Crypto Publish 🪙 Shilling

Coinbase's Base could make it the NVIDIA of DeFi Coinbase’s first-quarter earnings report — released May 2 — indicated the company has been thriving thanks to a vibrant market for Bitcoin and Ethereum over the last several months. However, the numbers indicated Base platform has shown even greater potential — and could make Coinbase the NVIDIA of decentralized finance (DeFi). Launched in August 2023, Base is a secure, low-cost Ethereum layer-2 solution built to scale Coinbase’s user base on-chain to make transactions faster.

Block Is Buying Bitcoin Every Month for Its Balance Sheet Block Inc. has announced its strategy of regularly purchasing bitcoin for its corporate balance sheet via dollar-cost averaging (DCA). The company plans to allocate 10% of its monthly gross profit from bitcoin products towards investments in the cryptocurrency. “We view bitcoin as an instrument of global economic empowerment; it is a way for individuals around the world to participate in a global monetary system and secure their own financial future,” the company stated.

DeFi DAO introduces permissionless listings with AI enhancement Ooki, a decentralized finance DAO, innovates by combining artificial intelligence and permissionless listings. The decentralized finance (DeFi) space is crowded with thousands of tokens with varying use cases, while coins with new utilities emerge occasionally. While enriching the DeFi ecosystem with diverse investment options, this proliferation of tokens also introduces a significant challenge for users.

SEC asks for comments on BlackRock's amended spot Ethereum ETF proposal The U.S. Securities and Exchange Commission is asking for public comments on changes made to BlackRock's proposed spot Ethereum exchange-traded fund. The world's largest asset manager is vying along with others for a spot Ethereum ETF, though optimism that one could get the SEC's greenlight in the next month has diminished. BlackRock filed for its spot Ethereum ETF in November 2023.

IRS Previews Potential Form 1099-DA for Reporting Brokered Sales of Digital Assets The U.S. Internal Revenue Service has previewed a draft tax form, 1099-DA, for crypto investors to report taxable gains or losses from brokered digital asset transactions. The form includes individual token codes, spaces for wallet addresses, and instructions on finding transactions on the blockchain. Cryptocurrency businesses are concerned about how the IRS will identify brokers required to comply with the new system. The final rule is expected to be completed this year.