Following the continuous debate on controversial Neutrino acquisition and the ongoing boycott of #DeleteCoinbase, CEO Brian Armstrong announced the company’s decision. Per the new announcement, the ex-team behind Neutrino has pushed out of the company.
Ex-Hacking Team No Longer Associated with Coinbase
According to the Coinbase’s official blog, the team of Coinbase with ex-team of Neutrino reached out to a final agreement that those who previously worked as its Hacking Team (irrespective of their existing relationship with the hacking firm) will be no longer working with the Coinbase. However, the blog hasn’t revealed the number of employees that are being parted – but its quite clear that the decision comes forth following the widespread criticism since its singed the deal of acquisition.
Brian in the blog, entitled ‘Living up to our values and the Neutrino acquisition‘ said;
We took some time to dig further into this over the past week, and together with the Neutrino team have come to an agreement: those who previously worked at Hacking Team (despite the fact that they have no current affiliation with Hacking Team), will transition out of Coinbase. This was not an easy decision, but their prior work does present a conflict with our mission. We are thankful to the Neutrino team for engaging with us on this outcome.
Though it seems final decision by Coinbase nevertheless to add that the firm had previously reached out via email and in person as an interview with Cheddar (as coingape reported). The team behind Coinbase goes on explaining the reason behind the acquisition was its technology given that they were aware of the background of the team. However, the impact of these responses didn’t have a positive welcome across crypto space – as a result, Coinbase has continuously appeared into criticism.
Eventually, the controversial debate has been seriously concerned and the firm had finally taken a move to parting the team of Neutrino.
Crypto Influencers Raising Eyebrows
Furthermore, its worth to note that few influential figures in crypto space such as CEO Jesse Powell from Kraken exchange, Anthony Pompliano of Morgan Creek and many others are raising their eyebrows on Coinbase’s announcement. As such, Jesse as a response to Pomp’s tweet raised a question stating that ‘its optics without action.
ehh.. not quite. It's optics without action. No timeline on transitioning people out and they're keeping the software. What will be the continued relationship after they're officially not CB employees? No resolution on the conflicting statements about having done diligence vs not
— Jesse Powell (@jespow) March 5, 2019
Although the firm discontinued its relationship with Neutrino’s ex-members, few questions are still unanswered such as Jesse’s view on their forthcoming relationship with Coinbase’s employees and so on.
All fair questions. The fact that they responded at all this quickly was actually surprising to me and I think a positive step.
Hopefully many of your questions are answered in next few days as things become clearer.
— Pomp 🌪 (@APompliano) March 5, 2019
Coinbase has been in many more acquisition deal since a year and more – but the Neutrino is the only acquisition that leads its customers deleting their accounts. Conclusively, the trading platform seeks to assure its customers that the security is essential for them. It said
Bitcoin — and crypto more generally — is about the rights of the individual and about the technological protection of civil liberties. Coinbase seeks to be the most secure, trusted, and legally compliant bridge to cryptocurrency. We sometimes need to make practical tradeoffs to run a modern, regulated exchange, but we did not make the right tradeoff in this specific case. We will fix it and find another way to serve our customers while complying with the law.
So readers. what do you think about Coinbase’s decision of pushing out a hacking team? Share your opinion with us.
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com