Coinbase rises after token platform launch is confirmed
Coinbase shares jumped early Monday, after The Wall Street Journal confirmed rumors about it launching a new site offering retail traders access to “token offerings” reminiscent of the “intial coin offering” craze from a few years back.
After soaring between 2016 and 2018, the ICO market imploded amid a “collapse in crypto prices, along with the rampant fraud,” that “led to regulatory scrutiny and a drastic decline in token offerings in the following years,” the Journal reported.
The new site from Coinbase, however, will “provide users with a more professional, safer way to buy new tokens. It will feature investor-protection mechanisms that discourage quick profit-taking and prevent immediate token dumping by project founders,” company officials told the Journal.
The new site from Coinbase, however, will “provide users with a more professional, safer way to buy new tokens. It will feature investor-protection mechanisms that discourage quick profit-taking and prevent immediate token dumping by project founders,” company officials told the Journal.
