Coinbase Competitor Alert: Nomura-Backed Laser Digital Expands Crypto Derivatives in Dubai

Laser Digital, the cryptocurrency division of Japan's Nomura Holdings, has achieved a significant milestone by securing a limited license from Dubai's Virtual Asset Regulatory Authority (VARA). This license allows the firm to offer over-the-counter (OTC) crypto derivatives, making it the first VARA-regulated entity to provide direct client-facing OTC crypto options services. This development underscores Dubai's growing reputation as a crypto-friendly hub, attracting major industry players with its rigorous yet supportive regulatory framework. The move positions Laser Digital as a formidable competitor in the crypto derivatives market, potentially challenging established players like Coinbase. As of August 2025, this strategic expansion highlights the increasing institutional interest in cryptocurrency derivatives and Dubai's pivotal role in shaping the future of digital asset regulation.

Nomura-Backed Laser Digital Secures Dubai License for Crypto Derivatives

Laser Digital, the cryptocurrency arm of Japan's Nomura Holdings, has obtained a limited license from Dubai's VIRTUAL Asset Regulatory Authority (VARA) to offer over-the-counter crypto derivatives. The firm becomes the first VARA-regulated entity to provide direct client-facing OTC crypto options services.

Dubai's crypto-friendly regulatory environment continues to attract major industry players. The emirate's rigorous yet accommodating framework has positioned it as a hub for derivatives trading, with firms like Deribit—recently acquired by Coinbase—also establishing operations in the jurisdiction.

"The VARA regime demands exhaustive justification of business models but grants substantial operational flexibility once approved," said Johannes Woolard, Laser Digital's head of product. The firm plans to launch medium-dated options on major cryptocurrencies, executed under International Swaps and Derivatives Association (ISDA) agreements.

Limitless Launches Prediction Markets on Base Blockchain with $7M Funding

Limitless, a decentralized prediction platform built on Base, has surpassed $275M in total betting volume across minute, hourly, and daily markets for crypto and stock price movements. The project recently secured $4M in a strategic round, bringing total funding to $7M from investors including Coinbase Ventures and 1confirmation, with BitMEX founder Arthur Hayes joining as advisor.

Season 1 of its points farming program now allows users to earn tokens through liquidity provision, predictions, and referrals. Participants must connect a MetaMask wallet and fund with Base-network USDC to engage. The platform emphasizes careful review of position terms before execution, though full operational details remain truncated in available materials.

Mizuho Raises Coinbase Target but Favors Robinhood Amid Crypto Market Shifts

Mizuho Securities has elevated Coinbase's price target from $217 to $267 while maintaining a neutral stance, citing July's trading volume recovery after a dismal Q2. The adjustment reflects improved market activity, though Coinbase shares already trade above the new target at $297.87.

Q2 results revealed a 45% quarterly drop in consumer spot trading volume and 39% lower transaction revenue, contrasting with net income soaring to $1.43 billion. "The rebound appears fragile," notes one analyst, as institutional flows remain uneven despite retail momentum.

Robinhood emerges as Mizuho's preferred platform play, suggesting deeper structural advantages in the brokerage-crypto hybrid model. The divergence highlights how exchange valuations now hinge on multiple revenue streams beyond volatile trading fees.

Coinbase Expands Crypto Listings with Memecoins, Trading Volume Surges but Revenue Misses

Coinbase defied market expectations in Q2 2025 by aggressively listing 21 new cryptocurrencies, with a notable focus on memecoins like Fartcoin, Prompt, and Zora. The strategy paid off in trading volume—Fartcoin alone saw over three million transactions—but failed to translate into expected revenue growth.

The exchange's deliberate pivot toward low-priced, high-activity tokens mirrors broader retail investor trends. Memecoins thrive on social media HYPE and rapid speculation, generating fee revenue through constant churn. Yet this approach carries volatility risks, as influencer-driven pumps and dumps can destabilize prices abruptly.

While the new listings expanded Coinbase's user base and wallet adoption, the financial underperformance suggests a disconnect between trading activity and profitability. The exchange now faces the challenge of balancing retail appeal with sustainable revenue models.

India’s ED Seizes ₹42.8 Crore in Chirag Tomar Crypto Fraud Case

India’s Enforcement Directorate (ED) has attached assets worth ₹42.8 crore linked to Chirag Tomar, an Indian national currently serving a five-year prison sentence in the U.S. for a $20 million cryptocurrency scam. The seizure, executed under the Prevention of Money Laundering Act (PMLA), targets properties and bank deposits tied to Tomar and his associates in Delhi.

The investigation was triggered by Tomar’s December 2023 arrest in the U.S. for orchestrating a fraudulent scheme involving fake websites mimicking Coinbase. These sites, optimized to appear atop search results, duped victims into surrendering login credentials. A subsequent call center operation, controlled by Tomar, diverted stolen cryptocurrencies to wallets under his control.

Proceeds from the scam, estimated at ₹600 crore, were laundered through online platforms and funneled into bank accounts held by Tomar and family members. The funds allegedly financed luxury purchases and other expenditures.

ATOM Stages Swift Recovery Amid Volatility, Fueled by Ecosystem News

Cosmos' ATOM token rebounded sharply after a sudden drop, with prices swinging between $4.13 and $4.24 during a volatile 23-hour period. The recovery was backed by a surge in trading volume, reaching 1,046,473 units—well above the 24-hour average—as buyers defended key support at $4.149.

Bullish momentum carried into the session close, with ATOM climbing 0.67% in the final hour. The breakout above $4.20 resistance was confirmed by the MOVE indicator, signaling renewed confidence in the token.

Catalyzing the rebound was Coinbase's addition of COSMOSDYDX to its listing roadmap, highlighting growing institutional interest in Cosmos SDK-based projects. The move underscores broader momentum in the ecosystem despite market turbulence.