Coinbase, one of the largest cryptocurrency exchanges, has made new announcements for some altcoin projects. New additions have been made to the roadmap of coins that Coinbase plans to list. The exchange listed one coin directly. Here are the details…
Coinbase updated its roadmap
Cryptocurrency exchange Coinbase announced a new addition to its roadmap in one of its most recent announcements. Roadmap is a service provided by Coinbase to ensure transparency and information symmetry in the crypto community. The exchange announced that it has added MultiversX (EGLD) to its roadmap, in a statement made at night today. This coin is the rebranding of Elrond.
https://twitter.com/CoinbaseAssets/status/15930030021570830338
MultiversX, aka Elrond, is a blockchain protocol that aims to offer high transaction speeds using sharding. The project describes itself as a technology ecosystem for the new internet that includes fintech, decentralized finance and the Internet of Things (IoT).
Exchange announces support for Lido DAO (LDO)
On the other hand, the exchange announced its support for the Lido DAO (LDO) on the Ethereum network (ERC-20). Trading for LDO will be opened in the evening today when liquidity conditions are met. Once there is sufficient supply in the asset, trading on the LDO-USD trading pair will begin gradually.
Trading will begin on or after 9AM PT on 17 November 2022, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our LDO-USD trading pair will launch in phases. Support for LDO may be restricted in some supported jurisdictions.
— Coinbase Assets (@CoinbaseAssets) November 16, 2022
Avalanche (AVAX) will be available to users in Japan
Finally, the exchange announced that users in Japan will be able to access Avalanche (AVAX). Users in Japan will now be able to buy, sell, send and receive this asset on Coinbase. They can also be stored.
The latest developments for Coinbase
Meanwhile, the stock market is trying to avoid FTX and the crashing sentiment surrounding it. Leading exchange Coinbase has stated that it has a “strong capital position” amid market turmoil due to the chain reaction of events that followed the recent collapse of FTX. As we previously reported, the platform, which announced that it suspended operations yesterday, clarified that it has no exposure in Genesis.
2/ We won’t comment on every event in crypto, but for the sake of clarity: Coinbase has zero exposure to Genesis Trading.
— Coinbase (@coinbase) November 16, 2022
The exchange tweeted its document explaining its approach to transparency, risk management and consumer protection to remind them of its safeguards against crashes. He said his priority is to promote a safe, responsible crypto economy and protect his customers. Coinbase published its document on November 8. He shared it on Twitter on November 16.
The document explains why there can be no “bank rush” on Coinbase. It reveals the bank’s capital position and gives details about its risk team. Also, Coinbase says it avoids the risk of illiquidity by holding client assets 1:1 and backing all corporate loans with collateral. In terms of capital, Coinbase currently has $1.5 billion in assets.
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