Coinbase now supports buying and selling Ethereum Classic

Coinbase has added a new buying option for its customers after the crypto exchange introduced Ethereum Classic to its collection.

The addition was first announced in July but Coinbase took its time to implement its newest addition following criticism over the way it added Bitcoin Cash last year. Allegations of insider trading led the company to investigate the incident which saw service outages and wild price fluctuations for Bitcoin Cash right after its addition to the exchange. It later introduced a framework for adding new tokens.

Nonetheless, Ethereum Classic’s value spiked 20 percent on last month’s news. Today, though, it is down two percent over the last 24 hours, according to Coinmarketcap.com.

Coinbase has taken a conservative approach to adding more crypto. Today’s addition takes it to five tokens — Bitcoin, Ethereum, Litecoin and Bitcoin Cash are the others — but that’s likely to change this year. Last month, it announced it is “exploring” the addition of another five tokens while CTO Balaji Srinivasan hinted that the selection would grow further when I interviewed him at the recent TechCrunch blockchain event in Zug.

“We hear your requests, and are working hard to make more assets available to more customers around the world,” Dan Romero, who heads Coinbase’s consumer business, said in a blog post published today.

A note on Ethereum Classic — it was created in June 2016 following a major hack on The DAO, a fundraising vehicle for the project. In short: the Ethereum Foundation created a new version of Ethereum — known today as Ethereum — that rescued the lost funds, while those who opposed continued on with the original chain which was known as Ethereum Classic.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

Catch Binance CEO Changpeng Zhao at TechCrunch’s blockchain event on July 6

Changpeng Zhao, CEO of Binance — the world’s largest crypto exchange — is the newest addition who will join us for TC Sessions: Blockchain, TechCrunch’s first event dedicated to blockchain technology, which takes place July 6 in Zug, Switzerland.

The event will bring together the startup/business world and blockchain community to explore the potential of the blockchain, where it is now, and much more. The location is Zug — the Swiss city know as “Crypto Valley” for its plethora of startups and forward-thinking governance — and our speak list already includes standout names such as Ethereum creator Vitalik Buterin, Coinbase CTO Balaji Srinivasan, and Hyperledger’s Brian Behlendorf.

Tickets are available now priced at 495 Swiss Francs, or around $500 — just head here. Don’t miss it!

Zhao, known as CZ, started Binance in July 2017 and it has enjoyed a meteoric rise. The exchange processes over $3 billion in crypto trades per day, which makes it the world’s largest by some margin, according to CoinMarketCap.com. Binance’s own token (BNB) is currently trading at over $14 — that’s up from an initial ICO price of around $0.10 and it gives it a total market cap of $1.6 billion.

Even in real-world financial times, Binance is huge. The company recorded a profit of around $150 million during its most recent quarter of business despite being less than a year ago.

Zhao himself started out in the world of financial trading, creating a company called Fusion Systems which enabled high-frequency trades for brokers. He got into crypto when he joined wallet app Blockchain.info, before moving on to Chinese exchange OkCoin for a stint as CTO. Spotting an opportunity for a new exchange, he exited to start Binance last year, raising $15 million in July to kick the project off.

There’s been controversy — including rumors of high listing fees and a legal spat with VC firm Sequoia — but Binance is the top dog and it remains the exchange that every crypto firm aspires to list on.

It is also pushing out overseas beyond Hong Kong. Binance has explored the global potential of crypto by moving its exchange to Malta, a country keen to woo blockchain giants, and inking deals to hire large numbers of staff in Uganda, Togo and Bermuda. It looks like that is just scratching the service for what Binance has planned.

“I could retire now and I’d be ok for a few lifetimes, but we are doing something I think is very meaningful,” Zhao, who ranks third on Forbes’ crypto rich list with an estimated worth of $1.1-$2 billion, told TechCrunch in an interview earlier this year.

Blockchain is the most disruptive new development in the technology space today, and we’re excited to host our first show that is solely dedicated to the blockchain. The event takes place in the Swiss city of Zug — widely known as “Crypto Valley” due to its sizable number of crypto companies and a progressive approach to regulation — and it will bring together top figures from the blockchain space, developer community and business and startup worlds.

Prominent speakers confirmed for the July 6 event include:

  • Vitalik Buterin, creator of Ethereum
  • Balaji Srinivasan, Coinbase CTO
  • Roham Gharegozlou, the founder of smash-hit blockchain game CryptoKitties
  • Brian Behlendorf, executive director of the Hyperledger Project
  • Leanne Kemp, founder and CEO of Everledger
  • Jun Hasegawa, CEO and founder of Omise and OmiseGo
  • Mona El Isa, CEO and co-founder of Melonport
  • Colin Hanna, associate at Balderton Capital
  • Galia Benartzi, co-founder and head of Business Development at Bancor
  • Gert Sylvest, co-founder of Tradeshift and GM of Tradeshift Frontiers

You can get your hands on tickets now — they’re priced at 495 Swiss Francs, or around $500 — from the event website here.


If you’re interested in sponsoring the event, please contact us via this link.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

Coinbase CTO Balaji Srinivasan joins the speakers at TechCrunch’s first blockchain event

Boom, boom, boom! We’re announcing another big name for our upcoming blockchain event in Zug, Switzerland, on July 6 after Coinbase CTO Balaji Srinivasan joined the line-up.

The event — TC: Sessions Blockchain — will be TechCrunch’s first show dedicated to blockchain, it takes place in the world’s “Crypto Valley” and we’ll be joined by a host of top names. Some of those include Ethereum creator Vitalik ButerinRoham Gharegozlou, the founder of smash-hit blockchain game CryptoKittiesBrian Behlendorf, executive director of the Hyperledger Project, and OmiseGo CEO Jun Hasegawa.

Don’t miss it! Tickets are priced at 495 Swiss Francs — or around $500 — and they’re available from the event website here.

Fresh from announcing Buterin’s participation, we’re excited to host Srinivasan, who is another massively-respected thinker and visionary in the blockchain space.

Srinivasan became the first-ever CEO at Coinbase, the U.S. crypto giant that is now reportedly valued as high as $8 billion, in April after it bought Earn.com, where he had been CEO, in a deal priced at over $100 million.

Beyond the day job, Srinivasan is a board member at influential VC firm Andreessen Horowitz — which is planning its first dedicated crypto fund — and he holds a BS, MS, and Ph.D. in Electrical Engineering and an MS in Chemical Engineering from Stanford University. He previously founded genetic testing company Counsyl, and occasionally teaches at Stanford.

TechCrunch will sit down for a one-on-one interview with Srinivasan, a long-time blockchain advocate in Silicon Valley, to discuss a multitude of topics, some of which may include his plans for Coinbase, the blockchain talent war, blockchain adoption among Silicon Valley’s tech community, how he turned Earn.com around from a debt-plagued business into a Coinbase acquisition and more.

One thing we do know is he is charged with bringing more innovation to Coinbase, a company that only trades four cryptocurrencies — so he is keeping a keen eye on what is happening on the blockchain space.

“There’s a lot of amazing stuff happening,” he said in a recent interview with TechCrunch. “Atomic swaps, sharding, plasma, proof of stake, etc, and a big part of my job will be to take all of that stuff, and rank it based on whether we can use it to create new products for our users.”

Coinbase CEO Brian Armstrong, pictured below at TechCrunch Disrupt London in 2014, called Srinavasan “one of the most respected technologists in the crypto field and… one of the technology industry’s few true originalists.”

Blockchain is the most disruptive new technology in technology today, and we’re excited to host our first show that is solely dedicated to the blockchain. The event takes place in the Swiss city of Zug — widely known as “Crypto Valley” due to its sizable number of crypto companies and a progressive approach to regulation — and it will bring together top figures from the blockchain space, developer community and business and startup worlds.

Other prominent speakers confirmed for the July 6 event include:

  • Roham Gharegozlou, the founder of smash-hit blockchain game CryptoKitties
  • Brian Behlendorf, executive director of the Hyperledger Project
  • Leanne Kemp, founder and CEO of Everledger
  • Jun Hasegawa, CEO and founder of Omise and OmiseGo
  • Mona El Isa, CEO and co-founder of Melonport
  • Colin Hanna, associate at Balderton Capital
  • Galia Benartzi, co-founder and head of Business Development at Bancor
  • Gert Sylvest, co-founder of Tradeshift and GM of Tradeshift Frontiers

You can get your hands on tickets now — they’re priced at 495 Swiss Francs, or around $500 — from the event website here.


If you’re interested in sponsoring the event, please contact us via this link.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.