GDAX concludes testing, officially launches Bitcoin to Bitcoin Cash trading
GDAX has officially concluded its testing process and has launched Bitcoin to Bitcoin Cash trading.
A ray of sunshine has emerged for Bitcoin Cash enthusiasts in the wake of yesterday’s turbulent market as GDAX has now officially launched BCH-BTC trading.
The company previously announced its intent to support Bitcoin Cash in December of 2017, stating that “We made the decision to list BCH by considering such factors as customer interest, developer support, network security, market capitalization, trading volume, and our Digital Asset Framework.”
GDAX now offers three order books, specifically BCH-BTC, BCH-USD, and BCH-EUR.
BCH prices responded positively, with values climbing by some 12% to reach values just above the $1700 USD mark at press time.
Coinbase (which owns GDAX) attempted to launch support for Bitcoin Cash trading in December of 2017 – though news that indicated insider trading was at play saw the company’s plans stymied.
Bitcoin Cash first launched on Coinbase and GDAX on December 20th of 2017, wherein the price of BCH soared to some $8500 USD up from $3500 USD.
GDAX correspondingly halted trades just two minutes after going live.
Responding to allegations of insider trading, Coinbase CEO Brian Armstrong stated that “Given the price increase in the hours leading up the announcement, we will be conducting an investigation into this matter. 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.”
Armstrong confirmed that Coinbase employees were banned from purchasing Bitcoin Cash, and further disclosing the company’s plans, over a month prior to launch date.
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