Coinbase Acquires Crypto Brokerage Platform Tagomi, Highlights Focus on Institutions

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Wed, 05/27/2020 - 13:32
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Vladislav Sopov
Institutional adoption is one of the mottos of top cryptocurrency market figures in 2020. The long-awaited acquisition of Tagomi proves that Coinbase is no exception
Coinbase Acquires Crypto Brokerage Platform Tagomi, Highlights Focus on Institutions
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The leading US cryptocurrency exchange ecosystem Coinbase has confirmed that it has reached an agreement with the Tagomi brokerage platform on its acquisition. What does this mean for the blockchain segment?

Acquisition confirmed

In an official statement, the Coinbase team has announced that they agreed to acquire Tagomi, an institution-level crypto brokerage platform. Through this expansion, Coinbase plans to advance its presence in the crypto infrastructure of the world’s top hedge fund and macro investors.

Coinbase highlights that this acquisition is one more step on its path to dominance in institutional cryptocurrency services. Previously, it upgraded Coinbase Custody and launched special margin trading options for institutions.

Segregated portfolio features were implemented for further diversification of large trader strategies.

Lastly, the platform hired a dedicated officer, Brett Tejpaul, the Head of Institutional Coverage, to curate this aspect of adoption.

Upgrade for the leadership

Within the business structures of Coinbase, Tagomi will account for the advance of professional trading functions. First and foremost, the new branch will offer prime brokerage services.

With this acquisition, Coinbase will be able to provide services to top clients they have come to expect in forex and equities trading.

This acquisition is subject to further approval from regulatory bodies. So, the Coinbase team expects it to be closed by the end of the year.

As we recently reported, Coinbase CEO Brian Armstrong has also hinted at an upgrade to the user interface of his service.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)