Coinbase believes revealing Satoshi’s identity will be a risk for both business and the crypto market overall, days after it filed to go public this week as we reported recently in our Coinbase news.
Coinbase filed with the US Securities and Exchange Commission to go public and in the meantime, it revealed that the comeback of the coin’s creator Satoshi Nakamoto will pose a serious risk for its business. The exchange has long been a market leader in the crypto space and offered one of the most downloaded apps for both Android and iPhone smartphones. The institutional central platform Coinbase Pro also became the preferred choice of major players like Tesla, Square, and more.
Popular BTC exchange platform Coinbase believes revealing Satoshi’s identity is risky due to hacks, quantum computing, and other issues that will impact the general health of the market which Coinbase says that its business is tied to. Satoshi Nakamoto is the owner of the wallet that contains more than 1M in BTC which is a substantial portion of the asset’s hardcoded and limited supply and Nakamoto would be ranked in the top-twenty billionaires as per the Forbes real-time list of the world’s richest people.
However, no one knows for sure who that person is or if someday they return to sell the coins. as the asset’s creator, they will have no intention to disrupt the network or integrity of the market itself and will not do anything harmful on purpose. However, uncertainty is a main component of the FUD and doubt. Not knowing what will happen in a “what if” scenario could start a massive selloff in the speculative asset one way or another which is why the exchange urges users to pay attention to the business risk. Up to this day, no one is certain who Satoshi Nakamoto is or whether it was an individual or a group, or whether he/she/they are alive today.
As reported recently, The US Securities and Exchange Commission released the S-1 filing signaling that it approved the crypto trading company’s request to list the shares on the Nasdaq platform a few months after the initial filing which made it the first exclusive crypto exchange to hit this milestone.
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