Courtesy: https://www.coinbase.com/
- Coinbase CEO has revealed that the exchange intends to list every other asset, as long as it’s legal to do so, but urged caution when investing.
- His comments come at a time when its biggest rival Binance has faced regulatory issues and has now been banned by the U.K’s financial regulator.
Our goal is to list every crypto asset in the market, the CEO and co-founder of Coinbase has claimed. Speaking on social media, Brian Armstrong has however urged investors to do their own research as a listing is not an endorsement. At the same time, its biggest rival Binance is facing mounting regulatory pressure and is now banned in the U.K, just days after Japan issued a warning against the exchange.
Aside from the biggest exchange in the U.S, Coinbase is also one of the most important in the world. Time and time again, a listing on the exchange means a token is set to spike in price. And now, according to its CEO, it wants to make every other crypto asset available to its users.
1/ Reminder about how Coinbase lists assets: our goal is to list *every* asset where it is legal to do so.
— Brian Armstrong (@brian_armstrong) June 28, 2021
Coinbase has shown its commitment to availing more digital currencies to its users. One of its most recent additions is Dogecoin, which has gained a global community and is one of the crypto traders most favourite coins. It now lists about 60 digital assets.
Read More: Coinbase launches Dogecoin with a $1.2m giveaway as prices flop
However, in as much as Coinbase wants to list more tokens, Armstrong has called for caution from investors. Just because the exchange lists a token, it doesn’t imply that it has endorsed the coin, or its technology.
The CEO stated, “But in general, one should not take being listed on Coinbase as an endorsement of that asset (outside of meeting our minimum standards). Do your own research and exercise good judgment.”
He added:
…we don’t offer an opinion on the value of each asset. We are asset agnostic, because we believe in free markets and that consumers should have choice in the cryptoeconomy.
5/ We’re working hard to keep up with the incredible amount of assets being issued, and responding to and interacting with the amazing asset issuers who are doing their own hard work, day and night, to build the future of this industry.
— Brian Armstrong (@brian_armstrong) June 28, 2021
However, despite claiming to be asset-agnostic, Coinbase has taken a stand against tokens such as Bitcoin SV. Armstrong, just like Kraken’s Jesse Powell and Binance’s Changpeng Zhao, has expressed his opposition to Craig Wright, who claims to be Satoshi Nakamoto. With Craig being seen as the leader of the BSV community, these three, and a few others, have chosen to go against a whole community of BSV traders.
Aside from expanding its digital asset offerings, Coinbase is seeking to expand across the globe. Its latest move is in Germany where it recently gained a license to offer its services. Coinbase Germany GmbH is now the first company to gain such a license in the European country. BaFin, the German market regulator revealed that the license allows the exchange to conduct proprietary trading of crypto assets.
Meanwhile, as Coinbase expands, its rival Binance is facing all manner of issues. Its latest is a ban in the U.K by the market regulator. The Financial Conduct Authority has ruled that Binance can’t conduct any regulated activity in the U.K. It stated:
Due to the imposition of requirements by the FCA, Binance Markets Limited is not currently permitted to undertake any regulated activities without the prior written consent of the FCA.
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