Coinbase ( http://www.coinbase.com) was founded in June of 2012 in San Francisco, California. Coinbase is a global digital asset exchange company (GDAX) which acts as a platform to buy and sell digital currencies. The primary use case for Coinbase is to allow individuals to quickly trade digital currencies without having to worry about the technology infrastructure that powers the digital currencies found on the platform. In addition to allowing for simplifying the process of buying and selling digital currencies, Coinbase also acts as a wallet where the digital currencies can be stored.
Coinbase’s popularity has soared as its technology has a user-friendly design which leads to a simplified buy/sell process. Users of the platform are not required to manage their own hardware or software cryptocurrency wallets which significantly reduced the barrier to entry for trading digital currency.
According to Coinbase, they have approximately 20 million customers and have facilitated over $150 billion worth of digital currency.
By the late 1800s, the term was typically applied to businessmen who used exploitative practices to amass their wealth. These practices included exerting control over natural resources, influencing high levels of government, paying subsistence wages, squashing competition by acquiring their competitors to create monopolies and raise prices, and schemes to sell stock at inflated prices to unsuspecting investors. The term combines the sense of criminal ("robber") and illegitimate aristocracy (a baron is an illegitimate role in a republic).
GDAX utilizes a maker-take fee model. Any orders that provide liquidity are charged a different amount than orders that take liquidity. Taker fees typically range from 0.10% to 0.30% based on the customers 30 day USD-equivalent trading volume.
Coinbase runs in Amazon Web Services (AWS). Sensitive workloads, such as key handling, run off of Dedicated Instances as opposed to Shared environments. Where Shared environments are utilized, Coinbase attempts to make it more difficult to target by cycling through instances within AWS quickly.
"In 2009, Wall Street bankers were on the defensive, worried they could be held criminally liable for fraud. With a new administration, bankers and their attorneys expected investigations and at least some prosecutions."
Indeed, the show recalls that both in Washington and the country generally, "there was broad support for prosecuting Wall Street." Nonetheless, "four years later, there have been no arrests of any senior Wall Street executives."