• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

Coinbase Exits Industry Lobbying Group in Protest Over Recent Unspecified ‘Decisions’

Written by:
Aeon Flux
Published on:
12 August 2020
Thoughts:
No comments yet

Aug 11, 2020 at 18:11 UTCUpdated Aug 11, 2020 at 19:01 UTC

armstrong-brian-2

Coinbase CEO Brian Armstrong (CoinDesk archives)

Coinbase has withdrawn from industry lobbying group the Blockchain Association. The move comes a day after crypto exchange rival Binance.US joined the group.

  • “Recent decisions made by the association and its board seem at odds with the association’s mission,” a Coinbase spokesperson told CoinDesk without elaborating on those decisions. 
  • “We believe that decisions made now have the potential to irreparably impair the credibility of the Association and make it increasingly difficult for it to achieve its goals and those of its members,” the spokesperson said.
  • With the departure, Coinbase vacates its founding seat on the Blockchain Association’s eight-person board and membership in the 24-strong organization, now down to 23. 
  • As first reported by Fortune’s Jeff Roberts, Coinbase’s Tuesday departure is closely linked to another group’s Monday arrival: Binance.US.
  • The U.S. affiliate of international exchange powerhouse Binance competes with Coinbase for American crypto investors’ accounts.
  • Though Coinbase refused to name Binance.US publicly, a board resignation letter obtained by The Block indicates the disagreement does indeed stem from membership disputes.
  • “Recent weeks have demonstrated to us that the Blockchain Association is not interested in the membership criteria we had worked to establish to underpin the mission of this organization,” Coinbase’s Hermine Wong wrote to lobbyist chief Kristin Smith.
  • In a tweet response that also avoided naming Binance.US, the Blockchain Association defended its membership practices. 
  • “The Blockchain Association believes that bringing all of the major companies, investors, and innovative projects together from this young and growing industry is the only way to achieve meaningful and lasting policy and regulatory goals,” it said in a tweet.
  • Binance.US declined to comment.

Read more about…

CoinbaseBlockchain AssociationCoinFlash

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Categories: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (1,349)
  • Ethereum (841)
  • News (2,413)

Recent Posts

  • Echoes From the Past: BTC Balance on Exchanges Nears a Major Inflection Point 9 February 2021
  • DeFi Makes A Huge Jump, Bubble Or No? 9 February 2021
  • Cardano (ADA) Surpassed XRP For The First Time In Terms Of Market Capitalization 9 February 2021
  • Musk Provokes Intraday Dogecoin Pump — Analysis, 8 Feb 9 February 2021
  • Last Week 5 Top Earning Altcoins In The Top 100 9 February 2021

Archives

  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web