No longer looking to be the " stamp of approval" Coinbase wants innovation led by the amount of legal assets it can offer, and will leave it to the free market to decide who is the next best bet.
Let us wait to see where it leads to!
Some new listings show this strategy already.
FARM, FET, PAX and POLY
Currently available to Pro users, in USD and USDT pairs.
FARM, recently listed, jumps 160%. Wow!
CB launches Alchemy Pay (ACH), PlayDapp (PLA) and Rai Reflex Index (RAI)
ACH is up almost 600% since listing on 08/02. Less than 7 days! CB Bounce is back at it again.
Started on CB at $0.014. Currently trading at $0.1490. Traded as high as $0.2410 about 5 and a half hours ago.
CB recently launched Axie Infinity (AXS), Request (REQ), TrueFi (TRU), Quickswap (QUICK) and Wrapped Luna (WLUNA).
AXS/USD has made huge moves, increasing 300+% in the last 30 days, from $14.50 to almost $80. Currently trading at $70.
Whose stamp of approval were they seeking?
If you mean Coinbase and their change of course, their investors.
Yes, that’s what I meant. thank you for clarifying!
3 new listings
- RAD - Radicle, an open source software collaboration network
- DFI.money - hard fork of yield farming aggregator Yearn.finance
- DDX - native asset of DerivaDEX, a community-driven derivatives exchange
After the surprise listing, all three are up double-digits, with DDX up 70+%.
Shares of Coinbase fell as much as 3.2% after it became evident the Securities and Exchange Commission (SEC) in the U.S. plans to take an enforcement action against the crypto exchange, over an interest earning product, which was about to be launched in the coming weeks.
Coinbase said it has received a notice from SEC earlier this week and has delayed the launch of the product until at least October.
Two new listings on Coinbase Pro:
- RTG: Rari Governance token, that is used for fee discounts and protocol governance.
- XYO - an Ethereum token that powers XYO Network, a decentralized network of devices that anonymously collect and validate geospatial data.
Two more to add to the list:
- ZEN: a blockchain ecosystem that enables privacy-preserving decentralized applications.
- BTRST: an Ethereum token that powers Braintrust, a decentralized talent network connecting freelancers with organizations
I have not even heard of some of those. What prompted this change actually?
Fees, fees and more fees! Lots of money to be made by listing as many assets as possible. And it’s working.