Analysis Crypto by Thebittimes.Com

Coinbase is officially listing a new memecoin that uses the name and likeness of the top US crypto exchange’s CEO’s pet dog. According to a new announcement, Coinbase is officially supporting Toshi (TOSHI) starting today. “Coinbase will add support for Toshi (TOSHI) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on Coinbase and Coinbase Exchange in the regions where trading is supported.” Coinbase is adding support for TOSHI on Base, an Ethereum (ETH) layer-2 network incubated by the exchange. The announcement was made yesterday around 4 p.m. EST. Immediately following the announcement, TOSHI leaped from $0.00036803 to $0.00048477, an over 27% gain. However, the dog-themed memecoin has since crashed to lower levels than before the announcement, trading for $0.0003579 at time of writing, down 5.6% overall in the last 24 hours. TOSHI is just one of a multitu...

A memecoin named after Coinbase co-founder Brian Armstrong’s cat is surging after the top US crypto exchange added the digital asset to its listing roadmap. Toshi (TOSHI), a memecoin built on the Ethereum (ETH) layer-2 scaling solution Base, soared by triple percentage points as Coinbase made the announcement. A day before the listing, TOSHI hit a low of $0.00001161 and then surged to a high of $0.0003679 after the news, a 216% gain. The memecoin has since retraced. TOSHI is trading for $0.0002953 at time of writing. With a market cap of $126.5 million, TOSHI is the 507th largest crypto project. Coinbase uses the listing roadmap for transparency and to prevent insider trading on coins prior to them being listed. Being placed on the listing roadmap means the firm has determined the asset will likely be available for trading in the future. The Toshi project says the memecoin was named after Armstrong’s cat as well as the pseudonymous creator of Bitcoin...

Brian Armstrong and CZ have seen respective net worth losses of 11.8% and 5.1% since the SEC sued Coinbase and Binance. The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator. Armstrong’s net worth was slashed by $289 million and Zhao’s by $1.33 billion within a span of 30 hours after the Securities Exchange Commission (SEC) sued Binance on June 5 and then Coinbase on June 6, according to data from the Bloomberg Billionaires Index and Forbes. Zhao — the richest man in the crypto industry and the 54th richest person overall — had his net worth fall 5.1% to $26 billion this week. The SEC’s lawsuit against Binance has contributed to Zhao falling two spots in Bloomberg's Billionaire Index. Source: Bloomberg While the Binance CEO’s net worth has rebounded by over 106% this year, he is still down over 73% from his highest net worth of $96.9 billion in January 2022. ...