Coinbase Focusing on Token Addition, Not IPO, Is Good News for Users-5.2

Coinbase, Cryptocurrency Exchanges–Coinbase has had an interesting news cycle over the last several days. Reports coming out earlier in the week and last had it that the company was planning an Initial Public Offering (IPO), a move that has long been rumored to occur but thus far gained little traction. On Oct. 30, Bloomberg reported that the company was on pace to bring in $1.3 billion in revenue despite 2018 being a near continuous down year for cryptocurrency, a figure that magnifies just how profitable both the industry and well-established exchanges can be (Binance is also projected to rake in over a billion). With the slumping crypto market for Bitcoin and altcoins taking a stranglehold on development for the industry, Coinbase has continued to capitalize on the tug of war in pricing, while doing little in the interim to improve its product.

Now, the company is at least giving the appearance that the lack of coin addition is coming to an end. Since announcing in July that the company was exploring five new cryptocurrencies–Cardano, Stellar, Basic Attention Token, 0x and Zcash–the exchange has managed to only list 0x, with no updates on whether the other coins will still be added to the exchange or a timetable on such on a development. While the spectre of the December 2017 Bitcoin Cash debacle is still looming heavy over the exchange, one which produced class action lawsuits that are still being acted upon by courts, Coinbase has been alarmingly slow in responding to the number one request by its 13 million plus userbase: the addition of more altcoins to compete with the offering of exchanges like Binance, Bittrex, etc.

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