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Coinbase Unveils Listing Roadmap in a Bid to Promote Transparency

Published 04/12/2023, 04:11 AM
Updated 04/12/2023, 04:30 AM
© Reuters Coinbase Unveils Listing Roadmap in a Bid to Promote Transparency
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  • Coinbase (NASDAQ:COIN) introduces a comprehensive listing roadmap to enhance transparency and reduce insider trading in the cryptocurrency exchange space.
  • The roadmap outlines the evaluation process for new coins, including technical assessments, team evaluations, and market liquidity reviews.
  • Coinbase’s efforts aim to instill confidence in users, with Virtua (TVK) and Dimo (DIMO) as upcoming listings.

In an effort to enhance transparency and reduce insider trading, Coinbase, a leading cryptocurrency exchange, has introduced a comprehensive roadmap outlining its plans for new asset listings. This move is part of the exchange’s ongoing strategy to expand its range of tradable assets and to serve as a bridge between retail customers and Web3 technology.

Coinbase’s roadmap seeks to provide transparent information about the exchange’s listing procedure, thereby mitigating the risk of insider trading. The issue of insider trading, where privileged individuals exploit non-public information for personal gain, is prevalent in both traditional financial markets and the cryptocurrency space.

The roadmap outlines the steps Coinbase takes to evaluate and review new coins before they are listed on the platform. This includes a technical analysis of the coin’s code, an evaluation of the team’s track record, and a review of the coin’s market liquidity and trading volume. By providing such transparent information, the exchange aims to instill confidence in its users and discourage unfair trading practices.

Cryptocurrencies included in Coinbase’s roadmap are subject to the company’s strict internal review process, which means they have a higher chance of being listed. However, the announcement notes that these assets are not supported until an official listing announcement is made. Furthermore, it added that some coins on the roadmap might be removed or not listed at all, depending on various factors.

The California-based company is set to add two new altcoins, Virtua (TVK) and Dimo (DIMO), to its platform in the coming weeks. Following the announcement of the listings, TVK’s price increased by 4.5%, while DIMO’s price soared by more than 50%.

The post Coinbase Unveils Listing Roadmap in a Bid to Promote Transparency appeared first on Coin Edition.

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