Brian Armstrong Explains Why Coinbase Sells Crypto Analytics Software To US Government

Coinbase was recently in the spotlight when the platform has been accused a lot of deliberately stopping the platform when Bitcoin goes up or drops in price.

A lot of analysts have blamed the crypto exchange for making these moves on purpose, and they used to say that Coinbase blacking out is more of a feature than a mistake/outage.

Last month, the exchange addressed the cause for these blackouts.

Brian Armstrong addresses selling blockchain analytics software

The online publication the Daily Hodl reported that Coinbase founder and CEO Brian Armstrong said that he wants to set some things straight regarding the reason for which his company is selling blockchain analytics software to the US government.

Armstrong addressed the issue on Twitter:

He continued and explained:

Armstrong also said that “Especially if you want more fiat in the world to flow into crypto over time (as I do). Blockchain analytics software is essentially just compiling publicly available data that is already out there on the blockchain, trying to organize it to make it more useful.”

We recommend that you check out the complete thread on Twitter.

He also addressed the importance of privacy coins:

Privacy coins have been gaining popularity for the past years.


People Mentioned

Brian Armstrong
Brian Armstrong

Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.

Companies Mentioned

Coinbase
Coinbase

Coinbase is a digital currency exchange headquartered in San Francisco, California.

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An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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