Coinbase to be listed on Arbitrum (ARB)

Start depositing from March 23

Coinbase, a major centralized cryptocurrency exchange, has decided to newly list Ethereum (ETH) L2 “Arbitrum (ARB)”.

Offering a currency pair with ARB/USD, we plan to start trading on the 23rd of US time, depending on the liquidity situation.

Coinbase will add support for Arbitrum (ARB) on the Arbitrum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Inbound transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets (@CoinbaseAssets) March 22, 2023

Arbitrum announced plans to airdrop ARB tokens last Friday. ARB is Arbitrum’s governance token and will be operated by a DAO (Decentralized Autonomous Organization).

Binance and OKX also announced the handling of ARB.

connection: Binance to be listed on Arbitrum (ARB)

connection: What is “Rollup”, a solution to the scaling problem | Detailed explanation of the mechanism and points to note

ALGO staking canceled

Coinbase announced that it will stop granting Algorand (ALGO) staking rewards for individual investors from March 29.

Coinbase did not provide a reason for the cancellation, but the CEO of the Algorand Foundation blamed it on regulatory concerns.

Hi #algofamwoke up this am, like many of you, to find that @coinbase They’ve now informed us that they are evaluating their services in light of recent regulatory scrutiny, and, for that reason, they will no longer support Algo rewards for Retail customers.

— staci.algo (@StaciW_DC) March 22, 2023

Also, it seems that the main reason is that rival company Kraken suspended its staking service in the United States in February after being sued by the SEC. The company said it was under investigation by the SEC, alleging that the service violated securities laws.

connection: How to view the Kraken indictment of the US SEC, and consider the impact on Ethereum staking

It was recently reported that Coinbase was looking for an overseas presence to avoid the opaque regulatory environment in the US.

connection: Coinbase to establish virtual currency trading bases outside the US = reports

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