Key Insights
- •Coinbase is likely working on a prediction markets platform, with speculations soaring over the Base token launch.
- •One screenshot suggested that the platform would be built on Kalshi’s infrastructure.
- •Coinbase set off a new wave of speculation after quietly updating its X bio with just two words: “December 17.”
Tech researcher Jane Manchun Wong has observed early signs that Coinbase may be developing a prediction markets website. She noted that these clues appeared intentional, although the exchange has not yet provided any official comment.
Concurrently, Coinbase updated its X bio to include only "December 17," leading traders to speculate about a potential Base token launch, a new product, or another significant announcement. The company also shared a single green candle image, which many users interpreted as a deliberate hint.
Coinbase's Potential Prediction Markets Website
Tech researcher Jane Manchun Wong shared on X that she had discovered what appeared to be an early version of a Coinbase prediction market. The images immediately garnered significant interest, particularly because the leading crypto exchange had not made any public announcements regarding such a development.
One of the screenshots indicated that the platform might be built using Kalshi’s infrastructure. Kalshi is a prediction markets platform that recently completed a Series D funding round, securing $300 million.
Recent official announcements from Kalshi suggest the prediction markets infrastructure provider has been expanding its reach. Its involvement would signify a regulated approach to Coinbase's potential offering.
Wong's shared screenshots displayed a clean interface bearing Coinbase’s logo, alongside an FAQ section and a brief guide explaining the product. She observed that these elements suggested the project was more advanced than a simple experiment.
While Coinbase has not commented on Wong's findings, the company had previously informed CNBC of its intention to launch a prediction market as part of its broader strategic objectives. Executives expressed their ambition to transform Coinbase into an "everything exchange," with prediction markets being a key component of this vision.
The regulatory landscape also plays a role in this context. In 2024, Coinbase was among the firms that contested the Commodity Futures Trading Commission's rules concerning prediction markets. Given this history, Wong's recent discovery aligns with the company's long-term strategic interests.
Speculation Surrounding a December 17 Announcement
Coinbase ignited a new wave of speculation by quietly updating its X bio with the phrase "December 17." This change occurred without any accompanying explanation, prompting traders to immediately question what the company planned to unveil on that specific date.
Shortly thereafter, Coinbase posted an image of a single green candle accompanied by the caption, "May I meet you?", which further intensified the guessing among users.
Brian Armstrong, Coinbase's CEO, contributed to the buzz by advising followers to "Check Coinbase’s bio," a comment that clearly signaled intent and significantly boosted engagement.
Many users pointed out that Coinbase rarely uses its bio for promotional teasers, suggesting that the timing of this update felt deliberate rather than coincidental.
The most prevalent theory connects the date to Base token, Coinbase's layer-2 network. Earlier this year, the Base team indicated they were exploring the possibility of a network token, and some observers quickly linked this remark to the December 17 hint.
However, some urged caution, noting that Coinbase's recent earnings call did not include any discussions about token-related plans. As a publicly traded company, any token launch would be subject to a lengthy and highly scrutinized regulatory process.
Despite these considerations, supporters highlighted the rapid growth of Base, its recent integrations, and Coinbase's increasing focus on on-chain identity as reasons to believe that news regarding a Base token might still be forthcoming.
As of now, the exact significance of the December 17 date remains unclear.