Is Coinbase Trying to Influence the Price of Ethereum?

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An informational e-mail from Coinbase has raised some eyebrows amongst investors. The e-mail, sent out by the cryptocurrency exchanges, seems to be promoting Ethereum. Therefore, some investors believe it is an attempt by the most well-known exchange to influence the price of the digital asset. 

Yesterday, Bitcoin Advisory founder Pierre Rochard, turned to Twitter to call out cryptocurrency exchange Coinbase. The reason: an e-mail by Coinbase that Rochard considers an “Ethereum pump email”.

The tweet from Pierre Rochard with the Coinbase e-mail:

While Pierre Rochard doesn’t seem charmed by the Coinbase e-mail, other crypto-users consider it as nothing more than a market strategy for Coinbase, used to promote a product (Ethereum) which is already listed on the exchange’s platform.

In a response to the tweet from Pierre Rochard, another Twitter user called Thomas said:

That’s crazy, so you mean to tell me a company is promoting one of the products it sells?

Of course, it is not strange for an exchange to send out informational e-mails to give users more background information about a digital asset. During a time, however, that XRP has surpassed Ethereum on the cryptocurrency rankings, the e-mail can be seen as a bit strange. Especially with the knowledge that Coinbase’s CEO, Brian Armstrong, reportedly owns more Ethereum than Bitcoin.