Coinbase hints at adding more cryptocurrencies
Coinbase announced last week its intention to add the cryptocurrency ethereum classic to its exchange. It will be the fifth cryptocurrency added to the webpagina. And based on comments by two Coinbase executives at Yahoo Finance’s All Markets Summit: Crypto te San Francisco last week, Coinbase customers can expect more assets very soon.
When the fattest crypto brokerage ter America adds another coin to its toneel, it’s a big overeenkomst. Coinbase, with its 20 million users, is seen spil the friendliest option for newcomers to buy crypto, and it presently offers buying and selling of bitcoin, ether, litecoin, and bitcoin contant.
But when Coinbase added bitcoin contant (BCH) at the end of , it did not go well. The price of the asset skyrocketed te the hours leading up to Coinbase’s announcement, so when the announcement came out, critics suggested that some people—whether it wasgoed Coinbase employees or friends of Coinbase employees—knew Coinbase would be adding bitcoin metselspecie, and bought it up before the news dropped, akin to insider trading.
This time, Coinbase went about it differently: It announced on June 11 “our intention to add support for ethereum classic (ETC) to Coinbase ter the coming months,” rather than announcing the addition of an asset at the same time it is available for trading on the webpagina. “When wij reach the final testing phase of the technical integration,” the blog postbode reads, “we will publicly announce a launch date for trading via our blog and Twitter.”
That strategy is what Coinbase will use for the addition of all fresh assets te the future. “Our fresh policy basically pre-announces assets to avoid exactly that kleintje of punt,” said Coinbase CTO Balaji Srinivasan at Yahoo Finance’s summit. “We announce the intent, then wij go and list it. We’re truly just attempting to be utterly above-board with everything that we’re doing.”
Coinbase launched ter 2012, and did not add its 2nd cryptocurrency, ether, until . After that, it added two more coins ter one year: litecoin and bitcoin contant ter .
When asked if Coinbase is likely to ramp up the tempo of adding assets, Srinivasan would only say, “Stay tuned.”
But his colleague, Coinbase VP of business development Emilie Choi (who wasgoed brought on to oversee M&A activity), wasgoed willing to say more: “Obviously, adding more assets to the toneel is a very big priority for us… it’s top of mind for all of us.”
Srinivasan elaborated by pointing out that ter March, Coinbase announced it will soon add support for ERC20 tokens, which are tokens created through ICOs (initial coin offerings) built on the Ethereum protocol, such spil EOS, Tron (TRX) and Binance Coin (BNB). So “at some point,” he said, Coinbase might “add asset classes like that vs. individual assets.”
Daniel Roberts covers bitcoin and blockchain at Yahoo Finance. Go after him on Twitter at @readDanwrite.