Get Your Popcorn: Kraken Trolls Coinbase
In the crypto world, sometimes it’s hard to tell whether people are at war or just poking fun at the others’ expense. The situation with two exchanges Kraken and Coinbase is similar: following Coinbase’s announcement of adding five new coins - which caused their prices to skyrocket - Kraken decided to mock Coinbase.
Coinbase announced its plan to integrate Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX). However, they emphasized that the company has not received the approval from regulators, including the US Securities and Exchange Commission, and that the announcement was released to publicly express the company’s intent towards integrating the five digital assets.
Kraken answered with a mocking tweet:
Exciting and important revelation for the community today. Kraken has been contemplating the exploration of maybe adding over 1600 new coins, pending the outcome of our highly sophisticated review process. For a glimpse of the possibilities: https://t.co/dmfd5yr48s— Kraken Exchange (@krakenfx) July 14, 2018
Perceived as a reply that just expressing your intent to integrate tokens is far from enough - or worthy of a big announcement - the community finds Kraken’s move pretty funny. However, one Twitter user points out that the last time Coinbase added a coin “in secret” - meaning without a big announcement - they got accused of insider trading - the case of Bitcoin Cash. And while Coinbase’s announcement may not mean anything for now, if they do gain regulator approval to list these coins, the way for other exchanges to do the same will be open as well.