Coinbase Updates: Clapback to Robinhood?
Coinbase Updates: Clapback to Robinhood?
Coinbase is one of the most popular blockchain marketplaces in the United States. Operating from San Francisco, CA, Coinbase has been wildly successful over the past few years in being the first market-mover for FIAT to crypto assets. With the recent news of Robinhood announcing fee-less crypto trading, Coinbase released two pivotal moves that would help them stay competitive in this market.
Coinbase Early-Stage VC Funding
Coinbase announced a new incubator fund for early-stage startups in blockchain technology. “We’re going to invest off our balance sheet into crypto companies,” stated Coinbase President and COO Asiff Hiriji. The initial fund is slated for $15 million and will be strategized to grow. Coinbase had already made seed-stage investments and will help companies develop and ship product. These companies would not be limited to utility tokens or other marketplaces, which is interesting from Coinbase’s stance. “You may also see us invest in companies that ostensibly look competitive with Coinbase... we’re taking a long term view of the space, and we believe that multiple approaches are healthy and good.”
Coinbase Now Honors Forking
Referring to this blog post, Coinbase announced that any present and upcoming Bitcoin forks will be honored in Coinbase. This will mean that both Coinbase and Gdax marketplaces will have the infrastructure to support deposit and withdrawal of Bitcoin-forked assets, as well as support future Bitcoin forks. Coinbase seemed to have learned the drawbacks of the Bitcoin Cash fork that occurred last year, where users were not honored the 1 BCH: 1 BTC fork on Coinbase/Gdax.
Marketplaces like Coinbase provide huge utility for traders to invest while also having a revenue model based on each transaction. With the news put out for Coinbase, it shows that they are willing to invest back into blockchain technology and be more user-friendly when it comes with forking. It will be a wild year for exchanges to develop new products and principles in order to stay ahead in the game.
Cheers,
The Blockchain Musketeers
The Tree of Life, or Etz haChayim (עץ החיים) has upvoted you with divine emanations of Gods creation itself ex nihilo. We reveal Light by transforming our Desire to Receive for Ourselves to a Desire to Receive for Others. I am one of the 10 attributes/emanations part of the Curator Guild (Sephiroth), through which Ein Sof (The Infinite) reveals Itself.