Coinbase Announces Inflation-Proof Flatcoins Amid SEC Notice

Coinbase Devs Creating Flatcoins Post SEC Wells Notice

Coinbase encouraged developers working on its new blockchain to focus on creating stablecoins that track the rate of inflation to preserve purchasing power.

[{"selector":"#anim-ee586732-66ac-40a2-9f18-a00a95a3c723","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4fae1b12-9ffb-4e22-a2bc-521389c684d6","keyframes":{"transform":["translate3d(0px, 56.68306%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

They are looking for ‘flatcoins’ that do not peg to fiat but rather fill the space between fiat-pegged coins and volatile crypto assets.

[{"selector":"#anim-b0bad843-44fd-485a-8cf4-2f34edba3c36","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d7724bb4-be3c-4337-a49f-3ca5f60c8926","keyframes":{"transform":["translate3d(0px, 53.91554%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

This comes amid the long-running dispute between the U.S. Securities and Exchange Commission and the digital-asset business.

[{"selector":"#anim-df5e1987-6372-4ba6-9639-72c852c91628","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f8a31f8d-c108-4592-8df5-9c9b298f56d3","keyframes":{"transform":["translate3d(0px, 52.43952%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

SEC has threatened to sue Coinbase Global Inc. over some of the crypto exchange's products, turning up the heat on the largely unregulated sector.

[{"selector":"#anim-cccd41b9-d132-4d3b-bcc7-ec8b0b2d2a16","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-99271903-bf7d-4c41-8d5c-c656a0914454","keyframes":{"transform":["translate3d(0px, 60.55760%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Coinbase CEO Response

Post FTX Collapse, staking services such as Coinbase's Earn are under increased scrutiny for not being registered.

[{"selector":"#anim-21291d88-3f39-49ea-a89b-486ba4710abe","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-85834dc7-587b-4f3f-9478-6ffbb26e0d9d","keyframes":{"transform":["translate3d(0px, 53.51081%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Coinbase last month rolled out Base, a layer-2 blockchain that aims to make transactions on the popular Ethereum network faster and cheaper.

[{"selector":"#anim-096c827e-b303-4424-baab-48f84dfff3ca","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-97935cdb-d5f0-4d0b-ba7f-608d63601b4c","keyframes":{"transform":["translate3d(0px, 53.17753%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a1d4e1d0-d793-46eb-93f4-7d216c1966e2","keyframes":{"transform":["translate3d(-93.05263%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8a79f0b-8100-441f-b20d-6a2b910ff398","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5d6761a6-b663-4308-8918-491955f87b1b","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Are these official requests to developers steps to make Coinbase more resilient amid the global banking crisis and safeguard it from the watchdog?

[{"selector":"#anim-d4423d95-4a3b-4003-b346-05cf07f1f092","keyframes":{"transform":["translate3d(-339.43664%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-130b899d-bbe5-4da7-9752-e10ff31284f5","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] [{"selector":"#anim-a8bb6327-9d15-4781-9152-b4be51981715","keyframes":{"opacity":[0,1]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a88c7a8c-a758-4915-baec-df9ac9e99b4b","keyframes":{"transform":["translate3d(-100%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] More crypto stories...