- Coinbase recently introduced ZetaChain (ZETACHAIN) and Across Protocol (ACX) to its listing roadmap, expanding its digital asset portfolio.
- ZetaChain aims to enhance blockchain interoperability, while Across Protocol is designed to facilitate efficient cross-chain transactions.
- Paul Grewal, Coinbase’s Chief Legal Officer, remarked on the SEC and FDIC’s responses to Coinbase’s FOIA litigation regarding withheld documents.
Discover Coinbase’s latest crypto additions and the ongoing legal skirmishes with regulatory bodies, shedding light on the evolving digital currency landscape.
Coinbase Expands Digital Asset Offering
Coinbase has underscored its commitment to broadening its array of digital assets by incorporating ZetaChain (ZETACHAIN) and Across Protocol (ACX) into its listing roadmap. This move aligns with Coinbase’s strategic aim to provide its users with access to cutting-edge blockchain projects.
Understanding ZetaChain and Across Protocol
ZetaChain is a Layer 1 (L1) blockchain platform that emphasizes seamless interoperability across multiple blockchain networks. This is poised to enhance the integration and functionality of decentralized applications (dApps). Conversely, Across Protocol utilizes Optimistic rollups, a solution that scales Ethereum by enabling swift and cost-effective transactions without compromising network security. This integration supports Coinbase’s objective of offering diverse and innovative digital assets.
Recent Developments on Coinbase Platforms
In recent announcements, Coinbase revealed plans to support Degen, EOS, and SATS perpetual futures on Coinbase International Exchange and Coinbase Advanced. The DEGEN-PERP, EOS-PERP, and 1000SATS-PERP markets are set to launch on August 15 at 9:30 a.m. UTC, further diversifying trading options for users.
Coinbase International Exchange and Meme Coins
New trading pairs such as MEW-PERP, MEME-PERP, and JASMY-PERP have been made fully available on Coinbase International Exchange and Coinbase Advanced. This expansion caters to the growing interest in meme coins and enhances the platform’s trading versatility.
Legal Challenges Facing Coinbase
Paul Grewal, Coinbase’s Chief Legal Officer, outlined in a recent update the ongoing legal challenges with the SEC and FDIC. The exchanges involve FOIA litigation where Coinbase contends that the regulatory bodies withheld crucial documents from concluded investigations, including those related to Ethereum 2.0. Although both agencies acknowledged the existence of the documents, they claimed governmental privileges as reasons for withholding them.
Future Outlook on Legal Proceedings
Grewal mentioned that the SEC’s admissions could potentially pave the way for a summary judgment briefing, given that there’s no discovery phase required in these cases before a decision on the merits. This critical decision is anticipated to occur in 2025, marking a significant event to watch for stakeholders and observers within the crypto industry.
Conclusion
Coinbase continues to stay at the forefront of the crypto space through strategic asset diversification and formidable legal efforts. The addition of ZetaChain and Across Protocol to its listing roadmap exemplifies its commitment to innovation and user engagement. Meanwhile, the unfolding legal proceedings with the SEC and FDIC highlight the complex regulatory environment crypto exchanges navigate. Stakeholders should closely monitor these developments as they could have substantial implications on the future regulatory landscape.
