Coinbase - Announcement of 2.23.23

Coinbase exchange has tweeted a short video clip and wrote the date of tomorrow to create a hype on it. To be honest, the company was able to attract attention with this move. Now you can go to Crypto Twitter and read lots of theories by people.

The tweet by Coinbase has nothing but a black background and a blue circle in the middle. If it were an announcement of a crypto listing, Coinbase would not try to hype people that much. Obviously, it is something that will have an impact on crypto.

Let's talk about the theories hanging around

1- Euro-Backed Stablecoin

Obviously, SEC is trying to save us from something that we do not know. What we know is that it is not LUNA, 3AC, FTX or scams that we lost thousands of dollars. SEC saves us in a different way that is beyond our capacity 🙃

Jokes aside, the pressure on USD-backed stablecoins started to bother everyone. Turning the focus on stablecoins into Euro rather than USD may make it easier for centralized exchanges.

It is possible ✅, but not crazy stuff ❌

2 - Something about Optimism and Arbitrum

It is possible to see Coinbase utilizing the hype on Arbitrum and Optimism.

In terms of TVL of Layer 2 of Ethereum, Arbitrum surpassed Polygon!

IMHO, the layer 2 on Ethereum always have a narrative to sell themselves. As Arbitrum also has a blue logo, crypto people expect something related to Arbitrum, too.

hot stuff ✅, but not that important ❌

3 - Coinbase token - Coinbase Layer ...

The most likely thing that I expect is a tokenized asset by Coinbase. We may see a stable coinbase token that will be pegged to the share or we may see a Coinbase chain that holds its own pegged cryptocurrencies.

There might be a stop for transparency via Coinbase chain or Coinbase something. If it happens, Coinbase as a centralized exchange may diverge itself better than the rivals.

Obviously, the share of Coinbase has lost a lot of value.

The drop in price may also be seen as the decreasing reputation of the service provider for many people. If the company tries to connect the stock share and blockchain via tokenization, that would be a nice move.

These three theories attracted my attention.

What do you expect from the announcement of the announcement by Coinbase?

Share with us ✌🏼

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