{"id":25192,"date":"2022-08-07T05:19:47","date_gmt":"2022-08-07T05:19:47","guid":{"rendered":"http:\/\/egrowonline.com\/?p=25192"},"modified":"2022-08-07T05:19:47","modified_gmt":"2022-08-07T05:19:47","slug":"coinbase-ceo-outlines-his-firms-review-process-for-adding-altcoins","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=25192","title":{"rendered":"Coinbase CEO Outlines His Firm\u2019s Review Process for Adding Altcoins"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>The chief executive officer (CEO) for major crypto exchange Coinbase recently explained how his company decides which altcoins to add to the platform.<\/p>\n<p>Speaking in an <a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=VBPTFlpv31k\" rel=\"noopener\">interview<\/a> with computer scientist Lex Fridman, Coinbase CEO Brian Armstrong said that the company begins by evaluating an altcoin\u2019s status as a security:<\/p>\n<p>\u201c<em>We basically have a test of legality. We check: \u2018Do we believe this is a security?\u2019 If so, it can\u2019t be listed on Coinbase. And there\u2019s a very rigorous process we go through for that.<\/em><\/p>\n<p>\u201c<em>Just currently the way the laws are in the US, you can\u2019t do that. We acquired a broker-dealer license from the SEC. We\u2019re trying to work with them to get that operational and hopefully one day, we can trade real crypto securities but today, that\u2019s not possible in the US.<\/em>\u201c<\/p>\n<p>            <!-- Inline ads (all screen sizes) --><br \/>\n            <!-- Primis --><\/p>\n<p>            <!-- Inline ads (xs-lg screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-xl-none\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>            <!-- Inline ads (xl screens) --><br \/>\n            &lt;!&#8211;<\/p>\n<div class=\"d-none d-xl-block\">\n<div class=\"g-pt-30 g-pb-30 text-center\">\n                    Not in use\n                <\/div><\/div>\n<p>            &#8211;&gt;<\/p>\n<p>Next on Armstrong\u2019s list of evaluation criteria was security:<\/p>\n<p>\u201c<em>Then we look at the cybersecurity of the crypto asset. Do we think there\u2019s some flaw in the smart contract, or a way that somebody could manipulate it without the customers\u2019 permission?<\/em><\/p>\n<p>\u201c<em>We look at some compliance pieces to it as well, like the actors behind it and any kind of criminal history and things like that. If we believe it meets our listing standards, basically this test of legality and everything for customer protection, then we want to list it because we want the market at that point to decide.<\/em>..<\/p>\n<p>\u201c<em>It\u2019s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it\u2019s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are<\/em>.\u201d<\/p>\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation | Lex Fridman Podcast #307\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/VBPTFlpv31k?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.cryptoglobe.com\/latest\/2022\/08\/coinbase-ceo-outlines-his-firms-review-process-for-adding-altcoins\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chief executive officer (CEO) for major crypto exchange Coinbase recently explained how his company decides which altcoins to add to the platform. Speaking in an interview with computer scientist Lex Fridman, Coinbase CEO Brian Armstrong said that the company begins by evaluating an altcoin\u2019s status as a security: \u201cWe basically have a test of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[1981,200,467,315,141,1523,1546,655],"class_list":["post-25192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-adding","tag-altcoins","tag-ceo","tag-coinbase","tag-firms","tag-outlines","tag-process","tag-review"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/08\/Coinbase-App-Starting-Up-768x432.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25192"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25192\/revisions"}],"predecessor-version":[{"id":25194,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/25192\/revisions\/25194"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/25193"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}