Coinbase

Ethereum

2026-10-04 04:01:42

ETH Trades Near $2,694 as Binance Perpetual Sell Depth Stands Out

Ethereum was quoted at about $2,694.05, according to order book monitoring platform Liquid24/7.xyz. The data showed Binance perpetuals carrying the heaviest nearby sell-side depth among the venues listed, with roughly $93.3586 million in sell orders versus about $59.6945 million in buy orders, leaving sell liquidity ahead by around $33.6641 million. On Binance spot, sell orders were also larger than bids by about $1.8001 million. Elsewhere, the picture was more balanced or tilted the other way. Coinbase spot showed about $9.677 million in buy orders against roughly $9.0918 million in sell orders, a buy-side lead of around $585,100. OKX perpetuals posted about $23.2709 million in buy orders and $20.2652 million in sell orders, while Hyperliquid perpetuals showed about $13.2093 million in buy orders and $10.839 million in sell orders. Liquid24/7.xyz said Binance perpetual sell depth was clearly thicker than at other venues. The platform added that if a large market order hits, slippage could be larger on the thinner side of the market at other exchanges.

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Hyperliquid

2026-10-04 03:43:01

Hyperliquid books first $14.58 million in USDC reserve revenue under AQAv2

Hyperliquid has recorded its first payment tied to USDC reserves under its AQAv2 mechanism, according to a post by Hyperdash co-founder Hans. On Oct. 3, the AQAv2 treasury wallet received $14.58 million for the platform’s USDC reserves held over the previous 30 days, with the proceeds set to flow into the assistance fund for HYPE purchases. Hans said the structure creates a new revenue stream beyond trading fees, allowing the platform to earn from margin deposits themselves whether or not the funds are actively used in trading. Under the setup, users bridge USDC to Hyperliquid, Circle mints the corresponding asset on HyperEVM, and the treasury balance is charged daily and settled every 30 days. Coinbase and Circle have each staked 500,000 HYPE, while a missed payment could cost Coinbase 2% of its staked amount per day. The first payment covered Aug. 26 to Sept. 24, implying an average rate of about 3.14% and annualized revenue of roughly $193 million at the current scale. Hans also said Hyperliquid’s open interest rose from $7.72 billion to $16.4 billion between Jan. 1 and Sept. 30, while platform margin increased from $4.34 billion to $7.22 billion.

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Coinbase

2026-10-03 22:53:07

Coinbase to hold $150,000 live trading competition on Advanced next week

Coinbase Chief Executive Officer Brian Armstrong said in a post on X that the company will host a live trading competition next week with a total prize pool of $150,000. The event is set to take place on Coinbase Advanced, the company’s professional trading platform. Armstrong said multiple well-known traders will take part in the contest. The announcement was attributed to Armstrong’s post on X, as cited by Techub News. No additional details on the competition format, eligibility, or schedule were disclosed in the source provided.

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Stablecoins

2026-10-03 08:36:07

IOSG says stablecoin profits are shifting from issuance to distribution

IOSG researcher Darko argues that the most important question in stablecoins is no longer who issues them, but who controls distribution. In a long-form analysis reposted by WuBlockchain, the paper says stablecoin economics are built on reserve income, yet the right to keep that income is increasingly determined by wallets, exchanges, brokerages, payment networks and other user-facing channels. The article links that shift to the regulatory and market backdrop now forming in the U.S. It cites the GENIUS Act, effective July 18, 2025, as the first federal framework for payment stablecoins, then points to OCC actions involving Circle, Ripple and Paxos, as well as the launch of Open USD in June 2026 with more than 140 participants including Visa and Mastercard. Stablecoins, the piece says, did not suddenly improve at the technical level; large institutions finally understood what they can do. The report also argues that headline transaction volumes overstate real-world usage, that reserve-based issuer profits are highly sensitive to falling rates, and that the strongest signal in the market may be Circle’s unchanged renewal terms with Coinbase through 2029. Its conclusion is straightforward: issuance may become standardized, but distribution, customer ownership and access points are where pricing power is likely to remain.

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Coinbase

2026-10-03 14:55:28

Coinbase says it is working with advisers to six systemically important banks on Bitcoin exposure

Coinbase is working with advisers to six global systemically important banks to increase exposure to Bitcoin, according to a report cited by Bitcoin Magazine. The comment came from Coinbase’s chief business officer, who said the company sees the effort as a way to expand the market and give individuals more ways to access Bitcoin. The report did not name the banks involved. The item also noted that global systemically important banks are designated by the Financial Stability Board. Those institutions are large banks considered important to the global financial system. The statement points to Coinbase’s outreach around Bitcoin-related access, while the available source material provides no additional detail on the structure, timeline, or scope of the work with the advisers.

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Coinbase

2026-10-03 11:53:47

Coinbase secures ADGM financial services license for tokenized securities custody and trade arrangements

Coinbase has received a Financial Services Permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market, allowing the crypto platform to arrange investment deals and provide custody for tokenized securities. The company said the license forms the regulatory base for its international tokenization hub and marks the first of its two main non-U.S. institutional businesses in the United Arab Emirates, with the other being its derivatives operation in Dubai. Under the scope of the permission, Coinbase can arrange and custody tokenized equities that are fully backed by underlying shares. The company said holders of the digital securities can access economic exposure such as dividends, while voting and redemption rights depend on the vesting conditions set out in each prospectus. Coinbase also said investors would only need a crypto wallet to trade, though redeeming proceeds into fiat would still require a bank or brokerage account. The framework includes sanctions screening and wallet-level freezing or seizure measures.

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Aave

2026-10-03 09:50:17

Aave deposits hit $1 billion as AAVE gains 20% over the week

Techub, citing BeInCrypto, reported that Aave’s AAVE token rose 20% over the past week even as the total crypto market capitalization slipped 0.30%. The report said the move was mainly driven by Aave protocol user deposits reaching the $1 billion mark. It also noted that Aave V4 went live in September on Arc and Base. On Base, its Stock Center allows eligible non-U.S. users to borrow USDC against seven tokenized Coinbase equities used as collateral. The update links Aave’s token performance to protocol growth and adds detail on the product rollout across the two networks.

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Coinbase

2026-10-03 08:46:03

Coinbase wins CFTC approval as derivatives clearing organization

Coinbase has been approved by the U.S. Commodity Futures Trading Commission to operate as a derivatives clearing organization for fully collateralized futures, options on futures, and swaps. The approval allows the company to clear those products on its own rather than relying on a third party. The CFTC said the decision does not endorse any specific market and does not cover prediction markets in particular. The move could also support the rollout of Coinbase’s planned futures partnership with Nodal Clear, announced in June 2025, which was designed around USDC as collateral. The regulator did not disclose the range of underlying assets tied to the derivatives or specify which categories of swaps would be eligible for clearing.

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