Coinbase released statement regarding BTG and SegWit2X

Coinbase will keep the BTC ticker for the original bitcoin chain and at this this stage it doesn't plan to charge BTG to users
24 October 2017   3546

Coinbase has issued a new statement regarding the SegWit2x and Bitcoin Gold hardforks, confirming that, if SegWit2x implemented, it will keep the BTC ticker for the original bitcoin chain.

The new chain, respectively, will be assigned a B2X ticker.

Any customer with a BTC balance on Coinbase at the time of the fork will be credited with an equal amount of the B2X asset on the Bitcoin2x blockchain. No action is required — we will automatically credit your account. So, if you have 5 BTC stored on Coinbase before the fork; you will have 5 BTC and 5 B2X following the event.
 

David Farmer
Director of Comms, Coinbase

Refusal to confirm that the original bitcoin will retain the ticker BTC led to fierce criticism of Coinbase and even led to the fact that the largest today crypto-currency company was on the "black list" of Bitcoin.org.

However, now the company has confirmed that all users whose accounts at the moment of fork (block 494,784, tentatively on November 16) will have bitcoins, the corresponding number of B2X coins will be credited. Purchase, sale, as well as deposit and withdrawal of funds will be stopped 24 hours before the fork.

In the future, the company expects that within the next 24 hours the purchase and sale of BTC and B2x will be activated, deposits and withdrawal of funds should become available within 48 hours after the end of the year.

Also, Coinbase confirmed its position on Bitcoin Gold hardfork, saying that at this stage it does not plan to charge BTG coins to users, but it will be ready to do as soon as "blockchain proves to be secure and valuable".

Information about this fork (BTG) has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it. At that point, your account will be credited with an amount of Bitcoin Gold equal to your Bitcoin (BTC) balance at the time of the fork.
 

David Farmer
Director of Comms, Coinbase

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   174

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.