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Coinbase desmiente rumores de integración del Ripple, y la cotización del mercado del mismo baja $22 mil millones

La plataforma popular de intercambio y monedero Coinbase ha desmentido rumores recientes de que el Ripple (XRP) u otras criptomonedas pronto serán integradas a la GDAX, su sitio principal de intercambios digitales.

Anulando rumores

El CEO Brian Armstrong declaró firmemente que ni Coinbase ni la GDAX han tomado una decisión sobre integrar alguna criptomoneda o activo digital a corto plazo. La compañía dijo en una entrada en su blog:

“Un comité de expertos internos es responsable de determinar si se añadirán nuevos activos a la plataforma y cuándo, de acuerdo con nuestra estructura. Estos individuos (y todos los empleados en Coinbase) son objeto de confidencialidad y restricciones de comercialización.. Hasta el día de esta declaración, todavía no hemos tomado una decisión sobre agregar otros activos a la GDAX o a Coinbase. Cualquier declaración contraria es falsa y no autorizada por la compañía.”

La declaración de Coinbase fue emitida siguiendo una oleada de rumores no verificados de que la GDAX estaba planeando integrar XRP. La escala de rumores, los cuales circularon grandemente en Reddit y Twitter, creció hasta el punto en el que la compañía sintió la necesidad de refutarlos, en vista de que surgió el precio del XRP.

Inmediatamente después de que Coinbase emitiera su declaración, el mercado de valor de XRP bajó de más de $148 mil millones a $126 mil millones.

Gráfico de Ripple

Controversia de comercialización interna

Es muy poco probable que Coinbase y la GDAX integren cualquier clase de activos nuevos hasta que puedan estar seguros de prevenir filtraciones. A principios de diciembre, cuando Coinbase añadió el Bitcoin Cash, un empleado de la compañía o un contratista aparentemente reveló la integración dos días antes del anuncio oficial.

Coinbase recibió una reacción violenta y críticas por parte de la comunidad de la criptomoneda y, como consecuencia, Armstrong prometió hacer una investigación completa al respecto. El CEO dijo que Coinbase tomaría acciones legales contra el empleado o contratista que emitió la información confidencial.

De esta misma manera, la declaración reciente de Armstrong y los rumores alrededor de la integración del Ripple a Coinbase también fueron criticados por algunos de los expertos más prominentes de la comunidad. Estos incluyen al ingeniero de software Pierre Rochard, y el ingeniero líder de BitGo, Jameson Lopp:

No hemos hecho ninguna decisión para agregar nuevos activos a Coinbase o GDAX hasta el momento. Cualquier declaración contraria es falsa. ¡Sed cuidadosos con lo que creéis por ahí!

Todavía no hay nuevos activos

La investigación de la controversia del Bitcoin Cash todavía está en proceso, y mientras no termine, es altamente probable que Coinbase no lleve a cabo la implementación de otras monedas digitales. El CEO de la compañía admitió que algún movimiento interno parecido a comercialización fue descubierto en el mercado de intercambio global de Bitcoin Cash anterior al listado de Coinbase.

El 20 de diciembre, Armstrong escribió:

“Dado el incremento del precio en las horas que precedieron al anuncio, estaremos conduciendo una investigación en este respecto. Si encontramos evidencia de que algún empleado o contratista violó nuestras políticas, directa o indirectamente, no vacilaré en despedirlo de inmediato y tomar las acciones legales apropiadas.”

El antiguo ejecutivo de Coinbase, Charlie Lee, también declaró:

“Coinbase no estará añadiendo ninguna moneda por lo pronto. No hay razón para que mientan sobre esto… Especialmente después de las críticas que recibieron por sorprender a todos al agregar BCH.”

Coinbase

Coinbase and Two US Giants Invest in Hong Kong Crypto Startup

The firm has been offering services such as providing loans, electronic market trading, financial management, OTC trading, etc. to all institutional investors

In recent years, we have seen a lot of buzz for the Crypto market in Asia. Reportedly, 80% of the total Crypto trading is done from Asia. As a result, investors are aiming to plunge into the Asian market for profit-making.

Top US Crypto investors, Pantera Capital, Polychain, Paradigm, Coinbase, and Fenbushi Capital made a piece of great news when they decided to jump to an opportunity to invest in Hong Kong Crypto trading company, Amber. Investors have made a big announcement that they would pour $28 million into Amber.

In 2015, 4 Morgan Stanley traders and 1 Bloomberg engineer decided to start an Artificial Intelligence startup to trade Chinese Stocks and securities. They name the company as Amber AI. 

In Summer 2017, they decided to divert their attention to Crypto trading when they found a huge arbitrage opportunity. Although their total profit was in single-digit million dollars, Amber made gains of 100% to 200% between October 2017 to December 2017. 

Surprisingly, in 2018, when BTC rate fell from $7800 to $3800 (Approximate figures), Amber made a huge profit of $50 million with 40% return rates. They eventually decided to stop their focus on Artificial Intelligence and removed that AI from their venture name.

Over the past few months, since Amber switched its total attention to Crypto trading, the firm has been offering services like providing loans, electronic market trading, financial management, OTC trading, etc. to all the institutional investors. 

As per one report, Amber generated revenue between $10 million to $20 million in 2019. Tiantian Kullander, the CFO of the Crypto startup, aims to double the revenue generation in 2020.

Amber with 105-employees in Hong Kong creates a lot of opportunities. Firstly, they are sitting native to the top Crypto giants namely the Binance of Singapore, Huobi of Beijing, Bitmex of Hong Kong. 

Secondly, unlike the US government, the Hong Kong government does not count Cryptocurrency as a security asset. As a result, Amber’s clients are can trade more than 700 coins on up to 30 Crypto exchanges as compared to 30 digital assets in the US.

For now, as per Kullander, the Coronavirus has created a downside in Asia. As a result, Amber’s current employees are working from home. Coordination and visiting clients have considerably reduced. 

Reportedly, this has not reduced the revenue of the startup. Kullander commented on the situation. He said,

“The beauty of Crypto trading is its 24*7 availability. You can sit at home and run your investment regime.”

Arjun Balaji, an investment partner at Paradigm, said that they were quite positive about investing in Amber. As per him, Amber has a good potential to earn good profits in the coming months. A world-class team combined with a sophisticated approach made them become a partner with the Hong Kong Crypto startup.

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Coinbase

Coinbase Users Keep Their Funds on the Exchange for far too Long

The concept of buying cryptocurrency and storing it on exchanges has been problematic for some time now. A recent chart shared on Twitter shows hat Coinbase users keep funds on the platform for far too long.

It is convenient when an exchange also lets users store funds on the platform.

COINBASE USERS NEED TO WAKE UP 

Especially for novice users, this seems like a logical approach.

In reality, it is one of the worst things anyone can do.

Funds stored on an exchange or other trading platform is not the property of the buyer or trader.

While it is linked to their account, they have no direct control over the money.

It is always better to withdraw funds as quickly as possible to a wallet the end user controls.

However, as far as Coinbase users are concerned, that message isn’t getting through.

They tend to hold certain currencies for well over 80 days in their account balances.

Only EOS, Tezos, and Stellar are withdrawn relatively quickly.

There is no reason to keep BCH, XRP, BTC, ETH, or LTC on Coinbase or any other platform for more than 10 minutes.

None of these currencies provide staking functionality, nor do they generate interest by other means. 

One can only hope that these statistics regarding Coinbase improve for the better as time progresses. 

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Coinbase, Pantera, Paradigm, and Polychain Invest $28 Million In Amber

As the crypto world continues to grow, Asia has taken great strides within it. As it stands now, a minimum of 80% of the world’s crypto trading is done within the Asian continent. As one would imagine, the Western crypto industries have borne witness to this new trend, very eagerly trying to dip their fingers in the pie.

Seeing Opportunity Where It Stands

The top crypto investors of the US, Paradigm, Pantera Capital, Coinbase, PolyChain, and Dragonfly have all taken part in this new venture opportunity. The companies have collectively sunk $28 million into Amber, a Hong Kong-based company with a valuation totaling in at $100 million.

Amber was founded back in 2015. Five bold twenty-somethings within Hong Kong, four of which former traders at Morgan Stanley, founded a company named Amber AI. Initially, the group focused primarily on AI algorithms to trade various securities, Chinese stocks included. However, the group quickly discovered the enormous volatility of crypto in during the 2017 year of the crypto bubble. There was a rife opportunity for arbitrage within that time, something that shocked even the Amber team. They were capable of buying BTC at $7,300, then proceeded to sell it for $7,700 on another exchange. The gain was pocketed, making a pleased trader.

200% Profit Instead of 0.01%

Tiantian Kullander, the CFO of Amber, fondly recalled the first time the team tried it out. They explained that they simply couldn’t believe what they were seeing. The Amber team had come from a primarily fixed income, bond trading market. Volatility was next to nothing, and Kullander explained that they had to fight for every basis point they earned in that market.

cme group

In contrast, Amar managed to gain 100% to 200% profits per month during the Crypto Bubble of 2017, during the months of October to December. Even so, Kullander states that they only managed to garner a total asset value within single-digit millions. An insurmountable amount of money, sure, but the global heavyweights wouldn’t even cough at that amount.

Green Pastures Ahead

Just last year, Amber managed to garner anything between $10 million and $20 million in revenue. The net profit margins were always above 50%, as well. Kullander aims to double this revenue numbers in 2020, he says. With that amount of cash injection, the company will have a good start. Amber has already proved itself a capable company, so the likelihood of it going under with even more of a funding injection is next to nothing.

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