Coinbase Halts Bitcoin Cash Trading Abruptly After Exchange Launch
Shortly after the sudden news it would add support for the cryptocurrency bitcoin cash, U.S. exchange startup Coinbase has already moved to disable trading of its newest asset.
Announced today via a blog post to users, the decision to add the cryptocurrency, the third-largest by market capitalization, comes months after developers backing the effort cloned the bitcoin blockchain, effectively creating a competing network that claimed to enable a greater volume of transactions.
Using a mechanism called a hard fork, however, the project created unique complications for exchanges, as by copying bitcoin’s ledger at the time of the split, Coinbase users who held bitcoin were effectively owners of bitcoin cash as well.
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