Is Coinbase Manipulating Crypto? Brian Armstrong defends himself

The rules of the game – Coinbase was already suspected of insider trading in 2017† The fair then benefited from a relaxation† Some cryptophiles continue to make such claims today. These allegations directly affect the process of placing a token on the platform. Coinbase CEO Brian Armstrong has given extensive explanations to defend his company against these allegations. explanation.

Listing of cryptocurrencies on Coinbase: no dear!

Brian Armstrong, was trying to clarify something gray areas related to the token list processin a blog post dated April 28, 2022. This statement from the scholarship’s No. 1 aims to allay concerns about two main issues.

Cryptophiles would have said on the one hand “that they didn’t always understand” why coinbase lists some assets and not others? They are also said to have commented on the fact that “people seemed” buy certain assets just before dat”, the stock exchange announces their listing. These investors would then benefit from “price movements” “sometimes” following announcements of the listing of said tokens.

Brian Armstrong first recalled that the process of listing an asset on the platform is “rigorous and time consuming”. Some tokens are remarkably more difficult to analyze for technical reasons.

Coinbase would therefore not demonstrate no preference”† The exchange would “assess the assets as soon as possible”. It would further list all cryptocurrencies within its capabilities, as long as the platform deems it “safe and legal”.

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Token listing and information asymmetry: it can happen!

Coinbase’s CEO wants to be reassuring, though. However, Brian Armstrong admits that some clients – Not everythinghas access to data allowing them to anticipate a potential quote of an asset:

“This could be, for example, using on-chain data to detect when Coinbase is testing new asset integrations or using minor differences in Coinbase API responses to detect when assets are configured but not yet launched”

Brian Armstrong Also Admits That People Can Be “Within Coinbase” make public “intentionally or unwillingly”information to people outside.

However, the exchange reportedly has a “zero tolerance” policy regarding such illegal activities. It would conduct investigations to combat such acts. Employees involved in such activities would then be “dismissed with immediate effect and referred to the appropriate authorities (possibly for criminal prosecution)”.

Coinbase’s CEO also recalls the existence of a trade policy† It oversees stock exchange officials and other insiders who can buy or sell company stock. This policy also prohibits these individuals from trading assets listed on the platform.

Brian Armstrong, CEO of Coinbase.
BrianA.rmstrong

Addition of Tokens on Coinbase: Adjustments for More Fair Play

It is then necessary to counteract possible asymmetries of information. To do this, Coinbase plans to changes to the token list process in the coming quarters.

The exchange will announce the listing of an asset in the future once this decision is made, before the start of the technical integration works for this review. Investors who closely monitor on-chain data will therefore not be able to benefit from such technical information alone.

Brian Armstrong further recalls that in March 2022, the exchange announced that the use of from a new experimental label† This label is for certain assets that are only suitable for experienced traders.

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

Coinbase will also allow the community assess and respond assets that may or may not be listed on the platform.

The stock market is finally planning to invest more to improve your ability to evaluate a token : analysis of the economic model of the asset, use of on-chain research tools. Coinbase will thus improve the selection of assets to list or remove from its platform.

This rather detailed explanation of the process of listing a token on Coinbase comes a few days later the exchange has added StepN, GST and GMT tokensto his platform.

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