The debate started with the acquisition of the third largest cryptocurrency, XRP, and a blockchain analytics start-up, neutrinos has had a large impact on the exchange platform Coinbase. In the US, Jesse Powell, the founder of a major exchange, Kraken, talked about it in a recent podcast.
#DeleteCoinbase movement had an adverse effect on the exchange, with many members of the community removing their account and posting it on their social media handle.
The exchange was affected by negative feedback for the first time, when the internal business of XRP was broken after the announcement of the coin listing. Due to news related to neutrino, this situation has increased soon. Some members of the community noticed that members of the core team of Nutrino were part of the hacking team, a firm that sells surveillance equipment to governments with poor human rights records.
In order to calm down the community’s disorder, Institutional Sales Director Christine Sandler talked about the reason that the firm decided to acquire the blockchain platform despite being aware of the previous activities of the members. The reason given by the director was the leading technology of the neutrinos industry.
Nevertheless, this effort to clear the air failed at large, in turn, there was more fuel in the movement. Explaining the reasons why he had to go ahead with the acquisition, the director said that their providers were selling customer data to third-party enterprises, however, the names of the providers were not discussed.
After this, Coinbase co-founder and CEO Brian Armstrong also published an official statement in a blog post. The CEO announced that he had “there was a difference in our diligence process” and announced that the former members of the hacking team would “out of transit” of the Coinbase. However, Brian Armstrong has not yet provided any information about the sale of client data.
Kraken CEO Jesse Powell talked about the turn of events with Christina Yee, How to Grow to a Decakron Podcast – Episode 5: Killing Brand in 2 Weeks #DeleteCoinbase he said:
“I guess by sending somebody [Christine Sandler] […] kind of less affiliated with with the actual acquisition kind of gives you room to kind of test the waters like try this response and if that doesn’t play well then we’ve got like five other people who can be more authoritative on this that can try a different angle”
He said that:
“okay yeah so back to the blog post Brian Armstrong says our mission as a company is to create an open financial system for the world which is interesting and I’ve heard them say that before but it seems to contradict their actions “