4 ms·
One difference is that Coinbase itself chooses the coins that are available for trading, whereas a stock broker just gives you access to shares traded on an exc
by pavlov 4y ago
One difference is that Coinbase itself chooses the coins that are available for trading, whereas a stock broker just gives you access to shares traded on an exchange.
I.e. Coinbase is both Schwab and NASDAQ for crypto. And they've certainly (ab)used this power by listing shitcoins that conveniently were owned by the same VCs that had invested in Coinbase itself.
Speaking of the SPAC loophole, that's being plugged by new SEC regulations. Crypto companies wouldn't be happy to have their tokens be under the same regulatory framework, but probably they should be.
- knaik94 4y agoI don't think that's a fair comparison in saying it's doing the job of both just because coinbase self regulates which coins it allows. Their markets and pairs are based on internal risk calculations. DOGE coin was allowed relatively late onto coinbase. Monero is still not supported on coinbase. Schwab does similar with penny stocks and you have to do an interview with a trader in order to be able to do naked calls/puts or advanced straddles as well as trade on margin. Schwab will help you make otc trades on penny stocks that aren't listed on the main exchanges. Not listing Monero is definitely not a good financial decision. That's the currency darknet markets are shifting to. Monero also crashed along with BTC and ETH, it doesn't look decoupled. And crypto markets haven't meaningfully decoupled from the securities market either.