Coinbase listing is imminent, Bitcoin breaks new high to 63,000 US dollars, the regulatory sword behind the popularity is still hanging high

A moment in history is coming. On April 14th, US Eastern Time, Coinbase will ring the bell for listing (code COIN) on Nasdaq, which means that the compliant cryptocurrency exchange has been recognized by US regulators.

According to Bloomberg, the valuation of Coinbase may be as high as about 100 billion U.S. dollars, which is more than the combined market value of the Nasdaq exchange and the parent company of the New York Stock Exchange. The listing of Coinbase will be a milestone for the industry, and its performance will also test the recognition of investors for other cryptocurrency start-ups.

On the eve of the listing of Coinbase, mainstream currencies such as Bitcoin and Ethereum, as well as the platform currencies of major cryptocurrency exchanges collectively hit a record high, and the currency circle exploded for a while.

Alternative Weapons for Coinbase Listings — Compliance

Unlike other exchanges, there is no large number of listings, no leveraged contract transactions, and deep cultivation of compliance - Coinbase seems to have chosen the most difficult path, but in fact it is the most accurate path. the

Shell Academy and Coinhub have reached a strategic cooperation: According to official news, Shell Academy and the decentralized wallet Coinhub have reached a strategic cooperation. The two parties will carry out in-depth cooperation in community cooperation, resource sharing and other fields to jointly promote the development of Defi ecology. In this cooperation, Coinhub will customize an exclusive "airdrop card" for Shell Academy users, and Shell users who hold the "airdrop card" will enjoy exclusive airdrops on the Coinhub platform.

Shell Academy is an industry education institution focusing on the frontier field of blockchain (primary market). Through the establishment of education and training courses, the Industry Research Institute helps students establish a correct investment concept and analysis ability.

Coinhub is a digital asset management service platform that manages multi-chain digital assets, serves global DeFi projects and investors, and provides decentralized ecological data. [2021/9/23 17:00:27]

Since its founding in 2012, Coinbase has been working tirelessly to obtain a regulatory license. In the past 9 years, it has been sitting on the Money Transmitter License of 50 states in the United States. Obtain permission to legally trade legal currency and open up payment channels. the

Andy Tian, co-founder of 1475: The division of labor on the Filecoin mining track is becoming more and more clear: On June 22, 2020, the "Interstellar Hovering Guide" was hosted by Jinse Finance, hosted by Node Consulting and IPFS100.com, and co-sponsored by Interstellar Agent and Mac Storage. ——IPFS Technology and Application Research Forum" kicked off in Shenzhen. On the forum, Andy Tian, co-founder of 1475, pointed out in his keynote speech entitled "Ecological Value, Another Hidden Gold Mine of Filecoin" that now the Filecoin mining track is often a brand owner who does everything. But in the future, the division of labor will become more and more clear, including specialized mining machines, operation and maintenance services, mining pools, cloud computing power, and mining software optimization. [2020/6/22]

In addition to the exchange business, Coinbase has also applied for and acquired licenses on a large scale in the upstream and downstream of the industry chain. Currently, Coinbase has a series of financial licenses for payments, savings, loans, financial derivatives transactions, alternative asset transactions, brokerage transactions, and investment consultants. the

In the compliance process of Coinbase, the former chief legal officer Brian Brooks played a pivotal role, cooperating with various regulatory agencies and leading the establishment of the Crypto Rating Council (CRC), an industry alliance. In 2020, Brian Brooks was also hired to head the Office of the Comptroller of the Currency (OCC), which oversees the U.S. banking industry. the

Dynamics | Coinbase cold wallet Bitcoin may reach 1 million in February: According to Cointelegraph on January 24, on January 23, LongHash data showed that the US cryptocurrency exchange Coinbase will soon hold one hundred bitcoins in its cold wallet. There are 10,000 bitcoins (BTC), currently there are about 970,000 bitcoins, worth about 8 billion U.S. dollars. According to the current growth rate, the million mark may be reached in February. [2020/1/25]

Due to Coinbase’s compliance-focused business strategy, it not only obtained regulatory approval and became the world’s first IPO cryptocurrency trading platform, but also made it recognized by mainstream financial institutions and became a big winner in this bull market . the

Judging from the user and transaction data disclosed by Coinbase in the S-1 filing, as of December 31, 2020, Coinbase's customers mainly include approximately 43 million retail users and 7,000 institutions from more than 100 countries. At the same time, the total value of fiat currencies and cryptocurrencies held by Coinbase on behalf of customers was US$90.3 billion, an increase of 432.2% from last year, of which the total value of cryptocurrencies was US$86.8 billion, accounting for 11.1% of the total market value of the entire encryption market. the

News | 2,364 bitcoins were transferred from Coinbase to an unknown address: According to Whale Alert monitoring, at 11:56 Beijing time, 2,364 bitcoins were transferred from multiple Coinbase addresses to an unknown address beginning with 36DQq. [2019/12/16]

By the first quarter of 2021, Coinbase's performance has grown by leaps and bounds, achieving revenue of US$1.8 billion, a surge of 844% over the same period last year, and net profit of nearly US$800 million. the

After wading through rivers and hills, in the future, Coinbase will devote itself to creating an open financial system application serving 10 people. the

As far as the industry is concerned, the listing of Coinbase means that the US Securities Regulatory Commission has fundamentally recognized the transaction of encrypted assets as a legal asset. And this recognition will drive more exchanges to seek compliance. After compliance, Old Money in the traditional market can also invest and trade encrypted assets under the premise of safety supervision and legal protection. the

Bitcoin breaks new high to 63,000 US dollars, and platform currencies rise one after another

Or stimulated by the favorable listing of Coinbase, various platform coins took off. OKB rose 6.46% on April 12, and reached as high as $24.68 before breaking through, and now temporarily pulls back to $21.21; BNB also rose 13.46% on the same day, and reached a peak of $638.56, and now temporarily fell back to $562; It rose 6.11% on the day to $22.76, but there is still a distance from the peak of $26.89 on February 19, and HT is currently at $20.68. the

Analysis | Facebook's Globalcoin has the potential to replace Tether: According to financemagnates, for Facebook's cryptocurrency Globalcoin plan, Erica Stanford, founder of Crypto Curry Club & Technicurries, said that there has not been any reliable stable currency so far, and Facebook has the potential to do it, Create a fully stable fiat-backed digital token. Additionally, Globalcoin, if pegged to the U.S. dollar, euro, and yen, would be more stable than the fiat currencies of many countries. [2019/5/31]

In addition, on April 13, Bitcoin hit a record high of $63,766, an intraday increase of 5.61%; Ethereum also hit a record high of $2,298, an increase of about 7.11%. Other cryptocurrencies such as XRP rose 23.25% to $1.86, ADA rose 6.83% to $1.4, DOT rose 3.96% to $42.06, and LTC rose 10.92% to $271. the

In addition to the favorable listing of Coinbase, enterprises and institutions are still enthusiastic about Bitcoin.

On the 12th, MicroStrategy announced that its board of directors will be paid in bitcoin; to date, the company has invested more than $5 billion in the cryptocurrency.

Meitu Technology has also increased its holdings of Bitcoin several times. On March 17, Meitu purchased 16,000 units of ether and 386.08581655 units of bitcoin in open market transactions, totaling $50 million. On April 8, Meitu Technology purchased bitcoin for the third time, totaling $10 million. the

Institutions that once unanimously rejected Bitcoin have now embraced it. Goldman Sachs Group Inc. and Morgan Stanley previously announced plans to offer cryptocurrency investments to their clients. Tesla Inc., which disclosed a $1.5 billion investment in bitcoin earlier this year, recently began accepting it as payment for electric vehicles. the

Like every time it broke through its historical highs before, Bitcoin is now unpredictable. However, the continuous entry of institutions has led many in the cryptocurrency industry to expect that Bitcoin will climb to a level higher than its current price. the

On April 13, Li Qiyuan, former BTCC and Bitcoin China co-founder, said that once Bitcoin breaks through 62,000 US dollars, the journey from 63,000 US dollars to 69,000 US dollars will be very short, and it will soon see it break through 70,000 US dollars . the

Analyst Max Keiser said, "Bitcoin will reach $77,000 in the short term and will reach $220,000 by 2021." 

“There’s no question that the bull market is far from over,” said Antoni Trenchev, co-founder and managing partner of Nexo.

Under the hot market, there are still uncertainties in supervision

Although the listing of Coinbase has encouraged the currency market to a certain extent, allowing people in the currency circle to see samples under the US cryptocurrency regulatory balance technique, but this does not mean that regulation will open the floodgates to cryptocurrencies. the

Jesse Powell, chief executive of Kraken, the world's fourth-largest digital currency exchange, has warned that governments could start restricting the use of bitcoin and other cryptocurrencies. the

Rui Si Finance previously reported that Russia is stepping up monitoring of cryptocurrency and fiat currency transactions. The Central Bank of Russia recently updated and approved amendments to Regulation No. 375-P. Regulation No. 375-P refers to the requirements for the internal control rules of credit institutions under the framework of anti-money laundering and anti-terrorism financing issued by the Central Bank of Russia. The ordinance lists the characteristics of more than a hundred suspicious transactions, including transactions in cryptocurrencies. It is reported that the amendment to the regulations will come into effect on October 1, 2021. the

Herman Neglyad, a representative of Russia's anti-money laundering agency Rosfinmonitoring, also said that the agency will monitor transactions involving exchanges from cryptocurrencies to fiat currencies. And the bank has already begun to cooperate with this work. the

In addition, according to a Bloomberg report on March 12, the U.S. Commodity Futures Trading Commission (CFTC) is conducting an investigation into Binance. The content-zce of the investigation is whether Binance allows American users to trade on the platform without being regulated by the U.S. government. commodity futures. the

"I think there might be some crackdown," Jesse Powell said in an interview.

Powell doesn't think the regulatory uncertainty surrounding crypto is going away anytime soon. The U.S. government recently proposed an anti-money laundering rule that would require identity checks for individuals holding cryptocurrencies in digital wallets for transactions of $3,000 or more. the

In early March this year, the US Senate held hearings on candidates for the chairman of the Securities and Exchange Commission (SEC) and the head of the Consumer Financial Protection Bureau (CFPB). At the hearing, SEC chairman candidate Gary Gensler stated that the SEC must eradicate fraud in the cryptocurrency market.

Gensler also said that cryptocurrencies bring new ideas to payments and financial inclusion, but also raise concerns about investor protection.

Goldman Sachs CEO David Solomon also said recently that he believes that the Bitcoin and digital currency world will soon undergo a "big change", especially in terms of regulation in the United States.

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