Max Keiser Bashes Coinbase's Idea of Adding New Tokens, Accuses Crypto Exchange of Operating Outside CA Law

News
Thu, 06/11/2020 - 12:11
Vladislav Sopov
Amidst increasing criticism, Coinbase has decided to list new assets. Russia Today host and Bitcoin (BTC) proponent Max Keiser has slammed them for 'casino'-like approach
Cover image via www.facebook.com
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Max Keiser, Bitcoin (BTC) evangelist, popular TV host and founder of Heisenberg Capital Bitcoin (BTC) hedge fund, has criticized the Coinbase multi-currency crypto exchange for the idea listing shady tokens.

Coinbase is in hot water

Today, on June 11th, 2020, the Coinbase exchange announced it is considering new listing proposals. For some of them, it will be their first listing: as unveiled by Coinbase, not all of the tokens under consideration are live.

Image via Twitter

Coinbase assured that every asset will be evaluated against their brand's Digital Asset Framework to guarantee full compliance with local financial regulations.

The list of tokens that may be listed on Coinbase is interesting. In this proposal, well-known DeFi assets (of Aave Protocol, Bancor, Synthetix) are accompanied by real-world blockchain-based solutions (VeChain) and tokens of decentralized data storages (Render Network, Sia, etc.)

According to the official announcement, every listing is subject to detailed compliance and will strictly follow regulations of corresponding jurisdictions.

This statement has been released amidst a storm of criticism that started with Nassim Talleb leaving Coinbase due to slow responses from technical support. Also, Coinbase has been criticized for its failure to handle traffic spikes in periods of Bitcoin (BTC) volatility.

Max Keiser disapproves of alts, particularly 'phantom coins'

Mr. Keiser has slammed the idea of Coinbase's new listings. According to him, with these altcoins available on Coinbase, the service resembles a casino, from a technical point of view. Thus, it should be held to draconian gambling regulations.

Image via Twitter

He highlighted that mostly, these to-be-listed coins will exist only by virtue of being listed on Coinbase. It is possible only because the company operates outside of California's law.

Max Keiser is a prominent critic of altcoins. In a recent exclusive interview with U.Today, he bashed major altcoins, including Bitcoin Cash (BCH), Bitcoin SV (BSV) and XRP for being 'exit scams'.

He highlighted that he was never interested in investing in altcoins as Bitcoin (BTC) is the only valuable blockchain in terms of hashrate and economics.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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