Coinbase's weekly turnover in alternative markets exceeds $800 million.

In April, U.S. cryptocurrency exchange Coinbase (NASDAQ: COIN) informed its users that
received a Class F license from the Bermuda Monetary Authority (BMA) under the Digital Asset Business Act.

After completing the preparatory phase, Coinbase management stated that international users will be able to trade perpetual bitcoin and ether futures through the new platform in Bermuda.

'Coinbase International Exchange has successfully launched. We intend to continue our efforts to increase market share and will offer new features and additional products to our users in the second half of the year," said Coinbase product manager Emmanuel Gault.

According to analysts at The Block, trading volume on the exchange reached nearly $900 million between June 21 and June 28.

Coinbase is controlled by the stock exchange in Ireland as well as its Bermuda office. Coinbase received a Virtual Asset Service Provider (VASP) license from the Central Bank of Ireland in late 2022, allowing it to provide services to Irish residents.

On Wednesday, June 28, Coinbase filed a complaint in New York District Court against the U.S. Securities and Exchange Commission (SEC), alleging that the cryptocurrency exchange does not trade assets that could be considered investment contracts.