Coinbase crypto exchange has applied for the future trading services for 3 major crypto tokens, including the popular meme Cryptocurrency Dogecoin (Doge).
Coinbase is a leading American crypto exchange. This exchange is publicly traded on the Nasdaq stock exchange under the ticker symbol $COIN. The services of this crypto exchange are not limited to crypto trading services. Some of its services are used by US law enforcement agencies to combat crypto bad actors.
Recently, Coinbase applied to the Commodity Futures Trading Commission (CFTC) to obtain a green signal for the futures trading services for Dogecoin, Litecoin (LTC), and Bitcoin Cash (BCH).
It is worth noting that the Coinbase team failed to discuss or promote this move with the crypto community, but a crypto enthusiast noticed this quiet development and shared it with the crypto community.
If the CFTC body approves Coinbase’s application, trading will begin on April 1 this year.
Some crypto enthusiasts claimed that the US Securities and Exchange Commission (SEC) will definitely take significant action against this application and there is a good chance that they will try to withdraw it. The opportunity behind this move is huge as the Coinbase exchange is under major legal hurdles due to the SEC’s lawsuit against Coinbase’s crypto services.
Many crypto enthusiasts noted that it is a very big step by this crypto exchange. Some meme token supporters were extremely happy with Coinbase’s filing with the CFTC body, as they mentioned that the Coinbase exchange is now supporting the meme tokens trend in this bull run.
It is a bitter reality that meme tokens are those crypto tokens that have no use case yet have gained immense popularity in this bull cycle. Some meme crypto tokens have grabbed trading volume of over $2 billion within a few days of launch.
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