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Coinbase Considers Launching Platform for IEO (Initial Exchange Offering)

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    Following the example of its faster-to-act rivals, such as Binance, Coinbase considers offering its customers a platform for initial exchange offerings (IEO)

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The major US-based crypto exchange Coinbase is eyeing an opportunity to dive into the new area – Initial Exchange Offerings (IEO), as per the recent CoinDesk article.

The article cites the chief of institutional sales at Coinbase, Kayvon Pirestani, who says that Coinbase is eyeing not only the area of IEO but also considers making a platform for security token offerings (STO).

However, no official announcements have been made so far. 

IEOs on other platforms

At present, token sales in the form of IEO are offered to customers by such platforms as Binance, OKcoin, Bitfinex and Kucoin. Coinbase seems to be interested in joining this line of headliners.

IEO is a crowdfunding method similar to ICO that was extremely popular two years ago. However, in the case of IEO, an exchange that conducts it provides a sort of a guarantee regarding the project by studying its whitepaper, etc, before offering it to investors.

These sales on exchanges are carried out with the help of a native token that is often issued for this particular purpose. On Binance, BNB is mostly used. This adds liquidity to the native coin of the platform.

When conducting an IEO, an exchange takes care of KYC and AML procedures regarding the startup allowed to sell its tokens to investors.

As per CoinDesk, Coinbase may release a token sale platform within a few months, as well as a venue for regulated securities.

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The most recent IEO on Binance

The token sale that was held on Binance recently was that for the Band project, along with a 300,000 BAND airdrop from the platform itself. 

The exchange started making IEOs in the form of regular token sales but later on, it introduced a lottery system, when investors receive lottery tickets depending on their BNB balances and trading volumes.

Usually, Binance conducts an extra airdrop for those whose lottery tickets are not winning ones.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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