0x [ZRX] Token Listing On CoinBase Exchange Is Causing Heaps Of Conflicts.

0x [ZRX] Token Listing On CoinBase Exchange Is Causing Heaps Of Conflicts.

2018-10-24 | Selina Mathew

0x [ZRX] Token Listing On CoinBase Exchange Is Causing Heaps Of Conflicts.

Coinbase Exchange’s recent listing of 0x [ZRX] token has caused heaps of speculation and conflict of interest due to the involvement of members along with the events leading up to the listing of the ZRX token among four potential tokens.

This conflict of interest arises after a recent report by a news portal ‘The Block,’ that confirmed a direct link between the token listing framework in 2017 along with an investment fund ‘Scalar Capital’, that invested within the public sale of  0x [ZRX]. ZRX was listed on Coinbase exchange after a month later.

Additionally, Linda Xie and Jordan Clifford, founders of Scalar Capital, were former staff at the Coinbase Exchange. Moreover, Linda Xie is married to the co-founder of the 0x [ZRX] project, Will Warren. 3 out of 5 advisers of 0x project were the staff of the Coinbase exchange.

The association between Coinbase and Scalar capital is bridged by Maksim Stepanenko, an engineering manager at Coinbase exchange. Maksim was linked within the development of the token-listing framework along side Xie. In line with the pitch deck obtained by The Block, Scalar capital possesses “asymmetric information” and “early access to the projects”.

Earlier in July 2018, Coinbase thought to list extra tokens to their listing including Cardano [ADA], Basic Attention Token [BAT], Stellar Lumens [XLM], Zcash [ZEC] and 0x [ZRX]. Coinbase’s discretional listing of ZRX earlier than XLM and ADA makes no sense and there have been several queries and speculations regarding this collusion. ZRX had been commercialism outside the top twenty five token list by market cap before its listing and being a pre-minable token, the community is unsure if it may get affirmation from the SEC as a utility token.

Coinbase, above all, faced heaps of speculation once it came to the listing of tokens on its exchange. The listing of Litecoin [LTC] back in the month of April last year caused quite stir because of conflict of interest, because the project was developed and listed by Charlie Lee

Litecoin [LTC] was the third token to be listed on Coinbase back in Gregorian calendar month 2017. This call raised quite few eyebrows and media loud conflict of interest due to the very fact that Charlie Lee was the developer of LTC and helped list his coin since he was still at Coinbase under the post of Director of Engineering.

Bitcoin Cash [BCH] did one thing similar in Dec 2017. Post listing, the price of the coin skyrocketed and came to a halt once the Coinbase decided to halt the transactions amidst the investigation of attainable insider trading by the staff.

At the reporting time, 0x [ZRX] is trading at a price of $0.865 USD which is 2.33% lower than yesyerday. 0x [ZRX] Token Listing On CoinBase Exchange Is Causing Heaps Of Conflicts.

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