BTC Fans Delete Coinbase Accounts Follow Neutrino Acquisition
Everyone in the cryptocurrency space is aware of the ongoing #DeleteCoinbase battle cry. In fact, it continues to echo across Twitter. This is most especially the case after Bitcoin users decided to close their respective accounts, a move that signifies a protest to the controversial acquisition courtesy of the exchange.
The Infamous Acquisition
According to the official report, these users are disappointed with Coinbase following the acquisition of Neutrino. It is reportedly due to the blockchain analytics outfit’s executive suite, which is previously known for leading projects for the startup called Hacking Team. The latter, in particular, is infamous for selling spyware directly to a handful of governments known for their human rights abuses.
The suite includes some interesting names in the industry. These are none other than CRO Marco Valleri, CTO Alberto Ornaghi, and CEO Giancarlo Russo.
An epitome is the one that involves the partnership of the Hacking Team and the Saudi Arabian government. It even included the enforcement group that is believed to be responsible for the murder of a dissident journalist named Jamal Khashoggi.
The startup’s official website suggested that there was a hacking suite of sorts intended for the governmental interception. What is more, it describes its wares as something as close to being “offensive technology.” This spyware is also known for providing support when it comes to surveillance and/or arrests of journalists in the United Arab Emirates and Ethiopia.
Nourishing Surveillance Capitalism
No one can tell just how massive the backlash is. Apparently, the aforementioned hashtag has been able to produce more than 500 results in a single Google search alone, though not all of them are to be deemed unique. In addition, reports suggest that these results may not necessarily be there prior to the infamous acquisition.
But as far as the majority of influential figures across the blockchain world are concerned, the transaction was definitely a deal-breaker. The founder of Shiny Pony Ventures named Meltem Demirrors said that she no longer has plans of using Coinbase following the incident.
Demirrors, who is also the chief strategy officer at CoinShares, added that there are a number of services out there, most of which do not come with reputational issues. And if users are to go with one, according to her, it is best to move forward with a service that has no stain of ethical issues.
The executive further suggests that the acquisition of Neutrino only puts forward the idea that Bitcoin is going to be utilized for surveillance capitalism. As of press time, Coinbase has declined to provide a comment.