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Coinbase wants to make it easier for new crypto projects to be listed

Coinbase insists that its doors are open for any credible crypto to join its platform. However, only the cryptos that pass the listing procedure will be added onto the platform. In that sense, exchange makes it clear that it will only deal with coins that are compliant to regulatory policies.

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TL;DR Breakdown

  • Coinbase is launching a new coin listing system Asset Hub.
  • All compliant cryptos will be listed on the exchange
  • XRP will be suspended from the platform

For years, Coinbase has been known as one of the hardest exchanges for any new crypto projects to score a listing on. It has always been strictly selective about its listings. Now, with the crypto industry blooming at a much faster rate than previous years, the crypto exchange is changing tack to ease the listing process.

Coinbase launches Asset Hub

To do this, the exchange has announced the launching of a new listing system that allows project creators to view and track the review process of their application prior to listing on the trading platform. Coinbase expects this new effort to make the listing process easier both for the exchange and crypto project creators.

While announcing the launching of the new listing system called Asset Hub, the crypto exchange referred to it is as “an open invitation to asset issuers.”

“Our door is open”

Coinbase insists that its doors are open for any credible crypto to join its platform. However, only the cryptos that pass the listing procedure will be added onto the platform. In that sense, exchange makes it clear that it will only deal with coins that are compliant to regulatory policies.

One point to note is this particular has been largely compliant to US regulatory policies, even going as far as agreeing to work with some law-enforcement agencies like the FBI in fighting crime. Still, any willing crypto project can apply for listing on the exchange via the Asset Hub.

Listing fees

Some exchanges have been known to charge a fee to crypto projects applying for listing, but Coinbase has largely shied away from charging listing fees. Notably, exchanges charge fees sometimes when the applications are many and the listing process has to be run on a priority basis.

That said, exchange’s new listing system is unlikely to change things as far as fees are concerned. With the exchange proclaiming “open doors,” it’s highly unlikely that it will start charging listing fees.

Coinbase will suspend XRP

As a regulation-compliant exchange, Coinbase seems to be having serious issues with the lawsuit currently bedeviling XRP creator company, Ripple. Ripple is currently embroiled in a court battle with the US SEC after the oversight body filed charges against the company in December 2020, accusing it of illegally transacting with securities (a reference to XRP).

Coinbase wants to make it easier for new crypto projects to be listed 1

Following this, the platform has announced a decision to suspend XRP from its trading platform effective January 19, 2021. XRP is also being seen as a risk by other major investment institutions like Grayscale which has already began to get rid of its XRP stash.

Blockchain

Bitcoin price is going to ‘infinity’ — Kraken CEO

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Bitcoin (BTC) will be worth “infinity” and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken.

Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000.

Powell: $1 million Bitcoin in ten years “reasonable”

“Of course, you know, we can only speculate, but when we measure it in terms of dollars, you have to think it’s going to infinity,” he told Bloomberg TV about future price trajectory.

“This national currency’s only fifty years old, it’s already showing extreme signs of weakness, and pretty soon I think people are going to start measuring the price of things in Bitcoin.”

Powell was commenting as the USD weakened alongside a macro market sell-off on Wednesday, an event which had next to no impact on Bitcoin. At the same time, the U.S. national debt quietly passed $28 trillion for the first time in history.

Despite a rejection of $50,000 support, Bitcoin bulls thus remained more than optimistic.

“The people that are believers in Bitcoin see… it’s going to replace all of the world’s currency, so that basically means whatever the market cap of the dollar is, the euro — all of that combined is what Bitcoin could be worth,” Powell continued.

“I think in the near term, people see it surpassing gold as a store of value, so I think $1 million as a price target within the next ten years is pretty reasonable.”

As Cointelegraph noted, Bitcoin closed February 26% above its target dictated by the stock-to-flow-based price models, with creator PlanB still confident that $100,000 will hit at some time this year.

Bitcoin stock-to-flow chart as of Mar. 3, 2021. Source: Digitalik

No time for gold

Meanwhile, the gold ecplise argument has been steadily gaining support on social media in particular, often at the expense of gold bugs, who are left with increasingly little ammunition to defend their anti-Bitcoin stance.

As Cointelegraph reported, it was billionaire and former Bitcoin skeptic Mark Cuban who this week took SchiffGold.com CEO Peter Schiff to task over his love of the precious metal. Gold, he told Schiff, “is dead.”

“Bitcoin has been crushing gold since inception,” Kraken growth lead Dan Held added in response to claims by Schiff that a bet against gold was a losing one.

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Source: https://cointelegraph.com/news/bitcoin-price-is-going-to-infinity-kraken-ceo

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Giottus technologies offers access to Bitfinex liquidity

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Giottus Technologies (Giottus), a cryptocurrency exchange, today announced that it will provide access to liquidity on Bitfinex, providing its customers with some of the deepest crypto-to-crypto liquidity in the industry.

Giottus is also introducing the most competitive fee structure in India for its customers.

“Giottus customers can now enjoy high liquidity across BTC/USDT, ETH/USDT, XRP/USDT, TRX/USDT, ETH/BTC, and many more. Through the strategic agreement with Bitfinex, we have further strengthened our compliance policies and procedures, both on and off-chain,” said Vikram Subburaj, Co-Founder & CEO at Giottus.

The commitment to our customers comes first, which is why we have introduced the most competitive fees in India, 0% Maker & 0.075% Taker. Traditionally, the largest global exchanges charge these low fees only to customers trading USD 3Bn+ monthly. Giottus customers can enjoy these fee levels irrespective of their monthly trade volumes,” added Arjun Vijay, Co-Founder & COO at Giottus.

Benefits of this new strategic agreement include,

  • Some of the deepest crypto to crypto liquidity in the industry
  • The most competitive fees in India – 0% (Maker) & 0.075% (Taker)
  • Enhanced on & off-chain compliance and controls

About Giottus 

Giottus is changing the way Indian users trade their digital assets by building a platform that is customer-centric along with top-tier customer support on par with the world’s best international exchanges. Preferred by beginners and veterans alike, Giottus offers products and solutions that cater to users of all segments.

Key product features include,

  1.  Trading in 100+ crypto pairs
  2.  One-Click INR Deposit and Buy
  3.  24×7 Banking Support
  4.  Multilingual Customer Support (English, Hindi, Tamil & Telugu)
  5.  Superfast KYC processing

In the past month, Giottus has launched the trade of 30+ new INR-crypto pairs along with an improved compliance mechanism and upgraded tech-stack to support its growing Indian consumer base.

Giottus is highly rated and loved in India with a greater than 4.8 on 5 average ratings among reviews on Google, Facebook, and Trustscore.

Contact

Srivathsan A R, Chief Marketing Officer, Giottus @ [email protected]

For more details, visit their website or contact them on Telegram

Disclaimer: This is a paid post and should not be taken as news/advice

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Source: https://ambcrypto.com/giottus-technologies-offers-access-to-bitfinex-liquidity

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Coinbase CEO tops China’s Hurun list of blockchain billionaires

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The CEO of the United States’ largest cryptocurrency exchange, Coinbase, has topped the list of global industry billionaires by China’s Hurun Research Institute.

Issued on March 2, the latest Hurun report provides a brief overview of the world’s richest, stating that the number of global billionaires has surged nearly 50% to hit over 3,000 people over the past five years. The report includes 17 “blockchain billionaires,” or industry entrepreneurs who made their fortune “mainly from cryptocurrency” as of January 2021.

According to the report, Coinbase CEO Brian Armstrong is the world’s biggest crypto billionaire, with his net worth surging ten-fold from $1 billion last year.

According to Hurun’s data, Armstrong now has an estimated wealth of $11.5 billion ahead of Coinbase’s imminent initial public offering. The company officially announced its IPO plans in December 2020 in a draft filing with the United States Securities and Exchange Commission.

Sam Bankman-Fried, founder and CEO of Alameda Research and FTX exchange, is ranked the second-richest blockchain billionaire, with a net worth evaluated at $10 billion. The executive is a new entrant in the Hurun list, following the massive growth of FTX in 2020.

Changpeng Zhao, CEO of the world’s largest crypto exchange Binance, is ranked the third, with total wealth estimated at $8 billion, up more than 200% from last year. In 2020, Zhao was featured as the richest crypto billionaire in the Hurun list, overtaking Bitmain’s co-founder Micree Zhan Ketuan.

The Hurun’s new blockchain billionaires list includes a number of major industry players like Ripple co-founders Chris Larsen, Stellar co-founder Jed McCaleb, Digital Currency Group CEO Barry Silbert, the Winklevoss brothers, MicroStrategy CEO Michael Saylor, and others. The list features a total of 11 new entrants in the list including major industry investor Tim Draper and Galaxy Digital founder and CEO Michael Novogratz.

Source: Hurun

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Source: https://cointelegraph.com/news/coinbase-ceo-tops-china-s-hurun-list-of-blockchain-billionaires

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