By Alex Ghise, Staff Software Engineer
If you’re interested in distributed systems and building reliable shared services to power all of Coinbase, the Platform team is hiring!
In 2019, Coinbase set out to strengthen the infrastructure upon which its products are built and to create a solid foundation to support current and future product lines. As part of that effort, we decided to adopt AWS RDS PostgreSQL as our database of choice for relational workloads and AWS DynamoDB as our key-value store.
One of the first areas we decided to focus on was how to keep track of balances and move funds. Our products had each devised their own solutions and some legacy systems were also plagued by tech debt and performance issues. The ability to quickly and accurately process transactions is central to Coinbase’s mission to build an open financial system for the world. …
At Coinbase we’re using machine learning for a variety of use-cases, from preventing fraud and keeping our users safe, to curating and personalizing content or detecting whether identities are matching or not.
One of the critical differences between machine learning projects and other types of software engineering is that it’s hard to forecast the impact of a machine learning model before actually trying a prototype out. That’s why getting to an initial prototype and having a fast iteration cycle is critical for machine learning projects.
With this in mind, we set out to build a suite of machine learning models which balance the tradeoff between quick iteration cycles and incorporating new state-of-the-art practices. In this blogpost, we’ll detail the ML systems we built to enable anyone in the company to quickly build high performing ML models: EasyML, Seq2Win and EasyBlend. …
Starting today, Coinbase supports NuCypher (NU) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store NU. NU is available in all Coinbase-supported regions.
NuCypher (NU) is an Ethereum token that can be staked to run a node on the NuCypher network. NuCypher describes itself as a threshold cryptography network that provides data privacy and key management for decentralized applications and protocols.
One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see NU here), as well as a new section of the Coinbase website to answer common questions about crypto. …
On Tuesday, December 8, Coinbase Pro will add support for new order books for Algorand (ALGO), Chainlink (LINK), Loopring (LRC), Uniswap (UNI), Yearn.Finance (YFI), and Zcash (ZEC). The new pairs will be: ALGO-BTC, LINK-BTC, LRC-BTC, UNI-BTC, YFI-BTC, and ZEC-USD.
On Tuesday, December 8, trading on our ALGO-BTC, LINK-BTC, LRC-BTC, UNI-BTC, YFI-BTC, and ZEC-USD order books will launch in phases, post-only, limit-only and full trading. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book(s) in one state for a longer period of time or suspend trading as per our Trading Rules.
We will publish tweets from our Coinbase Pro Twitter account as each order book moves through the phases.
Coinbase was selected as the primary execution partner by MicroStrategy
To read a case study on the MicroStrategy trades click here.
By Brett Tejpaul, Head of Institutional Sales, Trading, Custody and Prime Services
We’re excited to announce that Coinbase was selected as the primary execution partner for MicroStrategy’s $425 million purchase of Bitcoin earlier this year. Using our advanced execution capabilities, leading crypto prime brokerage platform, and OTC desk, we were able to buy a significant amount of bitcoin on behalf of MicroStrategy and did so without moving the market. …
At Coinbase, we are on a mission to create an open financial system for the world. Over time, Coinbase has improved our exchange experience by offering clients access to a growing number of efficient cryptocurrency markets. A key reason we’re able to do so is the strong community of clients who act as “makers” of liquidity on our exchange. By instituting a Market Maker Program, we will begin rewarding participants for diversifying their activity across a wide set of trading pairs. …
By Surojit Chatterjee
On December 1, the Ethereum Beacon Chain will launch, beginning a multi-year upgrade to Ethereum 2.0 (ETH2).
Coinbase intends to support ETH2 through staking and trading. Coinbase customers will be able to convert ETH in their Coinbase accounts to ETH2 and earn staking rewards.
While staked ETH2 tokens remain locked on the beacon chain, Coinbase will also enable trading between ETH2, ETH, and all other supported currencies providing liquidity for our customers.
We’ll be launching the above features to customers in eligible jurisdictions starting in early 2021. …
Starting Today Monday November 30, transfer NU into your Coinbase Pro account ahead of trading. Support for NU will be available in all Coinbase’s supported jurisdictions. Trading will begin on or after 9AM Pacific Time (PT) Wednesday, December 2, if liquidity conditions are met.
One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for Wrapped Bitcoin (WBTC), Balancer (BAL), Ren (REN), Uniswap (UNI), yearn.finance (YFI), Loopring (LRC), UMA (UMA) Celo (CGLD), Numeraire (NMR), Band (BAND), Compound (COMP), Maker (MKR) and OmiseGo (OMG), along with supporting additional European and UK order books. …
In the spirit of transparency, we’re sharing an internal email that was sent to our employees earlier today:
Tl;dr: The New York Times is planning to publish a negative story about Coinbase at some point in the next few days online, and it will appear in print on Sunday. Given that this story may be read by your friends, family and professional contacts, we wanted to give everyone a heads-up and provide some important context.
I wanted to give you a heads-up that The New York Times is planning to publish a negative story about Coinbase in the next few days. …
By Paul Grewal, Chief Legal Officer
In response to new guidance from the Commodity Futures Trading Commission, we are disabling our margin trading product.
Customers currently using margin trading will not be able to place new margin trades starting 2pm PT on November 25. For customers using credit, all open limit orders will be cancelled at this time. The product will be taken offline in December once all existing margin positions have expired.
We believe clear, common sense regulations for margin lending products are needed to protect and provide peace of mind to U.S customers. We look forward to working closely with regulators to achieve this goal.
For a full list of frequently asked questions click here