China News by Thebittimes.Com

Coinbase Ventures, the investing arm of Coinbase, has announced that it will be focusing more on decentralized finance (DeFi) and gradually moving away from centralized finance. The company recently announced a 34% drop in its deals in the second quarter of the year. The firm noted that the performance is a reflection of the general bearish market and not specifically on Coinbase Ventures. But the bearish market did not affect the company’s investments in infrastructural projects. These projects show the actual utility and the booming Web3 gaming sector. Coinbase Ventures Registers 34% Drop In Its Deal Activity Coinbase Ventures noted that its deal activity declined by 34% in Q2 2022 compared to the volume in Q2 2021. It fell from 71 to 47 quarter-over-quarter (QoQ) but remained strong at 68% year-over-year (YoY), according to the investment menu for Q2. The firm stated that the decline in the broader venture market started in the first quarter of the year, as it saw t...

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has given Coinbase “in -principle approval ” allowing the crypto exchange to “offer regulated digital payment token products and services in the island state.” Coinbase stressed: “Today’s announcement underlines our commitment to Singapore as a regional hub.” Coinbase Committed to Making Singapore Its Regional Hub The Nasdaq-listed crypto exchange Coinbase announced Monday that it has received “In-Principle Approval (IPA) as a major payments institution license holder from the Monetary Authority of Singapore (MAS).” The announcement details: This license will allow us to offer regulated digital payment token products and services in the island state. “Today’s announcement underlines our commitment to Singapore as a regional hub,” Coinbase stressed. “Singapore serves as the hub for Coinbase’s APAC institutional ...