Pray, allow me to announce that Coinbase, in a most audacious move, has unveiled Ether-backed loans for its American patrons. Yes, dear reader, one may now borrow USDC against their ETH holdings without the indignity of selling, all thanks to the marvels of Morpho and the Base network. How very convenient, is it not? 🧐
This novel offering, I am informed, is available across most of the United States, with the notable exception of New York-a place, it seems, where such innovations are not quite à la mode. Variable rates and liquidation risks are, of course, tied to the whims of the market, a detail that should not escape the astute observer. And pray, what is the limit? A cool $1 million in USDC. Quite the sum, would you not agree? 💸
Coinbase, ever the ambitious suitor, plans to extend this program to other assets, including loans backed by its staked Ether token, cbETH. One can only imagine the excitement this will stir among the ton. 🥳
This venture, I must add, is a collaboration with Morpho, a decentralized finance protocol of some repute. In September, Coinbase integrated Morpho into its app, offering yields of up to 10.8% on USDC holdings. A most generous return, if one is inclined to trust such figures. 📈
According to the ever-reliable Dune data, Coinbase’s onchain lending markets have processed over $1.25 billion in loan originations, backed by approximately $1.37 billion in deposited collateral. Some $810 million in loans remains outstanding, with more than 13,500 wallets holding active borrow positions. Quite the bustling marketplace, would you not say? 🏛️
Coinbase’s Whirlwind of Activity
The Trump administration’s pro-crypto stance has, it seems, reshaped the American regulatory landscape. With the GENIUS Act establishing clear stablecoin rules in July, Coinbase has embarked on a veritable whirlwind of expansion, rolling out new products, partnerships, and acquisitions with alacrity. One can scarcely keep pace with their endeavors! 🌪️
In October, Coinbase acquired Echo for a staggering $375 million. This platform, the brainchild of crypto investor Jordan Fish, allows communities to fund early-stage projects and startups. A most noble cause, if one is to believe the hype. 🎩
That same month, the exchange announced crypto staking for New York residents and formed an alliance with Citigroup to streamline the movement of funds between crypto and traditional currencies. How very progressive! 🏦
On November 10th, Coinbase unveiled a new platform for initial coin offerings, restoring regulated access to initial token sales for US retail investors for the first time since 2018. The exchange intends to list roughly one sale per month, beginning with Monad’s token sale on Monday. A most exciting prospect, is it not? 🎟️
And finally, on Thursday, the intrepid tech researcher Jane Manchun Wong revealed on X that Coinbase is developing a prediction market website, purportedly backed by Kalshi. One can only speculate on the implications of such a venture. 🧪
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2025-11-20 21:54