Top US crypto exchange Coinbase says it’s open to supporting any legitimate proof of work (PoW) fork of Ethereum (ETH) after the highly anticipated Merge slated for September.
Coinbase says that it wants to look at each future Ethereum fork on an individual basis.
“Coinbase is committed to fully supporting the upgraded Ethereum PoS (proof of stake) chain following The Merge.
At Coinbase, our goal is to list every asset that is legal and safe to list. We will evaluate any ETH fork tokens following The Merge on a case-by-case basis in alignment with our standard asset listing policy.
Rest assured, all potential forked tokens of Ethereum, including PoW forks, will go through the same strict listing review process that is done for any other asset listed on our exchange.”
Late last month in an interview with Lex Fridman, Coinbase CEO Brian Armstrong said that the crypto exchange’s goal was to ultimately list as many tokens as possible, as long as they met the company’s standards as far as security, compliance, and the actors behind projects.
“We look at some compliance pieces to it as well, like the actors behind it and any kind of criminal history and things like that. If we believe it meets our listing standards, basically this test of legality and everything for customer protection, then we want to list it because we want the market at that point to decide.
It’s kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, it’s probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are…
My belief is there’s gonna be millions of these assets over time, and so I hope it doesn’t make news every time we add one in the future, basically.”
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