Max Keiser Claims Coinbase Is Casino And Should Be Regulated As Such

Max Keiser claims that the leading crypto exchange Coinbase is actually a casino as some of the coins only exist to be listed on the platform. He thinks that the exchange should be regulated as a Casino as we read further in the latest Coinbase news today.

The leading US-based crypto exchange announced its new plans of exploring new altcoins and taking them under consideration for future listing on the platform. As a result, the prices of the altcoins spiked dramatically. Max Keiser says that some of the coins only exist to be listed on Coinbase. The exchange is the leading one in the United States and it has announced recently that it is exploring a new set of altcoins to get listed:

 “Coinbase’s goal is to offer support for all assets that meet our technical standards and which comply with applicable laws.”

In that case, once a cryptocurrency gets listed on a popular exchange, the price usually increases. Even though the altcoins that Coinbase plans to list are well known within the community such as DigiByte, Bancor, VeChain, Siacoin, and a few others which are not even listed on coinmarketcap. One of the more vocal reactions for the announcement came from Max Keiser who is a well-known commentator and trader. Max Keiser claims that Coinbase is technically a Casino and should be regulated as such as the company is still operating outside the CA law. He also believes that listing the coins that only exist to be listed there, contribute the fact to be seen as a casino.

.@coinbase, by listing phantom coins that exist only by virtue of being listed on Coinbase is technically a casino and should be regulated as such. The company is operating outside CA law.

— Max Keiser (@realmaxkeiser) June 10, 2020

Another Bitcoiner, also commented on the matter saying that the exchange is complicit in helping sophisticated Silicon Valley investors dump on low info retail investors. In the meantime, the exchange continued to experience outages during the Bitcoin price swings, and the last time this happened it was because of the increase in traffic. Over the past year, the American exchange has capitalized on the growth of the DeFi tapping into space and becoming a key market for some of the tokens. The exchange is taking this one step further by adding nine new Defi tokens.

The latest documents that emerged in the public that the largest US-based crypto exchange COinbase plans to sell blockchain analytics software or surveillance tools to the US government agencies, resulted in a response of 47% of users saying they will leave the exchange, according to the Twitter poll conducted a few days ago.