GDAX released a criteria system for new coins listing

GDAX Digital Asset Framework will help GDAX team to evaluate a cryptocurrency before adding it to the listing
03 November 2017   3103

The GDAX Cryptocurrency Exchange (part of Coinbase) has developed a set of principles according to which new coins will be selected by the site management for further listing.

In a document called the GDAX Digital Asset Framework, the exchange management listed the criteria that crypto assets must meet before adding to he exchange.

In particular, the administration of the exchange will assess whether a particular asset of the mission corresponds to the values ​​of GDAX, and whether it falls within the scope of the requirements of the federal securities legislation. Also, the administration will take into account:

  • the developer's reputation
  • the ethical standards of the project team,
  • examples of real use of the crypto currency,
  • the openness of its source code,
  • various security aspects,
  • the volume of trades and
  • capitalization,
  • user support,
  • the size of commissions for transactions,
  • and more.

Customers often ask us how we decide which assets to support. By sharing this framework we hope to improve transparency and highlight the factors we evaluate when considering which new assets to support on GDAX.
This framework is not intended to be a definitive methodology, investment advice, or a commitment to support any specific asset. As the technology, use cases, and regulatory environment evolve, so too will this framework. We are committed to supporting more assets, but our priority is always to protect customer funds and comply with regulatory requirements.
 

Adam White
Head, GDAX

 White also added that next year GDAX will add support for several cryptocurrencies.

It should be noted that to date, GDAX has maintained an extremely conservative position in the issue of adding new crypto assets to the platform. So, at the moment the exchange supports only three "top" crypto-currencies: Bitcoin, Ethereum and Litecoin. GDAX is 7th largest cryptocurrency exchange in the world.

Coinbase Capitalization to Exceed $8B

Another financial round, headed by  Tiger Global Management, brought $300M to the company
30 October 2018   146

The American cryptocurrency company Coinbase raised $ 300 million in the framework of a round of financing for the E Series, which was led by the American hedge fund Tiger Global Management. Y Combinator Continuity, Wellington Management, Andreessen Horowitz, Polychain and other companies took part in financial round too.

Thus, according to the company's estimates, its capitalization has already exceeded $ 8 billion, and the annual profit at the same time, according to Bloomberg, may be about $ 1.3 billion.

Coinbase intends to use funds for global expansion, expansion of listing, development of various utilitarian applications and attraction of institutional institutions to the industry.

Company became the first unicorn in the cryptocurrency sphere after the closing of the round of financing for the Serie D in August 2017.

Earlier in the media it was reported that Coinbase could enter the IPO after another investment.