Coinbase Slammed For Listing 0x
In recent news, personal connections that tie together the investment management company Scalar Capital, Coinbase and 0x. Speculation suggests that Scalar Capital has used their connections with Coinbase to list 0x, a token which many people in the investment firm have been investors in from the start.
The former product manager at Coinbase, Linda Xie is currently the managing director at another company she founded called Scalar Capitalâ¦
Xieâs husband is the 0xâs co-founder named Will Warren. Jordan Clifford was previously lead growth engineer at Coinbase, but now is a managing director at the investment company which he also founded.
Moreover, one of the advisors and engineers at Coinbase Maksim Stephanenko was part of the team behind the Digital Asset Framework at Coinbase document for listing new assets. In the document, he is listed as the software engineer. It has now been reported that Stephanenko has been reported to have removed the Scalar connection from his Twitter profile.
As reported by CrytpoGlobe, it is not entirely clear if Scalar Capital invested in 0x, but key Scalar members were early investors in 0x, and Scalar management pitched the 0x project to the shareholders. A presentation includes 0x which lists the team at Scalar for their âasymmetric info and early access to projects as a Value add[s] for would-be investors.â
Sources at Coinbase have denied that Scalar Capital have had any impact on the decision to the list coin despite the leaked pitch deck, the source also denies that Scalar Capital had insider knowledge of when Coinbase was to list the aforementioned coin. The accusations that Coinbase has faced of insider trading in the past. One of the most notable being the Bitcoin Cash listing controversy during December last year when a massive surge preceded a surprise announcement of the listing. Afterwards, the price crashed from the high of nearly $10,000 to $1,550.
The Office of the Attorney General of New York, in the course of conducting its recent digital markets integrity report which made note that none of the exchanges which contacted for the report has:
âArticulated a consistent methodology used to determine whether and why it would list a given virtual asset, [and that listings were] largely subjectiveâ.
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