- Coinbase Wallet is preparing for a rebrand but the app will remain available to users.
- Analysts suggest the wallet may be renamed “The Base App” to reflect its evolving focus on decentralization.
- Ethereum’s upcoming zero-knowledge proof upgrade has received support from Ark Invest CEO Cathie Wood for its institutional potential.
- Bitcoin surged 1% to nearly $119,000, and BlackRock’s IBIT now manages over $80 billion in crypto assets.
- Gold reached $3,371 as central banks continue purchasing record amounts, while Asian markets declined after new U.S. tariffs were announced.
Coinbase Wallet will undergo a name change, according to recent updates. Users will continue to access the application, but its future identity is currently listed as “TBA” on its official X profile.
Market analysts, including Bradley Park of DNTV Research, believe the change could indicate a new direction focused on “The Base App,” which may enhance decentralized features and broaden in-app experiences. Jesse Pollak, who became the lead for Coinbase’s Wallet team last year, supports this theory through his previous statements favoring decentralization.
The wallet has experienced multiple rebrands, beginning as “Toshi” before adopting the Coinbase Wallet name in 2018. The latest rebrand may seek to emphasize its decentralized connections and distance it from Coinbase’s core brand.
Ethereum has announced plans to add zero-knowledge proofs (ZKPs) to its main platform, a cryptographic method that enables verification of data without revealing underlying details. ARK Invest CEO Cathie Wood commented that “Ethereum is proposing the right moves for scalability and privacy to maintain its lead in the institutional world” as the Ethereum Foundation revealed a new roadmap for protocol upgrades.
These improvements are expected to streamline block validation and reduce computational requirements for validators, allowing third parties or specialized networks to generate proofs quickly and efficiently. The transition could raise concerns around network reliability if certain proof specialists go offline but is planned to be balanced by diversity in how proofs are generated and greater decentralization.
On the market front, Bitcoin rose 1% to nearly $119,000, with BlackRock’s IBIT topping $80 billion in assets, highlighting robust institutional buying despite late profit-taking. Ethereum surpassed $3,000 for the first time since February, gaining 3% on strong institutional flows. Gold advanced to $3,371 as central banks have bought over 1,000 tonnes annually since 2022, pushing prices higher.
In Asia, the Nikkei 225 fell 0.33% after the U.S. government unexpectedly announced 30% tariffs on goods from the European Union and Mexico, set to start August 1.
Additional headlines included ongoing discussions around the potential for widespread Bitcoin adoption, U.S. congressional sessions focused on crypto regulations, and Coinbase hiring its first Crypto Twitter lead to strengthen its social media engagement.
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