Coinbase’s Wallet Revamp: What’s Cooking in the Crypto Kitchen? 🍳💰

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What to know:

  • Word on the digital street is that Coinbase Wallet is slipping into something more comfortable—a new name, possibly ‘The Base App’ as it sets out to flaunt its decentralized charms.
  • Ethereum‘s proposed ZK upgrade is drawing cheers from ARK Invest’s Cathie Wood, who says it’s like adding a turbocharger to a bicycle, all in the name of scalable privacy.
  • Bitcoin and Ethereum are flexing their muscles with some hefty price hikes, thanks to pricey institutional buyers and trading that could make a high-stakes gambler blush.

Good Morning, Asia. Let’s dive into the swirling chaos of the markets:

Rest in peace, Coinbase Wallet. Or should I say, rest in a more fashionable name? 🕊️

Nah, no need to shed a tear over the app itself, just a sprucing up with a new label.

On its X profile, it now sports a name scratched out, a mysterious ‘TBA,’ plus a hint of confusion with a few question marks. Talk about drama! 🤔

“Everyone’s gossiping about what it all means, but I’m banking on ‘The Base App’. It sounds cheeky and aligns with Base planning to roll out sweet features directly inside its wallet,” mused Bradley Park, a Seoul-based analyst with DNTV Research, in a chinwag with CoinDesk.

Now, let’s not forget, Base Creator Jesse Pollak snagged the Wallet team in October last year. Why, it’s almost too perfect a fit, wouldn’t you say?

In a candid moment during Devcon in Bangkok last year, Pollak was all about decentralization. Perhaps this makeover is Coinbase’s way of bolting it to the ground to show off its freedom from the mother ship.

This revival isn’t a first for Coinbase; once upon a time, it was known as ‘Toshi’. You know, they swapped that name out like an old pair of shoes for ‘Coinbase Wallet’ back in 2018. Talk about a brand makeover! 👠

Ethereum’s ZK Upgrade: Institutional High-Fives from Cathie Wood

ARK Invest’s own queen bee, Cathie Wood, says Ethereum’s shaking things up with “the right moves for scalability and privacy”. She’s all for it as the Ethereum Foundation unveils plans to bring zero-knowledge proofs (ZKPs) into the limelight.

She might not have her head wrapped around every detail, but her shiny endorsement is like a big hug for Ethereum’s long-term antics.

The grand plan? Let validators kick back while cryptographic proofs of block legitimacy do all the heavy lifting. No need to re-execute transactions, thank you very much! This could zap away computational strain faster than a cat can knock over a glass of milk. 🐱

The proofs would be ready quicker than you can brew a cup of coffee, produced by block builders or flashy third-party zk-prover networks, all verified in under 10 seconds and with a price tag that won’t break the bank—think under $100,000 and a gentle sip of power at 10 kilowatts.

It’s a bold strategy that promises a lot while tinged with risks—if the provers decide to take a nap or pool their cookies, things could get hairy. The Ethereum Foundation intends to sprinkle some magic dust to ward off these fears through diversity, hardening the protocol, and letting folks at home pitch in for proving.

If they pull this off, Ethereum might just become the first blockchain to tango ZKPs right into its core, dancing ahead in both decentralized apps and those keen institutional eyes.

Market Movements:

BTC: Bitcoin strutted a 1% gain, nudging close to $119K, casual as ever amid triple-normal trading buzz, while BlackRock’s IBIT is lounging on a comfy $80 billion crypto asset pile. Major institutional vibes, but watch out for the profit-takers lurking in the shadows! 💸

ETH: Ethereum is on a joyful ride, soaring past $3,000 for the first time since February, tagging a 3% hike amid rockstar inflows that scream bullish juju.

Gold: The glittering metal jealously climbed to $3,371 as central banks keep piling up the gold like kids hoarding candy. All eyes are set on $3,578 next. Chomp, chomp! 🪙

Nikkei 225: Meanwhile, Asia-Pacific’s markets opened with a frown as investors reacted to President Trump’s spicy weekend announcement about hefty tariffs on the EU and Mexico starting August 1—look out, Japan’s Nikkei 225 dipped 0.33%. 🍂

Elsewhere in Crypto:

  • Chart of the Week: ‘Hyperbitcoinization’ May Not Be Just Maximalist Fantasy Anymore (CoinDesk)
  • State of Crypto: Previewing Congress’ ‘Crypto Week’ (CoinDesk)
  • Coinbase enlists the mysterious AlexOnchain as their first ‘Crypto Twitter lead’ in quest for social media glory (The Block)

Read More

2025-07-14 05:06