*By Tanaya Macheel*
Coinbase has debuted OTC trading for its Prime customers.
OTC, or over-the-counter, trading occurs between two parties directly ー as opposed to over an exchange ー typically between an investment bank and its clients.
“We launched our OTC business as a complement to our exchange business because we found a lot of institutions were using OTC as an on-ramp for crypto trading,” said Christine Sandler, head of sales at Coinbase. “We felt this was a huge benefit to our clients to actually leverage both our exchange and our OTC business.”
Earlier this month, Coinbase began to permit its clients to trade any asset that trades on Coinbase Prime and order books through its web interface, Skype, Bloomberg IB, email or phone, according to documentation shared with some clients and obtained by Cheddar.
“Trades settle seamlessly and instantly, with funds available for immediate withdrawal” and “no possibility of a failed trade and no need to chase down wires and blockchain transfers,” the documentation said.
Sandler said the company plans to expand the service offering to include delayed settlement and will potentially integrate it with Coinbase Custody, its platform for hedge funds, exchanges and ICO teams that launched this past July.
In May, [Business Insider](https://www.businessinsider.com/coinbase-block-trading-2018-4/) reported that Coinbase would add support for OTC trades. Shortly after, Coinbase launched the Prime platform, designed to lure institutional investors with trading tools and with longer-term plans to present over-the-counter trading, algorithmic orders, and advanced market data products.
The timing of the rollout was opportunistic and a reaction to client demand, according to Sandler. Earlier this year, Cameron and Tyler Winklevoss’ Gemini launched OTC trading.
Circle has a similar product, Circle Trade, through its February acquisition of Poloniex.
Maks Chmerkovskiy and wife Peta Murgatroyd, of "Dancing With the Stars" fame, are branching out into skincare.
Donald Trump began testifying Monday morning in his civil fraud trial, producing the spectacle of a former president and the leading Republican presidential candidate defending himself against allegations that he dramatically inflated his net worth.
The trial between Google and the maker of the game Fortnite will begin Monday as a San Francisco jury will hear Epic Games' case claiming the Google Play Store takes an unfair commission on purchases made through apps.
One of the most self-made and success stories in the country, Emma Grede, has worked along with the Kardashian Jenner family on many of their best-known brands. Grede, CEO and co-founder of Good American, gave back to the next generation of business leaders as a featured speaker at the Chase for Business Make Your Move summit last week. She spoke with Cheddar News about her career, her company's fashion brand, working with the famous Kardashian-Jennifer family and balancing her own family life.
Berkshire Hathaway, the conglomerate run by businessman Warren Buffett, reported its operating earnings in its most recent quarter jumped more than 40% from a year ago but posted its first net quarterly loss in a year.
Elon Musk's company XaI has announced a new chatbot called Grok.
SAG-AFTRA said over the weekend that it received the studios' last best and final offer following a meeting on Saturday, with the union saying it's reviewing it and considering a response "within the context of the critical issues addressed in our proposals."
Stocks rose slightly as Wall Street looks to continue its momentum with earnings season winding down.
Tyson Foods is recalling about 30,000 of its dino-shaped chicken nuggets after some consumers reported finding small metal pieces in those nuggets.
Google on Monday will try to protect a lucrative piece of its internet empire at the same time it’s still entangled in the biggest U.S. antitrust trial in a quarter century.
