Coinbase announced its withdrawal from the Blockchain Association, because of Binance.US?

By NPH | ALTCOINS to Invest | 13 Aug 2020


Exchange operator Coinbase announced that he would withdraw from the Blockchain Association, after admitting he had a formidable competitor.

In a letter addressed to the Blockchain Association on August 11, exchange Coinbase said it had decided to withdraw from the organization.

A Coinbase representative said:

"It is disappointing that I am applying for resignation from the Board of Directors of Blockchain Association"

"My resignation also serves as an announcement that Coinbase will withdraw from the Blockchain Association, from now on Coinbase and the Blockchain Association will be unrelated."

The recent actions of the Blockchain Association have left Coinbase quite disappointed.

Although not mentioning Binance.US, some insiders believe that Coinbase's departure is definitely related to Binance.US's recent membership of the Association.

“While we expect the Blockchain Association to remain committed to those values, unfortunately, recent weeks have shown us that the Blockchain Association doesn't care about membership selection criteria. we have agreed to establish and strengthen the mission of this organization, ”Coinbase's letter to the Blockchain Association.

“Certainly the Board of the Association can make a change in the selection of members but recently we find that this change is not appropriate. So we feel that we are not suitable to stay to implement the Association's goals ”.

In a statement, a Coinbase spokesperson added that "the departure of Coinbase will likely undermine the reputation of the Blockchain Association and make it increasingly difficult for the Association to achieve its goals and those of its members." .

Speaking of which, the Blockchain Association also tweeted that:

"Coinbase, one of the most important members of the organization chose to leave at a critical moment, we are very disappointed with this decision of Coinbase."

"However, we believe that we have complied with the membership selection criteria and respect the opinion of the majority of the Board of Directors"

The Blockchain Association says other members are still functioning properly and that the organization will always welcome new members.

For Binance.US, a subsidiary of Binance operating in the US, declined to comment on Coinbase's departure.

How do you rate this article?


6

0

NPH
NPH

3 Years in cryptocurrencies analysis. Hope that we all are winners


ALTCOINS to Invest
ALTCOINS to Invest

This Blog will recommend altcoins that's worth to invest

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.