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#DeleteCoinbase is popularized on social media, following Coinbase's decisions


www.chepicap.com 01 March 2019 06:31, UTC
Reading time: ~2 m

#DeleteCoinbase hashtag has become popularized as users feel dissatisfied with the exchange's recent decisions. 

Following the “proud announcement” of the acquisition of Neutrino by Coinbase just a couple of days ago, a new hashtag has become popular on social media.

Read more: Coinbase announces new acquisition, wants to become 'Google of crypto'

The hashtag, #DeleteCoinbase seems to be popularized by crypto enthusiasts, who feel dissatisfied with the exchange decision.

According to The Next Web, Coinbase claimed Neutrino’s technology would help make crypto “safer and more accessible” by allowing to track illicit activity.

The claim, however, backfired when several renowned analysts, such as Arjun Balaji said that many of Neutrino’s members were actually the former leaders of Hacking Team.

To those unfamiliar with the subject, Hacking Team is an organization that sell “intrusion and surveillance capabilities” of prominent journalists and political activists to oppressive regimes across the globe.

Regardless of the clarification made by Coinbase on the matter, it doesn’t seem to stop the disgruntling users movement.

Read more: Coinbase responds to criticism surrounding the acquisition of Neutrino

That said, the acquisition wasn’t the only cause to the rage that led to the creation of the #DeleteCoinbase. The recent change to the “storage method” that the exchange just implemented was said to have catalyzed the “disgruntled movement” as well.

Read more: Coinbase CEO clears up four misconceptions about hot and cold wallets

As of writing time, it’s unclear how many Coinbase’s users have actually deleted or deactivated their accounts from this "movement".

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