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Tweets from the crypto exchange and Jesse Pollack, the creator of Base, suggest cbBTC could run on the layer-2 blockchain.

Some users may still experience a "degraded" service, the exchange said.

Coinbase Q3 earnings preview

Coinbase Q3 earnings preview

Kaiko pointed to a notable drop in 2% BTC market depth on Coinbase in a report early this week.

Coinbase's expansion into Canada has cleared the hurdle of a "restricted dealer" registration, the company said on Thursday, making it the biggest registered crypto exchange in that jurisdiction.

Coinbase is seeking to rip the bandage off of a legal impasse at the center of the crypto industry's fight with the U.S. Securities and Exchange Commission (SEC), filing an interim appeal on Friday that would ask a higher federal court to drill into

The stock was the second worst performing among crypto stocks on Thursday.