Charlie Lee on Delete Coinbase Campaign: Most Investors Don’t Make Use of the Platform Anyway

Litecoin creator ‘Charlie Lee’ made an appearance recently on the seventeenth episode of the Magical Crypto Friends podcast. During his appearance, he spoke at length about a host of different issues such as the controversy currently surrounding Coinbase as well as other matters related to the world of crypto. Not only that, for the podcast, Lee was joined by a number of established crypto personalities such as:

A Closer Look at the Matter

As many of our regular readers may already know, one of the world's largest crypto exchanges’ ‘Coinbase’ has recently been in the news due to its controversial decision to list XRP on its platform. However, as soon as the announcement was made, the firm was flooded by a number of allegations related to insider trading— resulting in the start of the now famous #DeleteCoinbase movement.

To make matters even worse, in a recent interview with Cheddar, Coinbase’s Director of Institutional Sales Christine Sandler stated that she was very much aware of the ties that Neutrino and HackingTeam had with one another. Not only that, she then went on to add that her firm acquired Neutrino because they found that the company had been “selling client data to outside sources”.

Following this PR debacle, Coinbase CEO Brian Armstrong took matters into his own hands and released a statement claiming that all of the individuals who had previously been associated with HackingTeam had been let go off by Coinbase.

In response to the entire episode, Lee took to Twitter to post the following comment:

“I thought like people have been deleting Coinbase for a while now right. I guess this Neutrino thing really brought this back out and people are like more upset about Coinbase and actually going out and deleting their accounts. But, you know, from my point of view, people who actually delete Coinbase, don’t actually use it anyways, right. So, it's not really going to affect anything.”

Final Take

In closing out this piece, it is worth adding that Monero exec. Riccardo Spagni too spoke out on the Coinbase issue recently. In his opinion, the people that are currently deleting their Coinbase accounts are not going to have “more than a very minimal impact” on the trading platform’s day to day operations. However, he does believe that this movement will allow crypto enthusiasts to gradually shift from Coinbase to other legitimate/competitive altcoin trading avenues.


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