According to the exchange, the closure of Coinbase is an American company that operates a cryptocurrency exchange platform. Pro aims to avoid inconvenience to users and make everything available in one place.
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- Coinbase Pro will close refers to the closing price; similar to the same term used in stock trading. and merge with Coinbase.
- There is no exact date for closing yet, but the funds in the Coinbase Pro will become available in Coinbase.
- Functions of Coinbase Pro will be present in Coinbase by means of Advanced Trade.
- Analysts believe that this also seeks to reduce costs to the exchange.
The U.S.-based international exchange, Coinbase, reported that it will close its platform a place to buy, sell and store cryptocurrency Coinbase Pro and proceed to integrate all the functions into your main website, bringing everything together in one place.
Coinbase y Coinbase Pro are going to merge
This was announced by the team of Coinbase in an official statement published through its website, stating that the services of Coinbase Pro will be migrated to a new section of the main site called Advanced Trade, which has been available to all users since March of this year, and where there are additional features for those who want to have more tools when trading cryptocurrencies.
In relation to the integration of the services, the team of Coinbase he wrote:
“Many customers rely on Coinbase Pro and Coinbase.com for overlapping feature sets and often experience friction when transferring balances between the two products.
To resolve this friction and offer customers the best of both worlds, we have rebuilt the entire Coinbase Pro advanced trading experience within the Coinbase mobile app and Coinbase.com. As we continue to add more features to Advanced Trade on Coinbase, we will be shutting down Coinbase Pro later this year.”
While there is still no exact date for the full merger, the team of Coinbase indicated that he will inform the exact dates in due course and clarified that anyone who has funds in Coinbase Pro you will not have to move them, as they will be moved to the main account:
“For customers who have funds on Coinbase Pro, no action needs to be taken; the funds will remain safe on Coinbase. In the meantime, customers can start using Advanced Trade on the Coinbase mobile app and Coinbase.com.”
Market an area or arena, online or offline, in which commercial dealings are conducted. downturn and Coinbase
While the move aims to bring everything together in one place for the benefit of customers, critics and analysts point out that it also shows the effects of the market downturn on the exchange, which has already had to make operational changes to ensure continuity of operations.
The unification of the two platforms could also be interpreted within the cost reduction as an attempt to unify services, so that it would not have to maintain two independent platforms.
Faced with the fall in the prices of major cryptocurrencies, Coinbase reported that it had to lay off some 1,100 employees, approximately 18% of its workforce, in order to cut costs and sustain its current operating programs.
In a recent interview, an exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. executive said it is still on the table to further reduce the employee base of the exchange. Coinbase if conditions so require. Although he assured that they would prefer not to opt for this measure, he stressed that everything will depend on the evolution of the market as such.
At the level of its stock market shares, these have also been hit and its share price has fallen in recent weeks. Analysts at Goldman Sachs recommended that interested parties sell.$COIN as the stock market outlook does not look very encouraging in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term.
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- Coinbase may choose to cut staff further in the face of market downturn, company official reveals
Source: Cointelegraph , Coinbase
Version by Angel Di Matteo / DiarioBitcoin
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