Today has been a great day for the crypto world. And it is that, for the first time in history, a cryptocurrency company has begun to be listed on the New York Stock Exchange. Thus, Coinbase has paved the way for other exchanges and companies related to the crypto market to launch their own Initial Public Offerings (IPO). However, not everyone would support this strategy for the integration of the crypto world and traditional finance. For this reason, Binance launches mockery against Coinbase in the Tweet of the day:
Binance will not follow Coinbase
For Coinbase the strategy has always been clear. You have to try to integrate the world of cryptocurrencies with that of traditional finance. Not being a replacement or presenting a direct challenge to this world, but complementing and empowering it by making use of cryptocurrencies. It is a realistic vision that has allowed it to be the first cryptocurrency exchange to list on Wall Street.
However, this is not a path that all crypto companies want to follow, and it is certainly not a path that Binance wants to follow. Well, the main cryptocurrency exchange in the world, continues to bet on a growing decentralization in its operation. Placing all their hopes for the future on the capabilities of crypto assets to become an alternative to the traditional world.
Within this vision of the world, therefore, there is no possibility of an IPO by traditional means for Binance. Changpeng Zhao having mentioned on other occasions that although he congratulated Coinbase and his team on their IPO, that would not be the way forward for his company. Which has not stopped the Binance social media team from launching a direct taunt against Coinbase through its Twitter account.
«Congratulations on your Coinbase IPO. Take over Wall Street, while we take over ALL the streets».
What seems to be behind this phrase is a veiled accusation by Binance against Coinbase, for having integrated into the traditional financial system to which cryptocurrencies are an alternative. Something that, however, does not mean that there is an open conflict between the two exchanges, but rather a difference in strategies and visions around the crypto world that is becoming more and more evident.