Coinbase Responds to New York Crypto Exchange Inquiry

Coinbase has formally responded to New York Attorney General Eric Schneiderman’s cryptocurrency exchange inquiry, and the San Francisco-based startup elected to share a portion of that response with the public.

The five-page letter, which was drafted by Mike Lempres — Coinbase’ chief legal and risk officer — is an abbreviated version of the one that the company sent to the Office of the Attorney General (OAG), but it nevertheless contains some notable insights into the company’s meteoric growth over the past 18 months.

Lempres wrote that the company has increased the surge transaction capacity of its trading platforms by 1000% over the past two quarters, which he said required a “substantial re-architecting” of the firm’s code base. In the past, Coinbase — along with other major exchanges — has struggled to stay online during periods of intense market volatility.


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