Users Accuse Coinbase of Lying to Investors, The Platform Denies Accusations
Claims on a Reddit thread that Coinbase may have lied that it stores 97% of user funds in multisig addresses has been refuted by the platform. Founded in June of 2012, the wallet and platform where merchants and consumers transact Bitcoin prides itself as the world’s most popular way to buy, sell, and use Bitcoin. Hence, any negative claim against it generates huge interests. What started the accusations? The lead comment on the thread by Willidungl reads: “It looks like Coinbase may have openly lied about the number bitcoins they store to their users and perhaps even to their investors.....
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Beleaguered crypto exchange, Binance, has released a statement in which it denies accusations that provides financial advice or renders any intermediary services. In a statement released on Twitter less than 24 hours after the Financial Sector Conduct Authority (FSCA)’s warning, the crypto exchange also denies having any ties or links to the organization “Binance Group.”
Binance Not Associated With Binance Group
Instead, Binance suggests in its September 3 Twitter thread that the FSCA might have erred when it issued the warning. The thread explained:
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On Monday, The Genesis Block posted an article titled: "Mt. Gox Seizures Linked to Silk Road in Fed Testimonies". In that post, links between the now-defunct Silk Road and Mt. Gox are drawn: The $5.5M seized 'as a result of the ongoing investigation' into Silk Road isn't explicitly tied to Mt. Gox by the DHS statement, but when considered in conjunction with other data points it becomes clear that the two are almost certainly directly related. Mt. Gox has apparently taken notice, quickly taking to their website to swat down any accusations of the sort. Therein: Recently published media....
Filing 2020 taxes may be slightly less complicated for Coinbase users than it was before. With just three months until the deadline for United States citizens to declare their crypto gains and losses to the Internal Revenue Service, Coinbase is partnering with portfolio tracking and tax calculating platform CoinTracker to make the process simpler.According to CoinTracker, it's an easy way for Coinbase users to report their crypto transactions and sales. Targeted at U.S. users, CoinTracker will calculate and fill out the specific forms — for example, Form 8949 and Schedule D — to declare....
Coinbase clarified that the crypto exchange was not selling its users’ data and highlighted that it only provides information for investigations of financial crimes. Crypto exchange platform Coinbase denied reports alleging that the company is selling its customer information to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. On Thursday, news that Coinbase has been providing geolocation data to the ICE has circulated online. Because of this, Twitter users like Solobase Mac were shocked and noted that....
Photo by _Mo. Ripple Labs co-founder Jed McCaleb's recent decision to sell his entire stock of XRP was the start of a difficult week for the open-source payments processor. After McCaleb made his announcement, Ripple's price took a steep fall. Investor confidence declined further when Jesse Powell, known by most as CEO of Kraken, resigned from the board of Ripple Labs and levied some disturbing remarks about the company's management. Feeling betrayed, Ripple had their lawyers draft and send Jesse Powell a cease and desist letter. Powell posted that letter online for the Ripple community to....