Coinbase Completes Tender Offer for 3.625% Senior Notes Due 2031

Coinbase Global, Inc. has announced the conclusion of its cash tender offer for its 3.625% Senior Notes due 2031. The offer, which aimed to purchase up to $180.0 million of the notes, excluding accrued and unpaid interest, expired at 11:59 p.m., New York City time, on September 18, 2023.

Coinbase, established in 2012, has been at the forefront of building the cryptoeconomy, aiming to create a more transparent, efficient, and accessible financial system through cryptocurrency.

The company has stated its intention to finalize payments for all validly tendered notes by September 20, 2023. This follows the conditions outlined in Coinbase’s offer to purchase, dated August 7, 2023.

By 5:00 p.m., New York City time, on August 18, 2023, holders had tendered $50,034,000 of the notes. On August 22, 2023, Coinbase accepted this amount for purchase. By the Interim Expiration Time on September 1, 2023, an additional $211,062,000 of the notes were tendered. Consequently, on September 6, 2023, Coinbase accepted this aggregate principal amount.

Data from the Global Bondholder Services Corporation, the tender and information agent for the offer, indicates that an additional $1,447,000 of the notes were tendered by the Final Expiration Time. This brings the total tendered amount in the offer to $262,543,000. Holders who tendered their notes by the Final Expiration Time are set to receive $675.00 per $1,000 principal amount of notes accepted.

A breakdown of the tender offer is as follows:

Issuer Coinbase Global, Inc.
Title of Security 3.625% Senior Notes Due 2031
CUSIP Number/ ISIN 44A CUSIP/ISIN: 19260Q AD9 / US19260QAD97; Regulation S CUSIP/ISIN: U19328 AB6 / USU19328AB62
Aggregate Principal Amount Outstanding $1,000,000,000
Aggregate Principal Amount Tendered after Interim Expiration Time $1,447,000
Aggregate Principal Amount Expected to be Accepted for Purchase on Final Settlement Date $1,447,000
Aggregate Amount to be Paid $1,001,349
Total Consideration $675.00

Citigroup Global Markets Inc. acted as the Dealer Manager for the Tender Offer. Further details and documents related to the Tender Offer can be accessed at the Tender and Information Agent’s website.

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Coinbase Suspends Trading on 41 Non-USD Pairs

On September 13, 2023, Coinbase Exchange affirmed its decision to suspend 41 non-USD trading pairs. The list encompasses the following:








This decision impacts users on three of Coinbase’s platforms: Coinbase Exchange, Advanced Trade, and Coinbase Prime.

Strengthening Market Health

The suspension stems from Coinbase’s continuous market monitoring. Their mission behind this significant action is to “improve overall market health and consolidate liquidity.” This change was scheduled “on or around 12PM ET on 13 September 2023.”

Options for Continuing Trades

Although these pairs have been suspended, trading remains viable on the platform. Users on’s Advanced Trade have been advised to leverage “more liquid USD order books by using USDC balances.” Additionally, Coinbase Exchange traders have the option to adopt “USDC unification” and utilize their USDC holdings for trades in both USD or USDC order books.

Impact on Trading Volume: Minimal

Despite the lengthy list of suspended pairs, Coinbase underscores the relative minimal impact on their business. They elucidate that “these markets constitute an immaterial portion of Coinbase Exchange’s overall trading volume.”

Coinbase’s endeavor appears to lean towards enhancing its platform’s efficiency and user experience. The rationale behind choosing these particular non-USD pairs is likely informed by the company’s regular internal market evaluations.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.


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Coinbase to Integrate Bitcoin’s Lightning Network: A Deep Dive

Coinbase has announced a significant move that could revolutionize Bitcoin transactions. CEO Brian Armstrong took to Twitter to reveal that Coinbase plans to incorporate the Lightning Network (LN), a secondary payment layer aimed at boosting Bitcoin’s transaction efficiency and cost-effectiveness. This decision highlights Coinbase’s dedication to user experience and emphasizes the critical role of the Lightning Network within the cryptocurrency sphere.

Coinbase CEO Brian Armstrong’s Announcement

In a tweet, Armstrong expressed, 

The team did a great job digging into this, and we’ve made the decision to integrate Lightning. Bitcoin is the most important asset in crypto and we’re excited to do our part to enable faster/cheaper Bitcoin transactions. Will take some time to integrate so please be patient.

Viktor Bunin, who is spearheading the integration at Coinbase, echoed Armstrong’s sentiments, stating,

Friends, I’m happy to say that I’m leading up this effort. DM me if you’d like to grab some time to chat Lightning support at @Coinbase.

Delving into the Lightning Network

The Essence of Lightning Network

The Lightning Network operates as a “layer-2” payment protocol atop the Bitcoin blockchain. Its primary objective is to facilitate rapid transactions between nodes, positioning itself as a remedy to Bitcoin’s scalability issues.

The Significance of Lightning Network

Scalability Solution: Bitcoin’s pioneering status in the crypto world came with scalability challenges. LN addresses these by enabling off-chain transactions, which are later consolidated on-chain.

Cost and Speed Efficiency: With the main Bitcoin blockchain often incurring high transaction fees, especially during peak times, LN provides a cost-effective alternative. Additionally, its ability to process transactions almost instantaneously offers a stark contrast to the sometimes prolonged confirmation times on the main blockchain.

The Mechanics of LN

The foundation of the Lightning Network is “payment channels.” In essence:

Two entities establish a payment channel, committing a specified Bitcoin amount.

They can then execute an unlimited number of off-chain transactions.

Upon completion, the final balance is updated on the main Bitcoin blockchain, allowing for the channel’s closure.

Implications for the Crypto World

Coinbase’s decision to integrate the Lightning Network is indicative of LN’s escalating importance. As its adoption proliferates:

Bitcoin might become a preferred choice for microtransactions.

The main Bitcoin blockchain could witness reduced congestion, translating to swifter and more economical on-chain transactions.

The allure of diminished transaction fees and expedited processing might incentivize more businesses to embrace Bitcoin as a payment avenue.

In summation, the Lightning Network isn’t merely a technological innovation; it’s a strategic instrument poised to influence Bitcoin’s future and its integration into daily transactions. With industry giants like Coinbase acknowledging its potential, LN is set to play a crucial role in propelling cryptocurrencies into mainstream acceptance.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Breaking: Coinbase, a16z, and Ledger Back New Texas Alliance Advocating for Clear Digital Asset Regulations

As the federal government grapples with establishing clear guidelines for digital assets, Texas emerges as a potential frontrunner in the crypto regulatory landscape. Today marks the launch of the Crypto Freedom Alliance of Texas, an entity committed to advocating for transparent and consistent digital asset regulations in the state.

Major Industry Players Rally Behind the Alliance

The Alliance isn’t a standalone endeavor. It boasts the backing of some of the crypto and blockchain industry’s most recognized names, including a16z crypto, Bain Capital Crypto, Blockchain Capital, Coinbase, Ledger, and Paradigm. This coalition, rich in technical and legal expertise, underscores the significance and potential impact of the Alliance’s mission.

A Proactive Stance in the Face of Federal Inertia

The federal government’s challenges in passing clear digital asset legislation present states with a unique opportunity. Texas, with its history of fostering innovation, is well-positioned to lead. The Alliance aims to be a cornerstone for regulators and industry stakeholders in Texas, offering insights and guidance on the rapidly evolving world of digital assets.

Kinjal Shah, Chair of the Crypto Freedom Alliance of Texas and General Partner at Blockchain Capital, emphasized the state’s potential role.

In the face of federal inaction, Texas has the opportunity to lead with policies that not only safeguard consumers and investors but also catalyze innovation,

Shah remarked.

Alliance’s Pillars: Regulation, Collaboration, Education, and Innovation

The Alliance’s objectives are clear-cut:

Transparent Regulation: At its core, the Alliance seeks to develop clear and predictable regulations for digital assets in Texas. The goal is to strike a balance – fostering innovation while ensuring consumer protection.

Stakeholder Collaboration: Recognizing the multifaceted nature of the digital asset space, the Alliance is dedicated to promoting dialogue and cooperation among regulators, consumers, and industry participants.

Education as a Catalyst: The Alliance believes in the power of education to shape favorable crypto policies. Targeted initiatives aim to enlighten a spectrum of audiences, from government officials to nonprofits, about the potential of Web3 technologies.

Championing Blockchain Ventures: Beyond regulations, the Alliance is committed to nurturing the blockchain ecosystem. Through mentorship and educational endeavors, the goal is to bolster the growth of startups and entrepreneurs in the crypto domain.

With its launch, the Alliance is poised for growth, eyeing an expanded membership and a more influential role in the Texas legislative process. An official launch event is slated for September 12 in Austin.

About the Crypto Freedom Alliance of Texas

A 501(c)6 non-profit, the Crypto Freedom Alliance of Texas champions transparent digital asset regulations in Texas. Its foundation is strengthened by the support of industry leaders like a16z crypto, Bain Capital Crypto, Blockchain Capital, Coinbase, Ledger, and Paradigm.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Coinbase Suspends Trading for $MULTI, $VGX, $OOKI, DDX, JUP, BOND

Key takeaways

* Coinbase suspends trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX).

* The decision was based on “recent reviews” to ensure the assets meet Coinbase’s listing standards.

* Users can still access and withdraw their funds in the suspended assets.

Coinbase, one of the world’s largest cryptocurrency exchanges, announced the suspension of trading for six cryptocurrencies: BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX). The suspension took effect on September 6, 2023, at approximately 9 AM PT, according to a statement released by the company.

Regulatory Compliance and Listing Standards

Coinbase stated that the decision was made after “regularly monitor[ing] the assets on our exchange to ensure they meet our listing standards.” The company did not elaborate on the specific reasons for the suspensions but emphasized that it was part of their ongoing compliance efforts. The announcement received 8,862 views, 8 reposts, 4 quotes, 25 likes, and 1 bookmark within hours of being posted.

User Impact and Next Steps

For users holding any of the six affected cryptocurrencies, Coinbase assured that “your funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.” The company directed users with further questions to their help center at

Market Response

The delisting of these coins are announced on 24 August. Typically, the delisting of a coin from a major cryptocurrency exchange triggers a downtrend for that asset. For instance, Multichain (MULTI) experienced a significant surge on September 4, spiking over 115% to reach a high of $2.447. However, before its suspension from Coinbase, the coin has retraced to $1.286.

Similarly, Ooki (OOKI) saw a 2.5% increase with a price amplitude of 19%, reaching $0.002282 on September 4. Before the delisting, it has declined to $0.00189.

Given these market responses, it’s crucial for investors to monitor coins that are slated for delisting and consider selling off their holdings when prices pump prior to the suspension.

Implications for the Cryptocurrency Industry

The suspension of these six assets highlights the ongoing challenges that cryptocurrency exchanges face in balancing regulatory compliance with a diverse asset offering. It also raises questions about the criteria used by exchanges like Coinbase to evaluate the cryptocurrencies they list.


Coinbase’s decision to suspend trading for six cryptocurrencies underscores the exchange’s focus on regulatory compliance. While the immediate market impact remains to be seen, the move serves as a reminder of the evolving landscape of cryptocurrency regulations and the importance of due diligence for both exchanges and investors.

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Coinbase CFO Alesia Haas to Speak at Barclays Global Financial Services Conference

In a fireside discussion at the Barclays Global Financial Services Conference on Tuesday, September 12, 2023, at 11:15 a.m. Eastern Time (ET) / 8:15 a.m. Pacific Time (PT), Alesia Haas, the chief financial officer of Coinbase Global, Inc., will take part. Coinbase, which was established in 2012 with the goal of developing a more “fair, accessible, efficient, and transparent financial system enabled by crypto,” has emerged as a major participant in the cryptocurrency exchange market.

Practices in Investor Relations and Disclosure

A live webcast and replay of the event will be accessible on Coinbase’s investor relations website, the company has announced. Press releases and social media platforms like Twitter, Facebook, LinkedIn, and YouTube are also included in the company’s multi-channel strategy for public disclosures. In accordance with Regulation FD, the corporation uses these venues to transmit important non-public information.

What the Fireside Chat Will Entail

Haas is expected to speak on Coinbase’s recent financial performance, strategic goals, and insights on the developing cryptocurrency industry. The exact topics of the fireside chat are yet unknown. Investors and market experts are anticipated to pay close attention to the conversation given Coinbase’s substantial influence in the cryptoeconomy.

Global Financial Services Conference of Barclays

Influential personalities in finance may discuss current trends, challenges, and opportunities at the annual Barclays Global Financial Services Conference. As it continues to shape the development of digital assets and blockchain technology, Coinbase’s participation at this high-profile event underscores its crucial position not only in the world of cryptocurrencies but also within the broader financial environment.

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Breaking: 299,998 ETH Transferred to Coinbase

Coinbase, a leading cryptocurrency exchange, has just received two significant Ethereum (ETH) transfers, totaling 299,998 ETH, or approximately $486,482,166 USD.

These transactions were reported by Whale Alert, a blockchain monitoring service. 

Coinbase was the recipient of two separate transactions, each consisting of 149,999 ETH, bringing the total to 299,998 ETH. The combined value of these transactions is estimated at around $486.5 million USD. The origin of these high-value transfers remains unknown.

Source: whale-alert

Both transfers to Coinbase were executed within the same minute, indicating a coordinated effort to move a substantial amount of Ethereum into the exchange. Transferring such large amounts to a crypto exchange often implies increased selling pressure, which could be bearish for the asset’s price.

Source: whale-alert

In a separate transaction, 15,000 ETH, amounting to $24,579,443 USD, was transferred to the crypto exchange

Ethereum co-founder Vitalik Buterin has been actively moving and selling assets, including Ethereum and Maker, over the past month. As reported by Blockchain.News, he transferred 999 ETH to a different address and deposited ETH into Bitstamp. Most recently, he sold 500 Maker (MKR) tokens for 350 ETH, valued at around $581,000, via the decentralized exchange CoWSwap. This marks his first MKR sale in two years, and the received ETH was transferred to an address with the prefix 0x3f6.

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Coinbase CEO’s Top 10 Crypto Opportunities Questioned by BlockTower Founder

On August 31, 2023, Ari Paul, the Chief Investment Officer and Founder of BlockTower Capital, engaged in a public critique of Coinbase CEO Brian Armstrong’s vision for the future of cryptocurrency. Armstrong had recently tweeted about ten key opportunities he believes are ripe for innovation in the crypto space. These areas include a decentralized cryptocurrency pegged to the Consumer Price Index (CPI), a blockchain-based reputation system akin to Google’s PageRank but for crypto addresses, decentralized advertising through smart contracts, a decentralized method for startups to raise funds globally, a marketplace for labor where tasks can be posted and paid for in cryptocurrency, optional privacy features for Layer 2 solutions, a fully decentralized on-chain peer-to-peer exchange, games with in-game items as NFTs, tokenizing real-world assets like debt and commodities, and software tools for managing small communities that could evolve into self-governing entities.

Paul, while acknowledging Armstrong’s significant contributions to the crypto industry, offered a nuanced critique of these ten opportunities. He argued that the concept of flatcoins, or cryptocurrencies pegged to stable values like the CPI, was not particularly novel and urged entrepreneurs to bring “an idea for something 10x better.”

He was more skeptical about on-chain reputation systems, labeling them a “dead-end for at least five years” and cautioning that they could lead to financial losses. On-chain advertising was interesting but fraught with “big tech stack & UX friction,” according to Paul.

He agreed with Armstrong on the subject of on-chain capital formation, calling it a “natural fit for cryptocurrency.” However, he dismissed the idea of a global job market paid in cryptocurrency as not inherently related to crypto, suggesting instead that adding crypto payments to existing platforms like Mechanical Turk would suffice.

Paul also emphasized the challenges in monetizing privacy-related features in Layer 2 solutions but noted the humanitarian benefits of such tools. He lamented the underfunding of peer-to-peer exchanges, calling them a “core and critical part of the cryptocurrency value proposition.”

On the topic of on-chain games and NFTs, Paul admitted to being overly optimistic in the past but remained excited about the sector’s potential. He was enthusiastic about tokenizing real-world assets, calling it his “favorite theme.” However, he was less bullish on the idea of tools for network states, although he acknowledged their potential for business coordination.

Paul concluded by admitting that he agreed with Armstrong on more points than he initially thought, stating, “My headline tweet [was] a little misleading.” His critique serves as a reminder that while the crypto industry is ripe for innovation, not all proposed paths hold equal promise. His comments underscore the need for critical evaluation and debate as the sector continues to evolve.

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Native USDC Integration on Base Blockchain

Circle has announced the upcoming launch of native USDC on the Base blockchain. The announcement, part of Circle’s #StableSeptember series, outlines the benefits and implications of this integration for both developers and users.

Key Takeaways

– Native USDC will be the “official form” of USDC for the Base ecosystem.

– The token aims to replace the currently circulating bridged USDbC liquidity originating from Ethereum.

– Native USDC will be “fully reserved and always redeemable 1:1 for US dollars,” according to Circle’s official blog.

– The launch will facilitate institutional on/off-ramps.

The Official Form of USDC

According to the official blog post from Circle, native USDC issued by Circle will be considered the “official form” of USDC within the Base ecosystem. The token address for this native USDC is 0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913. This move is expected to gradually shift liquidity from the bridged USDbC token, which has its roots in Ethereum and holds the token address 0xd9aAEc86B65D86f6A7B5B1b0c42FFA531710b6CA.

Liquidity and Transition

The blog post also mentions that over time, native USDC liquidity “may replace” the currently circulating bridged USDbC liquidity. Base will collaborate with ecosystem apps to offer a smooth, optional transition from USDbC to native USDC. Importantly, there will be “no immediate changes to Base Bridge,” which will continue to operate as usual.

Institutional On/Off-Ramps

One of the key benefits cited is the enablement of institutional on/off-ramps. While the blog does not delve into specifics, the 1:1 redeemability for US dollars suggests a level of stability and trust that could attract institutional investors.

Upcoming Launch Details

Details about the launch, including the ecosystem apps that will support the swap from USDbC to native USDC, will be shared by @BuildOnBase on the launch day. A tweet from Coinbase confirmed that both native and bridged USDC will “continue to coexist on Base.”

Summary of Coinbase’s Base Network

Base, incubated within Coinbase, is an Ethereum Layer 2 (L2) network designed to offer a secure, cost-effective, and developer-friendly environment for building on-chain applications. Launched on February 23, 2023, in testnet phase, Base is developed in collaboration with Optimism and is built on the open-source OP Stack. It aims to provide enhanced scalability, faster transaction speeds, and reduced gas fees, all while maintaining the security measures of Ethereum’s mainnet. Base also offers seamless integration with Coinbase’s ecosystem, giving developers access to 110 million verified users and over $80 billion in assets. Despite rumors, Coinbase has clarified that they do not currently plan to issue a new network token for Base; ETH will serve as the native gas token.

Implications and Future Outlook

The integration of native USDC into the Base ecosystem could have far-reaching implications. It not only offers a more stable and official stablecoin option but also potentially streamlines transactions and lowers costs. As #StableSeptember unfolds, more details are expected to emerge, shedding light on how this move will shape the Base ecosystem and beyond.

In summary, the upcoming native USDC launch on Base is a noteworthy development in the stablecoin arena, offering benefits like enhanced liquidity and institutional access. As the launch date approaches, all eyes will be on how this integration impacts the Base ecosystem and the stablecoin market at large.

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Base Unveils Its Decentralized Superchain Vision Powered by OP Stack

Base, the Ethereum Layer 2 (L2) solution incubated at Coinbase, recently spotlighted its unwavering dedication to decentralization, aligning seamlessly with the Superchain vision. Born out of a collaboration with the Optimism Collective, Base utilizes the open-source OP Stack, aiming to bring a billion users and a million developers into the blockchain ecosystem. This ambitious goal is anchored in the principle of decentralization, seen as the linchpin for a global, open, onchain economy. 

The OP Stack, maintained by the Optimism Collective, is the open-source development stack that powers Optimism. It comprises various software components that together form Optimism’s backbone, designed as a public good for both Ethereum and Optimism ecosystems. The stack’s primary focus is on creating a shared, high-quality system for generating new L2 blockchains.

This coordination on shared standards helps avoid repetitive software creation in isolated silos. While the current core of the OP Stack is infrastructure for L2 blockchains, it extends to tools like block explorers, governance systems, and more. The Bedrock release of the OP Stack supports the Optimism Superchain, a proposed network of L2s sharing security, communication layers, and a common development stack.

The choice of the OP Stack as the foundation is strategic. Recognized as a universally accessible asset, it beckons every developer. As teams like Base and OP Labs converge, the mission is clear: reinforce the OP Stack. This shared aspiration with the Optimism teams paints a picture of Ethereum’s future—a “Superchain” of interconnected rollups and L2s.

Base’s commitment to decentralization isn’t just theoretical. The platform is on a quest to decentralize its core while bolstering the OP Stack. With technical advancements on the horizon, Base aims to transition from a Stage 0 to a Stage 2 L2, a categorization attributed to Ethereum’s co-founder, Vitalik Buterin. This collaboration with the Optimism Collective promises to elevate the OP Stack’s trifecta of scalability, reliability, and decentralization.

On the technical front, Base’s roadmap is laden with milestones. From refining op-geth and op-node for enhanced scalability to backing the op-reth initiative for diversified clients, the path is well-defined. Additionally, the advent of “Pessimism” is set to amplify the OP Stack’s monitoring prowess.

Base’s allegiance to the “Law of Chains” is steadfast. This framework sketches out standards for Superchain protocols, emphasizing neutrality and a decentralized security model. It also offers a protective shield for users and operators. Base’s launch strategy is meticulously crafted to obliterate centralization bottlenecks.

In a philanthropic stride, Base pledges to allocate a portion of its sequencer revenue to the Optimism Collective. This contribution is earmarked as either 2.5% of Base’s sequencing revenue or 15% of L2 transaction profits after accounting for L1 data submission costs. Moreover, Base’s foray into onchain governance is commendable, with prospects of acquiring up to 2.75% of the OP token supply over six years.

In conclusion, Base’s fervor for the Superchain vision is palpable. In synergy with the Optimism Collective, the objective is lucid: establish a robust foundation for the OP Stack and the Superchain, heralding a new era in the blockchain realm.

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Bitcoin (BTC) $ 26,609.13 0.09%
Ethereum (ETH) $ 1,594.86 0.57%
Litecoin (LTC) $ 64.49 0.39%
Bitcoin Cash (BCH) $ 208.33 0.09%