One aspect, that they have dealt with before, and have had to deal with again this week, is the rumors that they would be introducing RIpple to the exchange. They have again vehemently denied this, which has had its effect on the Ripple Price.
The company quashed the rumors this time in another blog post by Armstrong as he stated:
“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”
The effect of this rumor, and then the quashing of it, showed quite prominently in Ripple’s price graph, but, as Matt Odell on Twitter, surmises, Ripple may well still make its way to Coinbase in the same manner in which Bitcoin Cash appeared on the exchange.
The blog post goes further to outline the process that Coinbase follows when making a decision to add a new coin to its stable, and as one can imagine, it is not a simple process. Coinbase faces a lot of scrutiny and has many watchful eyes on them when making big calls, and thus it is up to them to make sure it is executed perfectly, for their own well-being, and that of the entire crypto market.
Forging ahead
It is not all doom and gloom for Coinbase as they look to put out fires along the way. The most recent move by the exchange is to move them in somewhat of a different direction, offering weighted index fund for cryptocurrencies. What this means is that, for US citizens, there is a chance for investors to exposure to all assets listed on the company's current exchange, GDAX, depending on their market capitalization.
This is a step in a slightly different direction for Coinbase as they expand their market to reach those who are perhaps more akin to traditional investments, broadening the net and amalgamating crypto and traditional assets.
Still, as with the fires they are trying to put out in the lawsuits, the Index fund has been met with mixed reviews.
Managing partner at Full Tilt Capital, a venture capital firm and real estate solutions company that has its eyes on crypto, Anthony Pompliano, believes this is a crossing over of traditional and crypto investors.
