Coinbase Custody to Receive Trust Charter

The new organization will provide services for the qualified storage of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic and XRP
24 October 2018   911

Coinbase, the leading US crypto exchange, received approval from the New York Department of Financial Services (NYDFS) to establish the Coinbase Custody Trust Company LLC custodial unit. The new organization will provide services for the qualified storage of Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic and XRP.

Inclusion of XRP tokens in this list is noteworthy: rumors about their likely addition to Coinbase have been around for quite a long time, but officially neither the exchange nor the wallet support them.

Coinbase Chief Operating Officer and President Asiff Hirji spoke positively about the decision and called the NYDFS "a supporter of the responsible growth of the cryptocurrency industry."

Coinbase is awaiting regulatory approvals of several more new services. So, in June, the exchange announced its intention to obtain a broker's license, a license for alternative trading systems, as well as a license to provide financial advisor services.

Earlier, NYDFS was approved by BitGo and the Prime Trust for providing qualified cryptocurrency storage services.

Coinbase to be Ranked 1st at New CryptoCompare's Rate

New exchange's benchmark is designed to combat fake trading volume on unregulated exchanges
13 June 2019   185

Analytical service CryptoCompare has launched a rating system for more than 100 platforms for the spot cryptocurrency trading. According to service representatives, it should be a comprehensive, detailed and reliable source of information, and meet the industry’s demand for data transparency.

CryptoCompare combined methods of quantitative and qualitative analysis. The system does not take into account the total trading volume, but the ratio of volume and volatility in combination with the standard deviation of volumes based on more than 30 metrics. In theory, this will help to deal with the problem of fake trading volume on unregulated exchanges.

After analyzing the data for May, the service assigned the first place to the Coinbase, and the top three were closed by Poloniex and Bitstamp. Top 10 also includes BitFlyer, Liquid, itBit, Kraken, Binance, Gemini and Bithumb.

It is noteworthy that this rating is somewhat different from the list of trusted exchanges of Bitwise Asset Management, which in March reported to the US Securities and Exchange Commission (SEC) about the problem of fake trades. Thus, Bitwise considers Bittrex and Bitfinex to be reliable, but they are not in the top ten from CryptoCompare - instead of them, South Korean Bithumb, which was hacked twice during the year, and Liquid, which announced the upcoming listing of tokens Gram, which supposedly don't know anything about in Telegram .