-Coinbase unveiled its new crypto derivatives platform – Coinbase International Exchange –The new exchange currently […]
The new exchange currently provides international institutional traders with up to 5% leverage
Coinbase, a leading American crypto exchange, announced its entry into the crypto derivatives market. The exchange has unveiled Coinabse International Exchange today for institutional users based outside of the United States. In a“Perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, creating highly-liquid markets and offering traders additional versatility in their trading strategies.
Notably, Coinbase’s announcement comes days after Gemini – its competitor in the American market – also exchange. The perpetual trading exchange currently lists the top two cryptocurrencies in the market, Bitcoin , and Ethereum .The trading is settled via Circle’s stablecoin – USDC and the leverage initially offered is 5x. This is less compared to Gemini, which is offering a minimum leverage of 20x and a maximum of 100x.Subsequently, Coinbase could be facing new legal hurdles in its home country.
Meanwhile, another lawsuit filed by a shareholder claims that Coinbase’s top executives made over a billion-dollar profit by not disclosing information. The complaint was filed against Coinbase CEO – Brian Armstrong, Surojit Chatterjee, Marc Andreessen Emilie Choi, Frederick Ernest Ehrsam III, and others.that these executives sold over $2.9 billion on the very first day of its listing and from April 14, 2021, to April 22, 2021.
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