Latest news with #CoinbasePayments
Hindustan Times
10-07-2025
- Business
- Hindustan Times
Ark Investment Management chief Cathie Wood sells $47.9 million of crypto stock
Cathie Wood, chief of Ark Investment Management, sold $47.9 million of a crypto stock over the past week after it surged 37% over the past month, as per The Street. Cathie Wood, CEO of Ark Invest, speaks during an interview.(Reuters) 2025 has been a year of highs and lows for Wood. Her investments saw good rallies when Trump was to take over as POTUS earlier this year. Given that Trump's relationship with Elon Musk was blossoming at the time, Wood's bets on Tesla, her biggest, rallied. But when the Trump-Musk relationship fell out, starting around March-April 2025, and tech stocks faced a slump, Wood's investments also suffered. As of July 3, the flagship Ark Innovation ETF (ARKK) is 23.4% year-to-date, taking over the S&P 500's 6.8% gain. Investment strategy Woods' primary strategy for buying shares has always been to target emerging tech companies in sectors like artificial intelligence, blockchain, biomedical technology and robotics. These companies, according to her, have the potential to reshape entire industries altogether. However, their volatility still poses higher risks of fluctuations in Ark's funds' values. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," Wood said in a letter published to her investors in late April where she tried to allay fears of the economy slipping into a recession in 2026. According to ETF research firm VettaFi, Ark Innovation ETF witnessed $2.1 billion in net outflows over the past 12 months through July 3 and $43 million has exited the fund in the past five days. Also read: Bitcoin price today: Why BTC is going up and is this an all-time high? Sale of crypto stock Wood's ARK funds sold 137,075 shares worth $47.9 million from June 30 to July 2. Despite this sale, the company still ranks second in Ark Innovation ETF's holdings. The company recently launched its new payment service called Coinbase Payments, which allows 24/7 USD Coin (USDC) transactions. The platform has garnered interest from retailers like Amazon and Walmart and is currently already in use by Shopify. By Stuti Gupta
Yahoo
28-06-2025
- Business
- Yahoo
Kraken Launches Crypto's Attempt at a Venmo-Killer
Kraken's rising from the decentralized deep to capsize a big ship: traditional finance. The crypto platform launched a peer-to-peer payments app yesterday that lets users instantly send 300+ crypto tokens, stablecoins and fiat currencies to friends and family in more than 100 countries. Anyone who has had to split a check with new hostel friends knows that rivals Venmo and Zelle only support payments between US users. Kraken's app, called Krak, also doesn't charge fees for cross-border payments or transfers from one currency to another, setting it apart from PayPal. Kraken's app is meant to serve as an entry point to digital assets for the crypto-cautious, with rewards of up to 10% on Krak account balances to entice new users. Krak is also part of Kraken's push into traditional finance to diversify revenue ahead of a planned IPO. READ ALSO: Dwindling IPOs Reward Investors With Return Bonanza and After Reclaiming 'World's Most Valuable Company' Crown, Nvidia Gilds the Tiara Those are the words of Kraken exec Mark Greenberg as Kraken and other crypto companies try to put their blockchain-backed spins on traditional finance: Kraken debuted tokens that represent US equities for non-US users, letting them trade representations of stocks like Nvidia and Tesla over the blockchain. It also bought futures-trading platform NinjaTrader this spring for $1.5 billion. Crypto exchange Coinbase teamed up with Shopify to launch a payments platform (creatively named Coinbase Payments) that lets merchants accept payments using the stablecoin USDC. The issuer of USDC, Circle, also introduced a cross-border payments network this spring. At the same time, TradFi isn't going down without a fight: JPMorgan Chase, Citigroup and Wells Fargo are reportedly exploring the creation of a joint stablecoin, and brokerages like Morgan Stanley and Charles Schwab are working on adding crypto trading. Hot Coin Summer: The line between traditional and digital finance has grown blurry in the Trump era as regulatory actions against crypto companies have eased. In March, the SEC dropped a lawsuit accusing Kraken of operating an unregistered securities exchange, following the agency's abandonment of a similar suit against rival Coinbase. Both sides of the finance world have read the new room and aren't missing the opportunity to try to eat each other's lunch. This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Int'l Business Times
26-06-2025
- Business
- Int'l Business Times
Coinbase Stock Jumps 40%—Is a Crypto Boom Coming?
Coinbase Global (COIN) has seen its stock surge 40% in June 2025, outpacing the S&P 500's 3% gain, driven by a favorable crypto regulatory environment and its partnership with stablecoin issuer Circle Internet Group. With analysts like Bernstein raising COIN's price target to £408 ($559), implying a 48% upside, investors are buzzing about whether this signals a broader cryptocurrency boom. Fueled by the Senate's passage of the GENIUS Act and Circle's blockbuster IPO, here's why Coinbase is soaring and what it means for the £1.6 trillion ($2.1 trillion) crypto market. Capitalise on Stablecoin Momentum Coinbase's partnership with Circle, issuer of the USDC stablecoin, is a key driver of its rally. Circle's stock (CRCL) skyrocketed 750% since its 5 June 2025 IPO, climbing from £24.80 ($33.98) to £210.76 ($288.75), fueled by the GENIUS Act's passage, which boosts stablecoin regulatory clarity. Investor's Business Daily noted on 24 June 2025 that Coinbase earns 15% of its revenue—roughly £240 million ($328 million) in Q1 2025, from USDC, sharing half its interest income with Circle. Posts on X highlight Coinbase's role as a 'one-stop Amazon of crypto services' for crypto, with @CryptosR_Us calling it a 'one-stop Amazon' for trading and stablecoin services. This stablecoin revenue, less volatile than trading fees, positions Coinbase to benefit from USDC's £48.8 billion ($66.8 billion) market cap, projected to hit £400 billion ($500 billion) by 2026. Ride Favorable Regulatory Tailwinds The Senate's approval of the GENIUS Act, requiring stablecoins to be backed by liquid assets like US dollars, has bolstered investor confidence in regulated crypto firms like Coinbase. Yahoo Finance reported on 20 June 2025 that the act could drive the stablecoin market to £1.6 trillion ($2.1 trillion) long-term, up from £208 billion ($285 billion) today. Coinbase's compliance with US regulations, including its MiCA approval in Europe, enhances its appeal as a trusted platform. Bernstein's Gautam Chhugani, cited by CNBC , called Coinbase 'the most misunderstood' crypto company, emphasizing its role in powering eight of 11 Bitcoin ETFs and handling £22 trillion ($30.1 trillion) in 2024 stablecoin transactions, surpassing Visa and Mastercard combined. On X, @aixbt_agent praised Coinbase's 'backend rails' for 200+ regulated entities, signaling institutional trust. Expand Beyond Trading Revenue Coinbase's diversification into payments, custody, and institutional services fuels its growth. Its Coinbase Payments product, integrated with Shopify, leverages USDC for low-cost transactions, while its acquisition of Deribit, the largest crypto options exchange, strengthens its institutional offerings. Nasdaq noted on 25 June 2025 that stablecoin revenue diversifies Coinbase's income, offsetting volatile trading fees. With a 'sparkling clean' balance sheet and a £76 billion ($104 billion) market cap—still below @ZaStocks' projected £80 billion ($100 billion) on X, Coinbase is poised for growth. However, risks remain: Tether's 60% stablecoin market share and potential regulatory shifts could challenge margins, per MK . Seize the Crypto Renaissance Coinbase's 40% stock surge in June 2025, backed by a £408 ($559) price target, reflects its pivotal role in a maturing crypto market. The GENIUS Act and Circle's IPO have ignited optimism, with Coinbase's stablecoin revenue and diversified services driving growth. While competition from Tether and regulatory risks loom, its infrastructure, powering ETFs, payments, and institutional trading, positions it as a crypto leader. As the £1.6 trillion ($2.1 trillion) crypto market expands, Coinbase's rally could herald a broader boom, but investors must stay sharp to navigate volatility. The future looks bright, yet vigilance is key, Coinbase is riding high, but the crypto wave demands steady hands. Originally published on IBTimes UK
Yahoo
20-06-2025
- Business
- Yahoo
Coinbase rolls out stablecoin payment solution for online retail
Coinbase has launched Coinbase Payments, a new platform designed to facilitate the use of stablecoins as a method of payment for online transactions. The platform is aimed at online marketplaces such as Shopify and eBay, which provide access to small-to-medium sized businesses seeking alternatives to traditional card payment fees. The first platform to integrate Coinbase Payments is Shopify, which recently forged partnership with Coinbase and Stripe. The collaboration enables Shopify merchants to accept the stablecoin USDC, which will be processed through Coinbase's Base network, a Layer 2 blockchain solution built on Ethereum. Coinbase Payments offers e-commerce platforms benefits such as quicker settlement times, lower transaction fees, and access to a global customer base. The service includes a checkout suite that facilitates payments from various crypto wallets, including Coinbase Wallet, MetaMask, and Phantom. Additionally, it provides a connectivity layer for merchants and payment service providers to authorise transactions, process refunds, and manage subscriptions. The platform also features a payments protocol that assists merchants in carrying out blockchain-based transactions. The product suite is designed to simplify the integration of stablecoin payments for merchants and online platforms, eliminating the need for blockchain or cryptocurrency technologies expertise. In a statement, Coinbase spokesperson said: 'We built the new system to mimic credit-card rails so it slots into existing flows with zero disruption.' Last month, Coinbase also introduced x402, a new payment protocol that enables instant stablecoin payments over HTTP. This protocol is an open standard that repurposes the HTTP '402 Payment Required' status code to incorporate stablecoin payments into web-based interactions, with the potential to change transaction processes for APIs, applications, and AI agents in the internet economy. "Coinbase rolls out stablecoin payment solution for online retail " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
