Coinbase announced that the company is moving its state of incorporation from Delaware to Texas.
The exchange cited "unpredictable outcomes" in the Delaware Chancery Court as a key reason for the shift, noting ongoing litigation related to its 2021 public listing. Texas law allows corporations to limit shareholder lawsuits against executives, offering greater legal predictability.
"For decades, Delaware was known for predictable court outcomes, respect for the judgment of corporate boards and speedy resolutions," Coinbase Chief Legal Officer Paul Grewal wrote in a Wall Street Journal opinion piece. "It's a shame that it has come to this, but Delaware has left us with little choice."
The company joins other notable departures from Delaware, including SpaceX, Andreessen Horowitz, Dropbox and TripAdvisor. Chief Legal Officer Paul Grewal described the move as a practical necessity given the current legal landscape in Delaware.
Visa has introduced a pilot program enabling marketplaces to pay gig workers, freelancers and creators directly in dollar-backed stablecoins like USDC.
The program uses Visa Direct to allow near-instant payouts, typically within 30 minutes, enhancing liquidity and accessibility for workers.
Visa has been expanding its crypto capabilities through partnerships with Bridge, Paxos and PayPal's PYUSD, integrating stablecoins into cards and payment rails.
The company faces competition from Mastercard, which is also deploying stablecoin solutions in collaboration with Ripple, Kraken and other partners.
JPMorgan Chase has rolled out a dollar-denominated deposit token, JPMD, on Coinbase's Base Ethereum layer-2 network, enabling instant, 24/7 transactions for institutional clients.
Unlike privately issued stablecoins, JPMD represents actual deposits held within the bank, effectively tokenizing commercial bank money for blockchain use. The launch follows months of trials with Mastercard, Coinbase and liquidity provider B2C2, allowing JPMorgan to test settlement efficiency and interoperability.
The bank plans to expand JPMD to retail clients and introduce a euro version, JPME, as well as integrate additional blockchains pending regulatory approval.
Circle's Q3 earnings report showed strong growth, with total revenue and reserve income hitting US$740 million, up 66 percent annually. Adjusted EBITDA increased 78 percent over the same time period to US$166 million, while net income from continuing operations surged 202 percent to reach US$214 million.
What's more, USDC stablecoin circulation grew 108 percent US$73.7 billion, generating US$711 million in reserve income. The company also raised its 2025 outlook for other revenues and operating expenses, signaling confidence in sustained growth.
Alongside its performance report, Circle said it is considering a token for its ARC layer-1 blockchain testnet, an Ethereum Virtual Machine network, which "could foster network participation to drive adoption, further align the interests of Arc stakeholders and support the long-term growth and success of the Arc network."
Canary Funds filed a Form 8-A with the SEC on Tuesday for its Canary XRP ETF, meaning it will likely become the first pure spot XRP ETF to list in the US.
Canary's US SEC filing followed the Depository Trust & Clearing Corporation's recent update listing several spot XRP ETFs, including Canary Capital's.
Bloomberg's ETF analyst, Eric Blachunas, posted the Nasdaq's office listing notice for $XRPC on X on Wednesday afternoon. The ETF is slated to begin trading on Thursday morning (November 13) under the ticker symbol XRPC.