Coinbase to Label Some Assets as ‘Experimental’ in Bid to Boost Transparency
Traders on Coinbase can now see which tokens have added risks.
Mar 7, 2022 at 8:52 p.m. UTCUpdated May 11, 2023 at 3:59 p.m. UTC
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Cryptocurrency exchange Coinbase (COIN) has unveiled its “experimental” label that will be applied to those assets either new to the platform or with relatively low trading volumes.
- “Our goal is to be as transparent as possible with our customers regarding trading risks,” said Product Manager Ishan Wahi in a blog post on Monday. “We are introducing a new experimental label on asset pages and a disclosure when executing trades for some assets.”
- Wahi notes that Coinbase expanding offerings at such a fast clip means more newly created assets and added risks, such as higher price swings and order cancellations.
- The new label won’t impact customers' ability to send, receive, buy, sell and/or hold assets on Coinbase, the company said.
- In a tweet on Monday afternoon, Coinbase said that Aergo (AERGO), Aioz Network (AIOZ), Ethernity Chain (ERN) and Status Network (SNT) would all be labeled as "Experimental."
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UPDATE (March 8, 18:40 UTC): Updated with details of first assets to labeled as experimental in last bullet point.
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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.