A Financial Times report has revealed that Coinbase has listed up to 20 cryptocurrencies without revealing that it was holding a financial position in those assets.
Coinbase listing pushes value of assets it has financial interest in higher
According to the report, a newly listed coin tends to see its price-performance surge on its listing day; however, in the long run, the asset tends to perform poorly against the two leading digital assets, Bitcoin and Ethereum.
Citing the example of the Decentralized Social token (DESO), which was created by Nader Al-Naji. DESO had tried to game the public into believing that it had just raised $200 million from investors like Andreessen Horowitz and Coinbase Ventures.
But this was not true, as venture capital firms contributed less than half of the project funds; the rest came from retail buyers and industry insiders.
Upon its listing on Coinbase, it was revealed that the asset’s price more than doubled and briefly touched as high as $187. This
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