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   2639

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 CEO to Launch Charity Crypto Fund

At the moment, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong
28 June 2018   279

Brian Armstrong, co-founder and CEO of Coinbase, announced the launch of a charitable cryptocurrency fund called GiveCrypto. Armstrong plans to attract $ 1 billion in the next two years. This is reported by Brian himself via Twitter.

According to Armstrong, having managed to earn big money on bitcoin and other crypto-currencies, community members should help the needy all over the world, and not position themselves as cool guys in Lamborghini. This will help to open new scenarios for the use of cryptocurrency, and, undoubtedly, will promote its further popularization.

He also noted that donations in the cryptocurrency can reach people directly, eliminating the likelihood of corruption and abuse.

Cryptocurrency is unique in that it can be used to send small amounts of money anywhere in the world, in real-time directly to an individual in need — they just need a mobile device with an internet connection. With distribution of aid to foreign countries, high fees and corruption are unfortunately common; cryptocurrency is a way of circumventing both.

Brian Armstrong

CEO, Coinbase

To date, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong. Also reported that the contribution of more than $ 1 million was made by the executive chairman and co-founder of Ripple Chris Larsen.

Other contributors are Chinese mining giant Bitmain and venture capitalist Fred Wilson; they contributed more than $ 100,000 each.

GiveCrypto plans to start helping those in need after the amount of donations reaches $ 10 million, but the long-term goal of the fund is $ 1 billion over the next two years.