• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency Technology

As Coinbase Looks to be the Google of Crypto, Are They Becoming the Bitcoin Mafia?

newsbtc by newsbtc
3 years ago
in Cryptocurrency Technology
Reading Time: 2min read
Coinbase
Advertisement
Listen to Article

Coinbase has made new hires and acquisitions recently with a view to dominating all aspects of the virtual currency space but detractors say they are centralizing what is supposed to be decentralized.

Coinbase is Bulking Up to be the Google of Crypto

San Franciso startup Coinbase may not be the largest cryptocurrency exchange in the world though it is widely regarded to be the most popular. But, as it moves towards including more services through internal development and acquisitions, detractors say that it is going against the unregulated spirit of Bitcoin by attempting to dominate the space.

Their recent hire of Emilie Choi, a mergers and acquisitions specialist fresh from completing eight years as head of corporate development at LinkedIn where she completed over 40 deals, sends a clear message about their intention to expand.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Choi is upfront about her strategy to emulate what Google did in their early days by acquiring talent and products to allow Coinbase to grow in all directions using the technology at hand.

Presently Coinbase’s portfolio offers four main services, it’s original cryptocurrency exchange, GDAX exchange, which is geared for institutional investment, Coinbase Custody, and an open-source browser for Ethereum developers called Toshi. Choi’s intentions are to build on these core businesses by adding services that consumers will find ’delightful’.

The cryptocurrency exchange has made three acquisitions in 2018 including the $100 million buyout of Earn, an email marketing platform that pays out in cryptocurrency when the recipient completes a set task. Days after the buyout, now former CEO of Earn, Balaji Srinivasan was made Coinbase’s first-ever CEO. Choi was quoted in Business Insider as saying:

“We’re the ultimate mullet company: business in the front, party in the back.”

Is There A Coinbase ‘Mafia’?

As Coinbase cherry picks new team members and acquires companies to help them become a one-stop shop for everything cryptocurrency and beyond, in regards to fintech services, some detractors see it’s expansion as the kind of competition crushing methods that monopolies of the early 20th century like U.S. Steel would use.

Early adapters and believers in the core principle of Bitcoin being a currency outside of the system have voiced criticism that one company would be so ‘central’ to so much of the crypto market anathema to the movement.

Spencer Bogart, partner at Blockchain Capital, was quoted alluding to the growth of and influence the cryptocurrency exchange has in the cryptcurrency market today:

“They clearly are supporting this notion of a Coinbase mafia and I don’t think that’s on accident.”

Featured image from Shutterstock.

Tags: bitcoin exchangebitcoin futurecoinbasecryptocurrency exchange
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Contested Election Results Force Discussion of Blockchain Based Voting System

Contested Election Results Force Discussion of Blockchain Based Voting System

3 months ago
jax network

Jax.Network Addresses Crypto Scalability Issues, to Create A Decentralized Consumer Payment System

3 months ago
crypto tether usdt stablecoin

No, Another $1 Billion In Tether (USDT) Wasn’t Added To The Crypto Market Cap

4 months ago
crypto

South Korean Crypto Platform ICON Launches Decentralized Passport Service

2 years ago
Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

2 years ago
Jack Dorsey Unveils Square Crypto, How Will It Help Bitcoin?

Jack Dorsey Unveils Square Crypto, How Will It Help Bitcoin?

2 years ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.