Coinbase, one of the most popular USA cryptocurrency exchanges, is adding bitcoin cash to its offerings, giving momentum to a rival to the most popular digital unit. "If we find evidence of any employee or contractor violating our policies?-?directly or indirectly?-?I will not hesitate to terminate the employee immediately and take appropriate legal action." wrote Coinbase CEO, Brian Armstrong.
While Coinbase briefly enabled orders to be posted in U.S. dollars on its platform for more sophisticated traders, it suspended the facility after two minutes due to 'significant volatility, ' the company said in a blog post. A little over an hour later, orders were cleared and the market was taken offline.
Coinbase users have always been calling for the platform to add Bitcoin Cash, now the world's third-biggest cryptocurrency, to its roster after it initially shunned the launch of the offshoot cryptocurrency in August.
Starting at 9 a.m. PST today, GDAX began allowing access to its bitcoin cash market once again, holding it in a post-only mode (in which users could submit asks and bids without having them executed) for the two hours that followed.
Although there have been other Bitcoin splits before, this "fork" was unusual in that everyone who owned the original virtual currency was offered a matching sum of Bitcoin Cash.
Coinbase, a well known US Cryptocurrency Exchange is being investigated because of internal issues.
Bitcoin has soared to new highs this month as regulated U.S. derivatives exchanges in Chicago started trading futures in the unit.
Coinbase has yet to give a full explanation but has said that it intends to reopen Bitcoin Cash order books later on Wednesday.
Bitcoin price saw a major correction in a matter of just 24 hours when it dipped from a high of $19,000 to $16,390 - a near 15 per cent decline. "Coinbase employees have been prohibited from trading in bitcoin cash for several weeks".
Bitcoin Cash's market cap has since exploded to $60.3 billion, making it the third largest cryptocurrency in the world behind only bitcoin ($293 billion) and ethereum ($80.1 billion).