Tag: Coinbase

Why Coinbase CEO Brian Armstrong Will Lose: The Information’s Weekly Newsletter

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If you’ve been distracted by the week’s news (and who could blame you?), I’d like to turn your attention to a few great pieces this week from the team.

Amir got his hands on a trove of internal emails related to Uber’s slow progress at its autonomous vehicle unit. Kate followed venture capitalists heading from Silicon Valley to Austin, chronicling a trend I don’t think will soon reverse. And Ross, always ahead on the SPAC beat, shared his (very) honest assessment of the slew of new SPAC managers. (For bonus reading, he and Cory are batting .600 on their predictions of SPAC acquisition targets.)

Armstrong and the End of Corporate Culture

It was the blog post heard from Napa to Lake Tahoe and all the other places Silicon Valley CEOs are hiding out from the smoke and Covid-19 these days. This week, Coinbase CEO Brian Armstrong published a

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Coinbase now offers ‘instant’ withdrawals via Visa and Mastercard

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Crypto exchange Coinbase is now offering “instant” withdrawals in nearly 40 countries, including the U.S. and the U.K.

The new feature is being facilitated via Visa and Mastercard. Coinbase said its customers in the U.S., the U.K., and Europe would be able to withdraw funds with a linked Visa debit card. In the U.S., they will also be able to withdraw with their Mastercard.

“By enabling real-time card withdrawals through the Visa Direct capability, Coinbase is delivering a faster, simpler and more connected experience for its users — making it easier to convert crypto balances into fiat, which can be spent at the more than 60M [million] merchant locations where Visa is accepted,” said Terry Angelos, SVP and global head of fintech at Visa.

Sherri Haymond, executive vice president of digital partnerships at Mastercard, said Coinbase would leverage Mastercard Send, allowing its customers to withdraw and use their funds wherever

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Bitmain Denied, Coinbase Blocked and a Potential EOS Exit Scam

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Bitmain’s appeal to recoup $30 million in alleged lost revenues from Poolin has been denied, Digital Currency Group has acquired a retail-focused exchange and Venezuelan officials appear to have blocked access to Coinbase. 

Top shelf

Bitmain bust
A court in China has denied an appeal by bitcoin mining giant Bitmain seeking $30 million in damages from the three co-founders of Poolin, one of the world’s largest cryptocurrency mining pools, CoinDesk’s Wolfie Zhou reports. The mining giant Bitmain claims Poolin’s founding executive broke non-compete agreements in starting its BTC mining operations, leading to millions in lost revenue. While the Beijing No. 1 Intermediate People’s Court found Bitmain failed to provide sufficient evidence that its business losses equaled more than fines already imposed, it did agree to increase fines for Poolin’s co-founders. Bitmain originally sought $4.3 million in restitution when filing the suit in April 2019. Meanwhile, rival mining firm Canaan said

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