Blockstream criticizes Coinbase for denying BTC processing

The CEO of Blockstream, Adam Back, has been criticizing Coinbase Exchange for not being willing to initiate BTC processing for donations meant for Trump’s presidential campaign. He has described the company as anti-bitcoin.

It all began when Bitcoin Magazine revealed that Lightning Network had completed the exercise of processing BTC payments for the same cause. This demonstrates the extent to which US politicians are adopting new technologies.

Given Coinbase’s status as the largest trade platform in the US, one would expect the company to contribute its services towards receiving the payments. Adam Back concluded that OpenNode is to blame for discouraging Coinbase, given the company’s known anti-BTC stance. Incidentally, OpenNode is a bitcoin framework company that processes B2B payments.

Coinbase currently has its hands full of legal and regulatory issues with the Securities and Exchange Commission. Adam Back should have carefully considered and questioned Coinbase’s stance, but he has steadfastly maintained his unfavorable view of the company. He appears to view every stance and situation of Coinbase with extreme negativity, refusing to acknowledge the company’s vehement opposition to bitcoin.

Adam Back is raising all of these criticisms, despite the fact that Coinbase has made it perfectly clear that they are extremely strict about complying with registration requirements. The company is known to have provided complete backing to Shiba Inu (SHIB), as well as FLOKI and BONK, in recent times, adding credence to Adam Back’s allegations.

Coinbase has experienced network blockages in several instances. This matter has also not been favorable for the company for some time now.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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