and Andrew Torba Banned from Coinbase, Making the Case for Decentralized Exchanges

The popular virtual currency exchange Coinbase has banned the controversial social network and its owner Andrew Torba from using the services provided by the company. wrote a tweet informing about this situation.

Just a few hours before this issue, wrote a tweet saying that the next phase of financial censorship as people move to bitcoin is censoring exchanges. According to the social network, if companies continue to censor individuals, the will keep moving towards Bitcoin (BTC). has also expressed its support for decentralized exchanges that run without a centralized authority.

Torba has created this social media in order to avoid censorship on Facebook, Twitter and other mainstream social media sites. Gab has generated also some controversies since it allowed individuals to post whatever they wanted, including racist comments. In the past, the company was banned from both Apple and Google Play.

Although it is possible to question whether there was a lack of moderation on this site, Coinbase did not provide any clear information about why they took the decision to ban both Gab’s and Andrew Torba's accounts.

In many cases, centralized exchanges and platforms such as Coinbase have been highly criticized for taking arbitrary decisions regarding their users. In some cases, some individuals were banned without reasons or funds were frozen without explanation from the company.

Although Gab is able to gather support from the community, there are many individuals in similar situations that are not able to do anything with the exchange.

Currently, there are some companies that are trying to create decentralized exchanges and improve the services provided to users. However, these decentralized exchanges tend to have some issues with the user experience. Centralized exchanges work smoothly and have many other services.

One of the companies that are building a decentralized exchange is Binance, the popular virtual currency platform. According to CoinMarketCap, Binance has the second largest trading volume in the market. In the last 24 hours the exchange handled $676 billion.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide