Coinbase updates coin upload policy to allow ‘new coins to go live’

Coinbase will allow newly issued digital assets to go live on the trading platform in the future, i.e. starting “new coin” launches.

Coinbase updates coin upload policy to allow 'new coins to go live'

On May 13, Coinbase held its first quarter earnings conference, where CEO Brian Armstrong revealed a change to its uplisting policy, which will allow newly issued digital assets to go live on the trading platform in the future, i.e. the start of a “new coin” uplisting (Rhythmic Note: This can be interpreted as an “IE0” model).

Currently, the company evaluates cryptocurrencies based on the security of the digital asset and whether it could be considered a security. This is the first time that the exchange executives have said that they will go live with new tokens without the cryptocurrency having traded in volume yet.

Brian Armstrong said: “We’re going to have to do that in the future – be one of the first companies to go live with these new tokens. He added that the trading platform is currently dealing with a large backlog of launch requests and is accelerating the process of going live.

As previously reported by Rhythm, at Coinbase’s Q1 earnings meeting, Coinbase announced Q1 2021 financial information, with single-quarter revenue of $1.8 billion and net income of $771 million, both well ahead of Q4 2020. coinbase stock was up 3% at one point during trading on May 14.

On the revenue side, Q1 2021 ($1.8 billion) was up over 200% from Q4 2020 ($585 million). Net income is up more than 300% in Q1 2021 ($771 million) compared to Q4 2020 ($177 million). At the same time, Coinbase has 6.1 million monthly active users in Q1 2021, up 117% from Q4 2020 (2.8 million). Coinbase currently has 56 million registered users.

Coinbase went live on Nasdaq in April with an opening price of $381 USD and is currently trading at $265 USD with a total market cap of $52.1 billion.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/coinbase-updates-coin-upload-policy-to-allow-new-coins-to-go-live/
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