Coinbase’s 0x [ZRX] Listing Causes Conflict
The recent listing of 0x’s ZRX token by Coinbase has caused a lot of speculation. Some suspect that Scalar Capital has used their connections to Coinbase to list 0x a token that many at Scalar Capital are early investors in.
Coinbase has long fought to be the flag bearer of trust, transparency, and openness in the crypto exchange space. Coinbase owes its strong user base of over 25 million and its potential $8 billion valuations to its prudent approach.
The former product manager at Coinbase, Linda Xie is currently the managing director at another company she founded called Scalar Capital.
Xie’s husband is the 0x’s co-founder named Will Warren. Jordan Clifford was previously lead growth engineer at Coinbase, but now is a managing director at the investment company which he also founded.
Furthermore, Maksim Stepanenko is both a Scalar advisor and an engineer at Coinbase; critically, he was involved in creating Coinbase’s “Digital Asset Framework” (DAF) document – for listing new assets. It is not entirely clear if Scalar Capital invested in 0x, but key Scalar members were early investors in 0x, and Scalar management pitched the 0x project to its investors.
On October 17 when Coinbase announced the platform would be supporting the coin, 0x surged by over 30%. This saw the coin find a new position at $1.04, where it encountered resistance.
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