Coinbase

Coinbase was founded in July 2011 by former Airbnb engineer Brian Armstrong and was first funded by Y Combinator. In 2012, co-founder Fred Ehrsam, a former Goldman Sachs trader, joined the company.

On February 8, 2013, Y Combinator-backed Coinbase was reported to be selling over $1 million worth of Bitcoins per month by VentureBeat.

On May 7, 2013, Coinbase received $5 million in funding, marking the largest investment for a Bitcoin startup at that time.

Litecoin creator Charles Lee left Google to join Coinbase in August 2013.

Coinbase collaborated with Shift Payments to launch a Bitcoin Visa debit card, allowing users to spend their Bitcoin balance in everyday transactions.

Coinbase announces the addition of ether, the digital currency of Ethereum, to its trading platform. This move is significant as it shows confidence in the virtual currency and its smart contract capabilities.

Coinbase leads the launch of a legal framework to determine if blockchain tokens are considered securities.

Coinbase collaborates with Coin Center, Consensys, and Union Square Ventures to create a decision matrix to assist developers in navigating the regulatory challenges in blockchain and cryptocurrency innovation. The framework emphasizes the importance of understanding US law and aims to mitigate legal risks for developers of new tokens.

Coinbase obtains the New York BitLicense, allowing it to operate as a Bitcoin exchange in the state.

On March 22, 2017, Coinbase received approval from New York to offer ether trades, expanding its cryptocurrency trading services.

In March 23, 2017, Coinbase received approval to offer trading of Litecoin and Ethereum in New York state. This expansion marked a significant milestone for Coinbase in the cryptocurrency market.

Coinbase introduced a new subsidiary brand called Token, which offers a secure messaging app, Ethereum wallet, and a browser for Ethereum apps. Token aims to promote financial inclusion through digital currency and simplify the process of building and using Ethereum apps.

In June 2017, American computer scientist Charlie Lee made the decision to resign from Coinbase in order to fully commit himself to the development of Litecoin. This move showcased Lee's dedication to advancing the Litecoin project and its technology.

In September 2017, Coinbase achieved a significant milestone by reaching 10 million users on its wallet and exchange platform.

Coinbase introduces 'Vaults' for Ethereum and Litecoin, offering enhanced security features like a 48-hour withdrawal delay and email approvals for stored digital currency.

United States magistrate judge Jacqueline Scott Corley ruled in favor of a Coinbase customer, allowing them to challenge the IRS's summons anonymously. The case began in November 2016 with the IRS's petition to serve a summons on Coinbase, which was granted later that month.

Coinbase introduced Coinbase Custody, a service designed to securely hold digital assets for institutional investors. The service is exclusive to funds storing $10 million or more with Coinbase, featuring an initial setup fee of $100,000 and a monthly storage fee of 0.10%. Institutional investors gain access to various security features and support options.

On December 19th, 2017, Coinbase surprised users by listing a fourth asset: bitcoin cash, leading to a significant increase in trading volume and price of bitcoin cash.

Coinbase is required by the U.S. Internal Revenue Service to share identifying information of users with over $20,000 in annual transactions between 2013 and 2015. In response, Coinbase announces on February 23, 2018, that it will disclose user data including taxpayer ID, birthdate, address, and transaction history of 13,000 affected customers to the IRS within 21 days.

Coinbase, a cryptocurrency exchange platform, announces the acquisition of Cipher Browser, a decentralized app browser and wallet for the Ethereum blockchain. This acquisition involves combining teams and integrating features to enhance Coinbase's own decentralized mobile browser, Toshi.

Coinbase acquires Paradex, a decentralized exchange platform that expands the range of cryptocurrencies available to customers.

Coinbase acquires Keystone Capital to offer services like crypto securities trading and margin trading, aligning with the trend of increasing ICO funding for startups.

On July 13, 2018, Coinbase revealed its intention to include Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX) on its platform. The company aims to collaborate with local banks and regulators to expand the availability of these assets globally, although further assessments are needed before all coins can be fully operational for customers.

Coinbase receives approval from the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority to sell tokenized securities, allowing the company to expand its offerings to include initial coin offerings (ICOs) and other tokenized securities.

Coinbase acquires startup Distributed Systems, known for developing an identity standard for decentralized apps (dApps). The team and technology of Distributed Systems join Coinbase to work on a new decentralized identity team and a product called 'Login with Coinbase'.

Coinbase has filed a patent for a payment portal that enables users to securely make Bitcoin payments directly from their digital wallet. The system involves a 'key ceremony' to create encrypted key shares and an operational master key for encrypting private keys during transactions.

Coinbase announces the introduction of new order book trading pairs for British pounds (GBP) against Ethereum, Bitcoin Cash, Ethereum Classic, and Litecoin, in addition to Bitcoin. The new pairs will undergo a phased rollout starting with a 'post-only' phase and then a 'limit-only' stage before full trading services are offered.

Coinbase introduced a new policy allowing developers to apply for their tokens to be listed on the platform through an application form. The company will no longer provide advance notice of new asset additions, aiming to rapidly list assets meeting quality criteria and legal compliance.

Coinbase announced that retail investors can now trade the 0x Protocol token (ZRX) on its platform, including coinbase.com, as well as its Android and iOS apps. ZRX is the first ERC-20 token to be listed by the exchange.

On October 23, 2018, Coinbase received approval from the New York Department of Financial Services to establish a qualified custodial firm for various cryptocurrencies. This approval enables Coinbase Custody Trust Company to provide custody services for Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and XRP, subjecting the exchange to fiduciary standards and oversight similar to traditional financial institutions in New York.

Coinbase reveals the launch of full trading of the Basic Attention Token (BAT) on their platform, allowing customers to buy, sell, send, receive, or store BAT. However, this service is not available for residents of New York. The announcement results in a significant increase in the price of BAT.

Coinbase expands its cryptocurrency offerings by acquiring Neutrino, a blockchain analytics startup based in Italy. The deal's financial details were not disclosed. However, the acquisition faced backlash from the cryptocurrency community due to Neutrino's founders' association with a controversial spyware company.

Coinbase expands its services to Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand, allowing users in these countries to trade cryptocurrencies. This move increases the exchange's global presence to 53 countries across four continents.

Coinbase co-founds the Crypto Rating Council along with other major cryptocurrency companies like Anchorage, Bittrex, Circle, DRW Cumberland, Genesis, Grayscale Investments, and Kraken. The council aims to assist cryptocurrency firms in determining their compliance with current U.S. federal securities law.

Coinbase acquires Argentinian startup Xapo, known for operating a Bitcoin trading platform and storing Bitcoins in a vault under a Swiss mountain. The $55 million deal significantly boosts Coinbase's cryptocurrency assets to over $7 billion and gives it control of 5% of all circulating Bitcoins.

Coinbase became the first 'pure' cryptocurrency firm to be approved as a Visa Principal Member.

Brian Brooks, former Chief Legal Officer of Coinbase, is appointed as the Chief Operating Officer of the Office of the Comptroller of the Currency (OCC) and also as the First Deputy Comptroller. OCC is a bureau of the United States Department of the Treasury that regulates and oversees banks and savings associations in the country.

Coinbase acquired Tagomi as the foundation of its institutional trading arm.

Coinbase integrates Compound's COMP token on its platforms, allowing users to trade and store the token along with other cryptocurrencies. COMP token is utilized for governance in Compound's decentralized finance protocol, enabling holders to vote on protocol changes like interest rates for stablecoin deposits.

Coinbase faced legal action with two class-action lawsuits, one of which accused the platform of insider trading.

On June 14, 2022, Coinbase announced a significant layoff of 18% of its workforce and issued warnings about a potential 'crypto winter'. The move had implications for the company's future.