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
article image
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
Max Keiser Bashes Coinbase's Idea of Adding New Tokens, Accuses Crypto Exchange of Operating Outside CA Law
Cover image via www.facebook.com
Contents

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.

Coinbase considers listing of 18 altcoins
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.

Max Keiser bashes Coinbase
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.

article image
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.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
article image
Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
Cover image via stock.adobe.com
Contents

While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

article image
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.)