Kraken Mocks Coinbase Considering Various Coins, Says It’s “Contemplating” 1,600

Francisco Memoria
  • Crypto exchange Kraken recently mocked Coinbase's announcement claiming it was considering five different cryptocurrencies.
  • Kraken commented on Twitter it was making a big revelation, as it was "contemplating the exploration of maybe adding" 1,600 coins.

Popular cryptocurrency exchange Kraken has recently decided to sarcastically mock leading US-based exchange Coinbase over its announcement that it is “considering” adding five different cryptocurrencies.

As CryptoGlobe reported, Coinbase recently announced it’s looking into Cardano (ADA), the Brave browser’s Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). The company at the time revealed:

We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.

Coinbase

This, presumably, because of the Bitcoin Cash listing fiasco that saw various users accuse Coinbase of insider trading, as the cryptocurrency’s price pumped shortly before an official announcement revealed it was getting listed on the exchange was published.

Regarding the five tokens, Coinbase emphasized it hasn’t yet received approval from regulators in the US to list these tokens, as some may be considered securities. As covered, US Securities and Exchange Commission (SEC) chairman Jay Clayton only clarified decentralized cryptocurrencies like bitcoin and ethereum aren’t considered securities.

Responding to Coinbase’s announcement, Kraken sarcastically claimed it was contemplating adding 1,600 cryptocurrencies.

Notably, most investors and analysts reacted positively to Coinbase’s approach, as this way it stopped insider trading from happening. Nevertheless, all five cryptocurrencies it mentioned recorded double-digit gains, as getting listed on Coinbase means their liquidity surges, and that they will be purchasable with fiat currency.

Whenever Coinbase lists new tokens, the whole crypto ecosystem is set to benefit from added exposure. While Kraken’s humorous response was well-received, it’s worth pointing out Coinbase’s efforts with regulators are costly, but will help the market.

Kraken itself is a somewhat controversial cryptocurrency exchange. Late last year it struggled to cope with the demand created by the ecosystem’s massive bull run, and was later on accused of allowing Tether’s USDT to be used on it to manipulated BTC’s price. As covered, the exchange fought back.

Its CEO, Jesse Powell, claimed in April it wasn’t going to comply with the “insulting” probe brought forth by New York’s Attorney General Eric Schneiderman, which was comprised of a 34-point questionnaire, and had to be answered in little under two weeks. Recently, the exchange pulled out of Japan over the growing costs of their business in the country.

Samsung to Add Crypto-Powered Streaming Service to 75 Million Devices

Michael LaVere
  • Samsung is pre-installing the crypto-powered streaming service Theta.tv into all new Galaxy S20 smartphones.
  • Theta.tv allows users to earn and share crypto tokens through their gaming and esports-centered platform. 

Samsung is embedding the blockchain-powered Theta.tv streaming service into its line of Galaxy smartphones. 

According to a press release published May 19, Samsung has partnered with Theta.tv to bring the gaming and esports streaming service to its lineup of Galaxy smartphones. The streaming platform is powered by the Theta token and blockchain and will enable millions of Samsung phone users to have direct access to their gaming-centered content. 

The release claims the service will be embedded within the Samsung Daily interface that is pre-installed on all new Samsung S20 smartphones in the United States. In addition to the S20, the update will also be applied to the Galaxy S10, S9, Note 10 and Note 9, encompassing a userbase of more than 75 million devices worldwide. 

Mitch Liu, co-founder and CEO of Theta Labs, said in the release,

We believe this commercial product launch is a critical inflection point in the adoption of the Theta Network globally. Our groundbreaking approach to streaming is a perfect fit for Samsung’s worldwide user base. It’s a huge step toward our goal of making Theta a global infrastructure for video content and data delivery.

Theta.tv allows users to earn tokens, dubbed TFUEL, for watching and sharing streams on the platform. Users can also transfer tokens through the service or trade them on crypto exchanges.

Featured Image Credit: Photo via Pixabay.com