Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Coinbase Staking Is Self-Custodial, Claims CEO: But What About USDC 'Staking'?

Published 03/02/2023, 12:00 PM
© Reuters Coinbase Staking Is Self-Custodial, Claims CEO: But What About USDC 'Staking'?
COIN
-

  • Coinbase (NASDAQ:COIN) CEO has no concerns over stablecoins and is bullish on USDC.
  • Coinbase wants to work with regulators to protect customers, Armstrong said.
  • Coinbase’s staking product differs from Kraken’s, as users retain custody of funds, he said.
  • Coinbase offers 1.5% APY on holding USDC, which does not come from staking.
  • SEC’s “investigative subpoenas” to Coinbase are just requests for information, he said.
Since the FTX collapse, crypto exchanges have been under intense regulatory scrutiny. Recently, stablecoins and staking products came under the crosshairs of the US Securities and Exchange Commission (SEC).

In these circumstances, investors became jittered about the performance of crypto exchanges. One of them is Coinbase, the largest US crypto exchange.

On Thursday, Coinbase co-founder and CEO Brian Armstrong addressed investor concerns in an interview with Bloomberg TV...

Continue Reading on DailyCoin

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.