Coinbase embedded secret message into Bitcoin’s blockchain on a listing day and the message was regarding Biden’s latest stimulus approval as we are reading more in our latest Coinbase news.
Paying homage to Bitcoin’s creator Satoshi Nakamoto, Coinbase embedded a secret message in the Bitcoin blockchain just like Satoshi did in 2009. Yesterday, the crypto exchange became a publicly-traded company and asked a large BTC mining pool to embed a note in the blockchain in regards to the latest stimulus bill. When launching the Genesis block of the cryptocurrency in January 2009, Nakamoto embedded a message referring to the financial crisis in 2008:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
Twelve years later, Coinbase followed the example that was set by Bitcoin’s creator and announced they asked the mining pool F2Pool to code with the text:
“TNYTimes 10/Mar/2021 House Gives Final Approval to Biden’s $1.9T Pandemic Relief Bill.”
The commonalities between the messages spread more than just a text embedded in the blockchain as both referred to economic struggles, one in 2009 and one in 2021 which was spiked due to the global COVID-19 pandemic. Both messages touched upon the government’s controversial measures to fight against the consequences but the note cites that this article published by the New York Times outlined the latest stimulus package that was aimed to alleviate some of the pain from the pandemic.
The largest US-based exchange chose to pay homage to Nakmoto because of the relevance of the day and as previously reported, Coinbase became a publicly traded company on April 14th, 2021 through a direct listing.
Also as recently reported, A few hours after announcing it will offer a tokenized version of Coinbase stocks for trading, the major crypto exchange Binance stalled the listing because of market volatility. Stock tokens allow investors to purchase fractions of the share without a commission while getting dividends. Unlike the actual stockholders, the investors in token stocks have no voting rights in the company.
$COIN’s reference price was set at $250 but then debuted 52% higher to $381. It then climbed as high as $424 but dropped later to $313. The 15%-20% swings are a typical movement on the market but they are not as common to stocks-well at least to the established ones. Binance will likely allow trading of the stock soon but we have to wait out until the volatility settles.
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