Coinbase has announced the launch of its own layer 2 scaling solution called Coinbase Base Protocol. The protocol is designed to address Ethereum's scalability issues and provide faster and cheaper transactions. The new solution is compatible with Ethereum, allowing developers to port their smart contracts onto the platform easily. The move is expected to improve Coinbase's user experience and attract more developers to build on top of the platform.
0/ 🔵 Hello world.
— Base (@BuildOnBase) February 23, 2023
Meet Base, an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone, anywhere, to build decentralized apps.
Our goal with Base is to make onchain the next online and onboard 1B+ users into the cryptoeconomy.https://t.co/Znuu3o3pJw
Coinbase Suspends Binance USD Stablecoin Listing for Not Meeting Listing Standards
Coinbase, one of the largest cryptocurrency exchanges, has announced that it will suspend the listing of Binance USD (BUSD) stablecoin on its platform. Coinbase cited the stablecoin's failure to meet its listing standards as the reason behind the move. BUSD is a stablecoin pegged to the US dollar and is issued by the Binance exchange. Coinbase stated that it is committed to offering its customers a wide range of stablecoin options and will continue to evaluate and update its listing standards as the cryptocurrency industry evolves. The suspension of BUSD listing is expected to take effect in the coming weeks.
Ukraine Receives $70M in Crypto Donations Since Start of Russia Conflict
According to Ukraine's Ministry of Defense, the country has received $70 million in cryptocurrency donations since the start of the Russia-Ukraine conflict. The donations have been used to purchase equipment, supplies, and other essentials for the Ukrainian military. The majority of the donations have come in the form of Bitcoin, but other cryptocurrencies such as Ethereum and Litecoin have also been donated. Ukraine has been a strong supporter of cryptocurrencies, with the government adopting a pro-crypto stance in recent years. The use of cryptocurrencies for charitable donations and other social causes is becoming increasingly common around the world.
Crypto Community Reacts to Solana Outage
The Solana blockchain experienced an outage on February 28th, 2023, causing network congestion and delays in transaction processing. The issue lasted for several hours, during which time Solana's price dropped by over 10%. The outage triggered a strong reaction from the crypto community, with many users expressing frustration and disappointment on social media. Some users accused Solana's developers of not adequately preparing for the platform's growth and demand, while others defended the blockchain, saying that such issues are common in the cryptocurrency industry. The incident highlights the importance of scalability and infrastructure development in the blockchain industry. Solana has since announced that the issue has been resolved, and the network is functioning normally again.
Solana is down for a co-ordinated restart
— Crypto Tea (@CryptoTea_) February 25, 2023
A tech issue was throttling transactions and the blockchain started to unexpectedly fork
How is this pos in the top 10 crypto list?
France Close to Passing Strict Crypto Firm Licensing Laws
France is on the brink of passing stringent licensing laws for cryptocurrency firms that will require them to obtain a license from the French financial regulator. The proposed laws are aimed at reducing the risks associated with cryptocurrencies and protecting consumers from fraud and scams. The licensing requirements will include background checks, capital requirements, and cybersecurity measures. Failure to comply with the regulations could result in hefty fines or even jail time. The move is part of a wider trend among governments and financial regulators around the world to impose stricter regulations on the cryptocurrency industry. The proposed laws are expected to come into effect later this year.
Visa Remains Committed to Crypto Strategy Despite Market Downturn
Visa, one of the largest payment processing companies in the world, has stated that it remains committed to its crypto strategy despite the recent market downturn. The company has been exploring various crypto-related initiatives, including partnerships with cryptocurrency wallets and exchanges, and the development of its own blockchain-based payment systems. The company's CEO, Al Kelly, said that the company is focused on the long-term potential of cryptocurrencies and blockchain technology, rather than short-term market fluctuations. The statement reflects a growing trend among traditional financial institutions to embrace cryptocurrencies and blockchain technology, recognizing their potential to transform the payments industry. Visa's commitment to the crypto space is expected to encourage further adoption and investment in the industry.
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