activity in this area could lead to an increase in Coinbase trading volumes and revenues. However, this direction, apparently, is no longer included in the priority list.

HFT companies play a large, albeit controversial role in the US stock and futures markets. According to some estimates, they account for about half of the daily trading volume on the stock exchanges, but more traditional investors are wary of them, suggesting that such firms take profits from them, going in and out of stocks, while slower players make deal.

Coinbase announced plans to attract HFT traders through technical updates, including speeding up the engine for matching trade requests last year.

Asiff Hirji also noted that as of the end of 2018, Coinbase had about 600 employees, and despite the elimination of 30 jobs in Chicago, the company intends to further expand this number.

Earlier this month, it was reported that in 2018, a Californian company, despite the market decline, earned about $ 520 million.