Share this article
Coinbase Acquires Ethereum Wallet Startup Cipher Browser
Decentralized app browser and ethereum wallet Cipher Browser is joining Coinbase and Toshi.
By Nikhilesh De
Updated Sep 13, 2021, 7:49 a.m. Published Apr 13, 2018, 5:56 p.m.
Make us preferred on Google
Cryptocurrency exchange Coinbase has acquired mobile ethereum wallet Cipher Browser, the companies announced on Friday.
Cipher Browser, which also offers a Web 3 decentralized app (Dapp) browser, said it would further merge many of its features with Toshi, the decentralized mobile browser launched by Coinbase developers.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In addition, Cipher browser founder Peter Kim will become the new head of engineering at Toshi as the two apps integrate their features, according to the announcement.
"We'll be merging many features of Cipher into Toshi. We're committed to building the best Web 3 experience on mobile," Cipher Browser's tweet continued.
Neither side disclosed the terms of the acquisition.
Coinbase's vice president for communications, Rachel Horwitz, said the company is "always looking to acquire the best teams and technologies in the crypto spaces," in a statement.
She added:
"Given the similarity of our product visions, we’re happy to be joining forces with Pete, who will become head of engineering for Toshi along side Sid Coelho-Prabhu, Coinbase's product lead for Toshi. In coming weeks, we’ll merge certain features of Cipher into Toshi."
In a later tweet, Cipher Browser announced that testnets would become one of the first features introduced to Toshi after the merger is completed.
Just last month, Coinbase hired former LinkedIn executive Emilie Choi as its new vice president of corporate and business development. Part of her role is to oversee mergers and acquisitions.
Ethereum wallet image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Plus pour vous
Circle’s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster
Circle’s rising correlation with ether and DeFi exposure drives the re-rating, despite valuation and competition concerns.
Ce qu'il:
- Compass Point’s Ed Engel upgraded Circle (CRCL) to Neutral from Sell and cut his price target to $60, arguing the stock now trades more as a proxy for crypto markets than as a standalone fintech.
- Engel notes that CRCL’s performance is increasingly tied to the ether and broader crypto cycles, with more than 75% of USDC supply used in DeFi or on exchanges, and the stock is still trading at a rich premium.
- Potential catalysts such as the CLARITY Act and tokenization of U.S. assets could support USDC growth, but Circle faces mounting competition from new stablecoins and bank-issued “deposit coins,” and its revenue may remain closely linked to speculative crypto activity for years.
Top Stories
