American major cryptocurrency exchange Coinbase has barred British right-wing pundit Milo Yiannopoulos from its platform, Yiannopoulos stated in a Gab post on May 3.
Yiannopoulos is a well-known political commentator and public speaker, espousing controversial far-right views and describing himself as a “cultural libertarian”. Previously, Yiannopoulos used to be an editor for syndicated American news and opinion website Breitbart News.
Yiannopoulos’ account on Coinbase was reportedly closed within three minutes:
Screenshot of Yiannopoulos Gab post. Source: Gab
Yiannopoulos was previously banned by social media and networking platforms Facebook, as well as its subsidiary Instagram, and Twitter, according to the Guardian. A Facebook spokesperson reportedly told the Guardian that “we’ve always banned individuals or organizations that promote or engage in violence and hate, regardless of ideology. The process for evaluating potential violators is extensive and it is what led us to our decision to remove these accounts today.”
In January, Coinbase reportedly terminated the personal merchant account of Gab founder Andrew Torba. A possible reason why it is hard for Gab to obtain a payment processor is purportedly its reputation for being the social network for people banned from mainstream platforms for hate speech.
Moreover, last April Coinbase blocked the account of WikiLeaks Shop, the merchandise arm of international anonymous publishing non-profit WikiLeaks, due to terms of service violations. Last December, Julian Assange, founder of Wikileaks and international exile, urged donors to contribute to the online publication by using cryptocurrencies in order to skirt the financial ‘blockade’ by national governments.
Source: Coinbase Bans Personal Account of British Right-Wing Pundit Milo Yiannopoulos
A number of reports have drawn attention to the problems that Coinbase is facing. However, as news continues to unfold, some have argued that Coinbase may have a serious impact on the stability of cryptocurrencies.The news that has been forthcoming does, indeed, seem particularly bleak. For example, increasing fees for Coinbase pro, the news of hiring members of the former Hacking Team, and concerning altcoin additions have left a terrible taste in investors’ mouths. This has led to the crypto Twitter movement known as #deleteCoinbase.And the negative news may continue. As Coinbase continues to travel down an apparently irrational path, investors will continue to doubt its decisions. Also, with Coinbase as the ‘entry-level’ crypto exchange, suggestions that adoption could stall are of genuine concern……..
Source: Is Coinbase Killing Itself Through Centralized Policies?
Based on the current cryptocurrency market momentum, it is a bit unclear what the weekend will offer exactly. Although there is a fair bit of bearish pressure, which is only to be expected after a wild week, there is always a chance the markets will simply turn around on a dime. In the case of Dogecoin, the current trend may look worrisome, but that is not necessarily the case. Although most people would have liked to see the cryptocurrency bull run continue for months on end, that is not how most of these markets work exactly. Instead, there is always a need for a correction after strong gains in the past few days. In the case of Dogecoin, such a brief bearish trend could not be avoided altogether, although that doesn’t have to be a bad thing in the slightest. Read more…..
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The SEC-registered investment advisor Wealthfront has recently announced that it now supports Coinbase wallets and accounts. Wealthfront users will now be able to use the financial planning tool to track their cryptocurrencies. Wealthfront has created this feature as it’s one of the “most requested” by their clientele who are looking to expand into the emerging and innovative cryptocurrency sector.We want to help you optimize and automate your finances to ensure you reach your unique financial goals. To achieve that vision, we need to incorporate a comprehensive and constantly updated view of your finances. That’s why enhancements, like our new integration with Coinbase, are so important. Read more….
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