TDLR:
- George Osborne joined Coinbase as the Global Advisor on January 31st.
- Coinbase is currently facing a lawsuit with the SEC over security law violations.
- Algotech (ALGT) emerges as a standout opportunity as the regulatory landscape is expected to clear up.
The largest US cryptocurrency exchange, Coinbase, announced the appointment of former British finance minister George Osborne, as their global advisor. The move came amidst increasing regulatory scrutiny on the platform. As a result of the announcement, the price of COIN, the native stock representative of the platform on NASDAQ, exhibited an upward trend. Today, the price of COIN is up 7.38% to reach 142.33.
Coinbase welcomed the development, with leader Brian Armstrong expressing hope that the move would help the exchange grow in the UK. Market analysts speculate that the move is meant to help the platform against its regulatory challenges.
The recruitment will have a positive impact on Coinbase's ties with regulatory bodies and will help the platform by lobbying for crypto-positive regulations. Coinbase is currently facing a lawsuit from the SEC about violating security laws but has denied the allegations.
These regulatory challenges have cast doubts over the platform's future, including the layer 2 BASE blockchain. Traders are looking for stable avenues to look beyond Coinbase to secure their investments. The exchange has also been making attempts to attract large-scale investors by offering fee cuts.
According to the Financial Times, Coinbase is waiving fees for 60 days for customers wanting to trade funds on the professional market. This facility will be available to investors with trades exceeding $500,000 on rival exchanges. It is important to note that this feature is generally available to traders handling over $250 Million.
TradFi platform Algotech (ALGT) has emerged as a highlight in this search.
Algotech (ALGT) Takes Spotlight as Regulation Pressure Impacts Coinbase
Regulatory pressure on Coinbase has resulted in major doubts for investors on the exchange. Experienced investors are starting to look beyond the platform for stable investing avenues. In this search, cutting-edge TradFi platform Algotech (ALGT) has attracted major attention after selling out its private seed round with $1.1 Million within two days.
The platform has been touted as the future of algorithmic finance with cutting-edge features, including breakout detection, mean reversion, and hedging. Traders can also use Algotech for arbitrage trades due to the platform's high volume capacity.
Market insiders have been on the lookout for the project because of the upcoming supply crunch. Algotech’s (ALGT) deflationary tokenomics means that supply will be quickly absorbed by the market, resulting in a massive upward leg. The project also offers a variety of community benefits, including governance rights and profit shares. This makes the current price of $0.04 look like a steal.
You can find more details about this project:
