Coinbase is actively exploring opportunities within regions where regulatory frameworks for the cryptocurrency industry are well-defined. In the near future, its primary focus will be on the EU, U.K., Canada, Brazil, Singapore, and Australia.
Prior to its official launch on Wednesday as a novel layer-2 network built on Ethereum, Base had already accumulated an impressive sum of nearly $166 million on the blockchain.
The exchange's portion of ETH staking declined to 9.7%, reaching its lowest point since May 2021. In June, the company faced a lawsuit from the SEC due to the offering of unregistered securities.
Coinbase (COIN) has created too much uncertainty to prudently project revenues in future years, according to Piper Sandler.
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