Is Coinbase Manipulating Cryptocurrencies? Brian Armstrong defends himself

Game rules – Coinbase was already Suspected insider trading in 2017. Grant later Take advantage of relaxation. Some crypto enthusiasts continue to make such claims today. These allegations directly affect the process of listing a token on the platform. Coinbase CEO Brian Armstrong has provided lengthy explanations to defend his company against the accusations. explanations.

Cryptocurrency listings on Coinbase: No darling!

Brian Armstrong tried to clarify a few things Gray areas related to their icon insertion processin a blog post dated April 28, 2022. This statement from No. 1 of the stock exchange aims to allay concerns regarding two major issues.

Cryptocurrency fans would say on the one hand, “They didn’t always understand Why does coinbase list some assets and not others? They would also make notes about the fact that “People looked fine. Purchase of certain assets by That “the exchange announces its listing. These investors will then benefit from the “on occasion” price action following the listing announcements of said tokens.

Brian Armstrong first noted that the process for listing an asset on the platform is “rigorous and time-consuming.” Some tokens are difficult to parse for technical reasons.

So you won’t install Coinbase no “favoritism”. The exchange will review the “assets as soon as possible”. It will also list all cryptocurrencies within its capabilities, as long as the platform considers them “safe and legal.”

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List of symbols and information inconsistencies: It can happen!

However, the CEO of Coinbase wants to be reassured. In fact, Brian Armstrong admits, however, that some clients – Not allcan access data Which allows them to predict a possible price quote for an asset:

“This could be, for example, using on-chain data to detect when Coinbase is testing new asset integrations or using small variations in Coinbase API responses to detect when an asset is being created, but not yet released.”

Brian Armstrong also acknowledges that people “inside Coinbase” can Detects “intentionally or unintentionally”Information for people abroad.

The exchange, however, reportedly has a “zero tolerance” policy regarding these illegal activities. Investigations will be conducted to combat such acts. Thereafter, the work is “immediately terminated and employees who engage in such activities are referred to the appropriate authorities (possibly criminal prosecution)”.

Coinbase CEO also remembers having a file trade policy. Oversees stock exchange employees and other insiders who may buy or sell company stock. This policy also prohibits such individuals from trading the assets listed on the platform.

Brian Armstrong, CEO of Coinbase.
Brian A.sstrong

Adding Coinbase Tokens: Tweaks for More Fair Play

Hence it is necessary to combat the potential asymmetry of information. To do this, Coinbase plans to bring in files Changes in the token listing process over the next few quarters.

In the future, the exchange will announce the listing of an asset as soon as this decision is made, Even before the start of technical integration work for this classification. Thus, investors who closely monitor on-chain data will not be able to benefit from this technical information themselves.

Brian Armstrong further recalls that the exchange announced in March 2022, the use New experimental label. This designation for certain assets will only be appropriate for experienced traders.

This designation is intended to alert users of the platform to the specific risks they are exposed to when trading these assets. The exchange plans to develop new signs and features that go in this direction.

Coinbase will also let the community to rate and comment Assets listed or not listed on the platform.

The stock market is finally planning to invest more in Improve your ability to rate token : Analysis of the economic model of the origin, the use of investigation tools on the chain. Thus, Coinbase will improve the choice of assets that should be included or removed from its platform.

These fairly detailed explanations of the process of listing a token on Coinbase come a few days later The exchange added StepN, GST and GMT tokensto its platform.

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