Coinbase Launches Wallet as a Service, Silvergate Shutting Down

Market Update After January's total number of job openings came in higher than expected yesterday, initial jobless claims spiked this morning to 211k versus 195k expected, giving markets a slight boost. The $SPY and $QQQ are up 0.13% and 0.53%, respectively, at the time of writing. Crypto markets are mixed today, with $BTC trading at $21.5k (-1.03%) and $ETH trading at $1.53k (-0.27%). After being some of the biggest winners in the first two months of the year, LSD protocols have been underperforming so far in March. $LDO, $RPL, and $FXS are down 21.82%, 18.79%, and 26.04%, respectively this month. Many investors may be locking in gains as the macro-environment has increased in hawkishness in recent weeks.Coinbase has launched a new product called wallet as a service (WaaS), which companies can use to onboard its users to the digital economy seamlessly. Many companies currently face a multitude of challenges when it comes to integrating with Web3, such as users needing a crypto wallet to engage with digital assets and complete transactions. WaaS helps alleviate this problem by providing a scalable and secure set of wallet infrastructure APIs, allowing companies to create and deploy digital wallets for their end-users easily. WaaS also handles the storage of wallet seed phrases,