The ties that bind? Coinbase's listing of 0x draws scrutiny given the exchange's connections to a VC firm promising 'asymmetric info'

Quick Take

  • The Block has identified potential conflicts between Coinbase and investing firm Scalar Capital
  • Scalar Capital, according to extensive investigating, has ties to both 0x and Coinbase
  • The founders of Scalar, which is advised by Coinbase engineer Maksim Stepanenko, invested in 0x’s token sale prior to Coinbase listing the token
  • Scalar, in a pitch deck obtained by The Block, promised “asymmetric info” to potential investors
  • Market experts say these relationships would be looked at with more scrutiny in traditional U.S. equity markets
Coinbase, the digital asset exchange, has stood out as a trustworthy marketplace among a crowded field of venues. It even calls itself “the most-trusted brand in the space” in its marketing materials.  That trust has translated into more than 25 million users, according to some estimates, and a potential $8 billion valuation. Still, the Coinbase […]

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Oct 15, 2021, 2:54AM UTC