What is Coinbase? Coinbase Review, Features

Founded in 2012, Coinbase is an American Bitcoin and other digital currency trading platform.

About Coinbase

Their exchange will provide bitcoin trading services for individuals and institutions and monitor the price changes of this virtual currency in real time. The exchange will bring a certain legitimacy to bitcoin, which is not backed by the US central government and is mainly used for virtual transactions overseas. Coinbase said the company has purchased insurance so that it can provide traders with a certain amount of financial protection.

Coinbase Development History

Coinbase, which was founded in 2012, has raised more than $105 million as of January 21, 2015 and now has about 100 employees, 50 of whom work full-time at the company's San Francisco headquarters. The company hopes to launch a new website as soon as possible to help external developers build Bitcoin-based applications.

• On the morning of January 26, 2015, the first licensed Bitcoin exchange in the United States, created by Bitcoin company Coinbase, officially opened.
• On January 17, 2017, the head of the New York Department of Financial Services (NYDFS) announced that it had approved the license application of Bitcoin trading platform Coinbase, which means that Coinbase's operations in New York State have finally been officially certified.
• On March 6, 2018, Coinbase announced the launch of its first index fund, entering the asset management industry.
• On April 16, 2018, digital currency trading platform Coinbase announced the acquisition of Earn. As part of the acquisition, Earn's founder and CEO will join Coinbase as chief technology officer.
• On April 2, 2021, according to an official article released by Coinbase, the U.S. SEC has announced that Coinbase's S-1 registration statement has become effective, and Coinbase expects its Class A common stock to begin trading on the Nasdaq Global Select Market on April 14, 2021, with the stock code "COIN".
• On April 14, 2021, Coinbase was successfully listed on the Nasdaq with the stock code "COIN".
• On June 14, 2022, Coinbase, the largest digital cryptocurrency exchange in the United States, announced a restructuring plan involving 1,100 layoffs. The restructuring plan involves the layoff of approximately 1,100 people, accounting for approximately 18% of Coinbase's global workforce. After that, by the end of the current fiscal quarter on June 30, 2022, the total number of Coinbase employees will remain at approximately 5,000. Coinbase also stated that the restructuring will generate approximately $40 million to $45 million in restructuring expenses, which are basically all related to employee severance pay and other termination benefits. The vast majority of these expenses will be recorded in the second quarter of 2022 financial report. Coinbase expects that the restructuring will be basically completed in the second quarter of 2022.