Don’t expect to see Dogecoin getting listed on Bitstamp anytime soon
While Dogecoin is supported by many famous people in the crypto market and traditional finance, from billionaire Elon Musk to Mark Cuban, the owner of the Dallas Mavericks basketball team, this does not mean that everyone is in favor of this memecoin. Especially, Elon Musk-touted DOGE rejected by Bitstamp boss.
Julian Sawyer, Bitstamp CEO
Bitstamp CEO Julian Sawyer is not buying into the Dogecoin hype
Or more correctly, Bitstamp CEO Julian Sawyer is not buying into the Dogecoin hype. Sawyer told the business outlet Financial News that adding the meme coin would run counter to the trading platform’s rigorous listing policy, which prioritizes quality over quantity.
“This is not a race to quantity, this is a race to quality”, the head of one of the oldest cryptocurrency exchanges stated.
In it, Bitstamp CEO also mentioned that Musk made Dogecoin price fluctuate with just his tweet. Sawyer says this kind of market manipulation is not right, stressing the importance of protecting customers.
“The issue is that if you go to some that are hyped up by a billionaire’s tweet, or crashes on a billionaire’s tweet, we don’t think that’s right”, he stated.
In order to earn large sums of transaction fees, many major exchanges rushed to list DOGE as the memecoin frantically surged to a high. Among them, the Gemini exchange led by the Winklevii twins listed DOGE in May. More surprisingly, Coinbase, the largest US exchange, also followed in June.
It can be seen that Bitstamp always stays out of trouble or unstable things. Moreover, this exchange always complies with its efforts to strike the right balance between its stringent AML/KYC requirements and user privacy.
Bitstamp became the first major exchange to suspend XRP trading in the U.S. after the U.S. Securities and Exchange Commission sued Ripple in December. The rapidly evolving regulatory landscape within the cryptocurrency industry shows that sticking to the conservative listing policy and eschewing risky altcoins might end up being a winning strategy.
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