Coinbase Slammed for Pushing and Listing High-risk ‘Shitcoins’

The crypto community slammed centralized crypto exchange Coinbase for offering various cryptocurrencies considered as shitcoins. This issue arose when some crypto analysts noticed the rising number of high-risk tokens being listed on the exchange. Hence, making the community wonder about the listing policies and marketing strategies of Coinbase.

This made some crypto analysts react in a post over this matter,

The tweet created by Bitcoin Enthusiast Sam Callahan gathered different opinions and emotions across the Twitter space. Some agreed while others expressed their own thoughts about the issue.

Despite the criticism that the exchange received, Coinbase continues to rank as one of the top 3 exchanges in CoinMarketCap. It has a huge market cap of more than $2.3 billion and has an average weekly visit of over 2 million. This performance is proof that the exchange is continuously supported by investors and traders globally.

Regardless, crypto exchanges such as Coinbase will keep on operating its platform despite the challenges they face every day. Therefore, it is up to the users to decide what kind of exchanges they will choose. However, it is recommended to do in-depth research prior to engaging in crypto assets. This way, traders and investors can avoid losses that cannot be reversed.

On the other hand, the king of crypto assets, Bitcoin remains to be the number one crypto traded despite the highs and lows of the market. At the time of writing, BTC trades at a decent price below $40K with a huge market capitalization of nearly $600 billion. It has a 24-hour trading volume of over $34 billion.