In a blog post, Coinbase announced it will offer DEX trading to selected users across the US, excluding New York. At launch, users can trade Base native tokens, including popular projects such as Virtuals AI Agents, Reserve Protocol DTFs, SoSo Value Indices, Auki Labs, and Super Champs. 

The company plans to increase the number of supported tokens in the coming weeks. Base operates as Ethereum’s Layer 2 network, providing an important ecosystem. This expansion means diversified token support for Coinbase. CEO Brian Armstrong stated on X that their goal is to make the DEX the easiest gateway to on-chain markets. He also confirmed that Solana tokens will soon be integrated into the platform. 

We're starting the rollout of DEX trading in the U.S. (excluding NY). Our goal is to make Coinbase the simplest way to access onchain markets.

You'll be able to trade millions of @base assets in the Coinbase app.

Support for @solana is coming soon too. pic.twitter.com/YWkCxJEN9d

— Brian Armstrong (@brian_armstrong) August 8, 2025

Coinbase’s Strategic Move Aims to Boost Trading Volume 

Coinbase’s DEX announcement coincided with the release of its Q2 financial results. The report showed that trading volume fell short of analysts’ expectations. Retail trading volume grew 16% year-over-year, surpassing $43 billion. However, analysts had projected around $48 billion. The increasing number of token launches on the Base network makes this move strategically significant for Coinbase. 

Base hosts the well-known token launch platform Zora. Meanwhile, Solana leads daily token launches, outperforming Base with its Pump.fun launchpad. Therefore, adding Solana support will likely increase trading volume. Coinbase’s trading volume dropped from $2 billion in Q1 to $1.42 billion in Q2, a decline of 27.5%. 

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Garantex Shutdown, but Fund Movements Continue

After the US Treasury Department’s OFAC sanctioned Garantex in April 2022, and froze $27 million in USDT on March 6, 2025, the exchange halted all operations. Despite these actions, Global Ledger reports that Garantex shifted its remaining funds to Grinex.

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By March 13, 2025, over $60 million worth of ruble-backed A7A5 stablecoins had been laundered through wallet transactions and moved to Grinex. Analysts note that these transactions aimed to clean the asset trail and relaunch operations under a new identity.

Is Grinex Just a New Face of Garantex?

Global Ledger‘s findings indicate that Grinex is directly connected to Garantex, both on-chain and off-chain. Transaction patterns, wallet reuse, and user behaviors strongly link the two exchanges.

Furthermore, CoinMarketRating lists Grinex as a project by Garantex‘s original team, reinforcing claims that it is not an independent platform but a direct continuation of Garantex’s operations.

Transaction Volume Surpasses $68 Million

By mid-March, Grinex had surpassed $68 million in total trading volume, including over $2 million in spot market trades. This activity suggests that Garantex’s previous users have migrated to Grinex, continuing to trade despite sanctions.

On March 12, 2025, Aleksej Bešciokov, allegedly responsible for managing Garantex, was arrested in India by the Central Bureau of Investigation. He faces US charges, including conspiracy to commit money laundering.

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Bank of America and Webull Decisions Increased Selling Pressure

In a regulatory filing dated March 17, Bakkt disclosed that two key clients would not renew their commercial agreements. Bank of America will terminate its existing agreement on April 22, while the brokerage platform Webull will end its contract on June 14.

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According to the filing, Bank of America accounted for 17% of Bakkt’s loyalty services revenue for the nine months ending September 30, 2024. Webull contributed 74% of the company’s crypto services revenue during the same period.

Shares Crash to New Lows!

Following this development, Bakkt (BKKT) shares dropped 27.28% on March 18, closing at $9.33. In after-hours trading, the shares fell an additional 2.25%, reaching $9.12.

Bakkt’s stock price has plummeted more than 96% from its all-time high of $1,063, recorded in October 2021.

Bakkt has postponed its previously announced earnings conference call twice. The latest rescheduling sets the call for March 19. These delays have added further uncertainty for investors.

Class Action Lawsuit on the Horizon!

The Law Offices of Howard G. Smith announced a potential class action lawsuit against Bakkt following the termination of agreements with Bank of America and Webull. The statement claims that the canceled agreements and the delayed earnings call led to a sharp decline in Bakkt’s stock price, “thereby injuring investors.”

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The post Bakkt Shares Experienced a Huge Drop! appeared first on Coin Engineer.

• CVC/USDC
• EURI/USDC
• SYN/USDC
• USDC/RON
• VELODROME/USDC

In addition to these trading pairs, Binance will also enable Trading Bots (Spot Algo Orders) services for the same pairs at the same date and time. The Trading Bots service allows users to automate their trades and respond more efficiently to market movements.

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Discounted Taker Fees on USDC Trading Pairs!

Binance has confirmed that it will continue offering discounted taker fees on all existing and new USDC spot and margin trading pairs. The end date for this promotion has not yet been specified, and users are advised to follow future announcements for updates.

Regional Restrictions and User Eligibility

Binance’s announcement also emphasized that due to regulatory restrictions, users residing in certain countries and regions will not be able to trade these new pairs. Currently, trading access is restricted for users in the following countries and territories:

• Canada
• Cuba
• Crimea Region
• Iran
• Netherlands
• North Korea
• Syria
• United States and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, U.S. Virgin Islands)
• Non-government controlled areas of Ukraine

Users must complete account verification (KYC) to participate in trading these new pairs.

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