Crypto wallet and US currency exchange service Coinbase has refuted "inaccurate" media reports that the platform is involved in trading ownership. According to Coinbase, media coverage was "not accurately characterized" by the New York Virtual Market Integrity Report, where Coinbase volunteered to contribute information about its practice by participating in the Virtual Market Integrity Initiative Questionnaire. However, according to Coinbase's clarification, "when Coinbase executes this trade, he does so on behalf of Coinbase Consumer's customers, not himself": "Coinbase does not trade in the interests of the company on the basis of ownership. To provide an easy-to-use customer experience, Coinbase Consumer quotes prices and then quickly fills orders from our exchange platform (Coinbase Markets). This takes advantage of the liquidity provided by the entire Coinbase ecosystem. "The company thus stresses that" trading alone "- because information has been misinterpreted by third-party reporting - does not accurately distort what is actually" the customer-driven volume through Coinbase Consumer. "The statement repeatedly reinforces the fact that exchanges do not operate exclusive trading tables , or conduct "market-making actions." In a previous statement, Coinbase had underlined that his participation in the NY Virtual Markets Integrity report and questionnaire was intended to explain the various exchange measures that have been taken to address compliance issues with federal and state regulators, including steps steps to address cybersecurity, market integrity and platform reliability
