Copy link
Increase text size
Decrease text size
Link copied

Coinbase’s Neutrino acquisition draws flak, several users delete accounts

Mon, 04 Mar 2019, 11:00 am UTC

Leading cryptocurrency exchange Coinbase’s recent acquisition of blockchain analytics firm Neutrino has come under fire as some facts about the latter have come to light.

CoinDesk reported that some of the executives of Neutrino – CEO Giancarlo Russo, CTO Alberto Ornaghi, and CRO Marco Valleri – were previously involved in a startup called ‘Hacking Team,’ which was infamous for selling spyware to a number of governments known for human rights abuses.

Angry Coinbase users started circulating #deletecoinbase on Twitter, with many sharing screenshots of them closing their Coinbase accounts.


Bitcoin enthusiast Udi Wertheimer told Motherboard:

“I hope that this message makes Coinbase understand that a press release won't fix this. They need to disassociate themselves from Hacking Team if they have any hope of earning people's trust again. I don't know if this can happen, so the alternative is that people at least know about it and get to decide for themselves.”

Speaking to Cheddar, Christine Sandler, Coinbase’s head of sales, said that while the company was aware of the backgrounds of some of Neutrino’s executives, they acquired the latter as they had “some really industry leading and best-in-class technology.” Elaborating further, Sandler said:

“It was important for us to migrate away from our current providers. They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage to keep the data safe and protect our clients."

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,294.69 (-0.50%)
  • Ethereum (ETH) $170.71 (-0.55%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $273.52 (+6.50%)
  • Bitcoin SV (BSV) $215.43 (+13.38%)
  • Bitcoin (BTC) $7,294.69 (-0.50%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft