Britton W

cannoli connoisseur

[Frank Chaparro @fintechfrank]

They're putting private credit on the blockchain

[Brian Armstrong @brian_armstrong]

The easier we can make it to buy and hold crypto, the faster adoption happens.

Excited to be working with @PNCBank, one of the largest banks in the US, to give their clients easy access to buying and holding crypto and using USDC, powered by Coinbase.

[Faryar Shirzad 🛡️ @faryarshirzad]

After months of negotiations and too many votes to count, the GENIUS Act has passed the Senate 68-30! This is a massive step towards making the US the world leader in digital assets and blockchain innovation. Huge congratulations to @SenatorHagerty @SenLummis @SenatorTimScott @davidsacks47 @BoHines and many others. There’s more work to be done, including advancing critical market structure legislation, but the significance of this huge bipartisan vote cannot be overstated. 🇺🇸

[Brian Armstrong @brian_armstrong]

Across federal, state, and local, Coinbase now works with 145 government entities in the U.S. and 29 government entities outside the U.S.

In the wake of the U.S. Strategic Bitcoin Reserve launching, we're seeing many more take an interest.

We'd like to help everyone custody, trade, and use crypto, and that includes governments around the world. Let's bring everyone onchain!

If you work for a government institution, send us an email here to learn more, or get started: government at coinbase dot com

(Additional links in 🧵)

[Conor @jconorgrogan]

There is one guy responsible for ~18k tokens created on PumpFun

It appears they wake up and create on average ~a dozen of tokens an hour until they go to bed, and then do it again, every day. They've done this for months

[Don Draper @arsenalbarclays]

Michael Oliver in all his splendor. share to expose the fraud #MichaelOliverIsACheat (Credit to @imxxxd7)

[PB @football_pb]

🚨 Michael Oliver has awarded significantly more reds and yellows vs Arsenal than any other team.

Also significantly more penalties against than most teams.

This data plus a series of clear wrong decisions should have led him to be off Arsenal games some time ago.

[LE GROVE @LeGrove]

For football to be adjudicated fairly, there must be consistent implementation of the rules and a standardized approach to the norms of the game.

It is clear that PGMOL refs/VARs have intentionally taken extreme interpretations of both concepts to shape games to their preference. It’s no longer a suspicion that Arsenal are officiated differently; it is now an objective fact that has undermined our title challenge and soiled what could have been a historic campaign between two great clubs.

They rigidly applied the letter of the law when sending off Declan Rice ("I have no choice") to harm Arsenal. They did it to Arsenal twice, then quietly agreed they wouldn't do it after blowback.

Conversely, they took a lenient view of Kovacic's challenge against City to preserve the integrity of a "big game."

This arbitrary extremism corrupts the game. It allows referees to take center stage, influencing outcomes with zero consequence or even scrutiny in the media. How many times does this decision making land on tone being the issue and 'mistakes happen.'

The Premier League needs to demonstrate leadership. It is beginning to look like they view this as a feature of the game rather than a disgusting bug that must be eradicated before it infects fans' love for football.

Michael Oliver should not be a Premier League referee after today, but he will be, and he'll be put back on Arsenal games despite his horrible record of terrible red cards (8 reds), and his freelance actions raising deeply disturbing questions over his judgement and integrity when it comes to how he refs other teams (City 0 red cards).

[Brian Armstrong @brian_armstrong]

Proud of this outcome. The courts ruled in our favor that @USTreasury cannot sanction open source code.

@coinbase will keep holding government accountable to protect your freedoms.

[Bill Hughes @BillHughesDC]

BIG NEWS: Federal appeals court says Treasury overstepped its authority when sanctioning immutable smart contracts deployed by the @TornadoCash devs because they are NOT property of a foreign person or entity.

"The immutable smart contracts at issue in this appeal are not property because they are not capable of being owned. More than one thousand volunteers participated in a “trusted setup ceremony” to “irrevocably remov[e] the option for anyone to update, remove, or otherwise control those lines of code.” And as a result, no one can “exclude” anyone from using the Tornado Cash pool smart contracts. In fact, because these immutable smart contracts are unchangeable and unremovable, they remain available for anyone to use and “the targeted North Korean wrongdoers are not actually blocked from retrieving their assets,” even under the sanctions regime. Simply put, regardless of OFAC’s designation of Tornado Cash, the immutable smart contracts continue operating. And furthermore, because the software continues to operate regardless of the sanctions, and the blockchain technology “allows peer-to-peer transfers . . . without requiring the recipient to consent to transfer,” some users may become liable whenever someone transfers them digital assets via Tornado Cash, even without their knowledge or consent."

Further, OFAC's longstanding practice of including "contracts" and "services" as property doesn't apply here, because these smart contracts aren't contracts or services. On the services point, "No human effort is expended by the immutable smart contracts.
And even by the Department’s definition, the immutable smart contracts, which are nothing more than lines of code, are less like a “service” and more like a tool that is used in performing a service. That is not the same as being a service.”

Moreover, they aren't ownable, so even under OFAC's own regulations they aren't property that can be sanctioned.

In sum, they cannot be blocked under federal law. They certainly can't be blocked as an exercise of OFAC's discretion.

This does NOT mean that the rest of Tornado Cash is out of bounds for Treasury/OFAC too. The issue was about smart contracts with no admin key.

A good win. One which the Supreme Court would be unlikely to reverse. Another case where Loper Bright helped because the court wasn't required to defer to a permissible reading by the agency.

Kudos to @coinbase (@iampaulgrewal) for being a big driver of this.

[Matt Hougan @Matt_Hougan]

Each year, we survey hundreds of financial advisors and ask them what's preventing them from investing in crypto? And each year, they tell us "Regulatory Concerns" is the #1 reason. (See the table below from our January 2024 survey).

This is one reason the election was a game-changer for crypto. We're going to see a wave of institutional capital in the coming months.

[Tay 💖 @tayvano_]

🚨WARNING 🚨

If you go to get on a video call...
and you see this screen...
YOU ARE ABOUT TO GET REKT!

1. STOP what you are doing!
2. Close the window.
3. Do not say ANYTHING to the person youre supposed to have the call with.
4. Message https://t.co/KpaDMTqJ5L for help!

[Viktor Bunin 🛡️🇺🇸 @ViktorBunin]

It's the one year anniversary since we decided to support Lightning, and 4.5 months since it went live

Time for an update!

Lightning is now responsible for 6.8% of all BTC sends on @Coinbase. For reference, Eth L2s took about a year to reach this level (back in 2023). Onward⚡

[Brian Foster @brian__foster]

We’re excited to share @coinbase’s latest partner: the U.S. DOJ.

DOJ’s USMS, which is responsible for asset forfeiture, has selected Coinbase Prime to provide custody and advanced trading services for the agency’s “Class 1” (large cap) digital assets, which it manages centrally in support of federal law enforcement.

Coinbase is proud of its history of supporting law enforcement agencies, dating back to the founding of our law enforcement program in 2014. Today, we work with every major U.S. federal, state, and local law enforcement agency, as well as international agencies on every continent. Growing the cryptoeconomy means promoting safe and efficient markets, and these partnerships are critical to our mission.

More from the Coinbase blog: https://t.co/IPiehnd3w0

And via https://t.co/cLo9vE57VK: https://t.co/s9AYs7HhfX

[Brian Armstrong @brian_armstrong]

Well said

What a week!

[Chris Burniske @cburniske]

Why does that cursed coin with no value keep going up while I was told every insider was dumping it to $0?

[Will @WClemente]

Coinbase app is down

We are SO back

[Altcoin Daily @AltcoinDaily]

OG Coinbase exchange users today 😅

[Chris Burniske @cburniske]

Early crypto founders were amazing for their vision and grit, but with each year that passes, I'm impressed by how the quality of founders keeps leveling up. There's not just more in quantity, there's more in excellence. There's not just one or two excellent ecosystems, there are numerous, at the L1 & L2 layers.