Cryptocurrency exchange Coinbase accused of violating confidential information

Former US intelligence officer Edward Snowden believes that cryptocurrency exchange Coinbase is overly eager to meet the requirements of regulators while ignoring the needs of its customers. At the Camp Decrypt 2022 conference, the programmer discussed the development of the Internet, which has undergone dramatic changes in recent years. Snowden warned the community about the dangers posed by the online space, which is used by corporations and governments to collect user data for their own purposes. According to the programmer, this is not a noble goal.

According to the former employee of the US National Security Agency (NSA), a similar trend is observed when working with cryptocurrencies. Snowden mentioned the cryptocurrency exchange Coinbase, which, according to the programmer, ignores the privacy policy of its clients.

It should be noted that after the FTX crash, Coinbase lost 69,000 bitcoins worth $ 1.15 billion (withdrawn by users). According to Glassnode analysts, after the bankruptcyof Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried 's brainchild, investors are increasingly deciding to withdraw their digital assets from cryptocurrency platforms. Experts say that the market has faced a similar outflow of BTC only three times — in November 2020, April 2020, and June/July 2022.

Last week, Snowden shared his thoughts on the future of the flagship cryptocurrency, saying that he is convinced that the crypto winter is over and that investors should expect bitcoin to grow. Interestingly, after the former NSA employee’s tweets, BTC $56,459.08 Bitcoin -3.08% Market capitalization $1.11 trillion VOL. 24 hours $4.5 billion immediately grew by 4%.

This is the first time in a while I’ve felt like buying bitcoin. That drop was too much panic and too little reason.

— Edward Snowden (@Snowden) March 13, 2020