Bitcoin Forum

People accusing Coinbase of selling customers' trading activities. This way, the central banks can trade against that big customer's account.

https://www.youtube.com/watch?v=BroUt5KUy9o

he likes brave? prrfff

i found lots of articles about it. certainly if coinbase is going to provide tools then its indeed true that they are going to sell your data to the government. obviously the tools are going to be using the data and its probably they'd have a look to some other exchanges too. its this time that DEX are going to be making a noise!!

Problems with coinbase are alarming but i never thought it as a trading platform anyway. It was always just easist place for beginners to buy their bitcoins from. Well there are others as well but Coinbase has been around so long that i think it has been reliable enough.

And with selling blockchain analysis software to the IRS, i really don't see what's the fuzz about, they would get that data eventually.
Or do people really think that exchanges that are dealing with fiat money and cryptos shouldn't comply with regulators? By all means, but how long would these exchanges last? If you think this is bad, wait for them enforcing the travel rule (https://complyadvantage.com/knowledgebase/fatf-travel-rule/).

We know how Coinbase builds their reputation and maintain it for many years and I can't imagine how Coinbase does this claims. But I can't judge directly even though the people had put Coinbase in question in regards to the selling issues until it has proven. Besides, the government could gather an individual's information even without the use of any exchanger. I don't know how central banks talk to the team and ruining their reputation instead of keeping it known and having a good market image

how would that even work?!

even if Coinbase sells user activity to a big evil bank, that imaginary evil still has the "history" not the future and you can't trade against the history. not to mention that the "history" is already publicly available through charts and the trade history the exchange reveals.

additionally bitcoin market may be small but it is not that small so that one "big customer" becomes that important to follow...
to make it even worse, Coinbase doesn't share that much of the total market volume (i think it is about 6% of total volume) to be effective.

Just got a concversation about switching to an other exchange on Twitter. Got some feedback that it´s hard to find something similar to CB in the states, especially when you are not in New York. Is that true? In Europe and Asia it´s pretty easy to find a suitable exchange, DEX or not

Looks like a conspiracy theory as there is no evidence or article i have seen regarding this. If there is real evidence then coinbase can be taken to court and i do not think that they will risk selling customer trading activities when they are earning a good reputation and customers and they can make profit with the trading and customer revenue alone.

Coinbase will give your trading activities only if someone found that you are using their platform for illegal activities other than this coinbase have no relationship with banks and they can't even do anything if you are trading activity is huge as long as you keep the profits recorded and paying taxes accordingly.