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Litecoin [LTC] creator Charlie Lee: People deleting Coinbase don’t actually use it

Priya

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Litecoin [LTC] creator Charlie Lee: People deleting Coinbase don't actually use it
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Charlie Lee, the creator of Litecoin, spoke about the recent events surrounding Coinbase, in the seventeenth episode of Magical Crypto Friends. The podcast also included Riccardo Spagni aka Fluffypony, Samson Mow, and WhalePanda, the rest three members of Magical Crypto Friends.

Coinbase, one of the biggest exchanges in the U.S., has been in the headlines since the announcement of XRP listing, however, the negative news outweighed the positive ones. The negative fame started with rumors over insider trading, which broke out days after the platform listed the third-largest cryptocurrency by market cap. This gained momentum with the acquisition of a blockchain analytics firm, Neutrino, as it was revealed that the firm had an association with Hacking Team. This report led to the start of the #DeleteCoinbase movement.

Furthermore, the Director of Institutional Sales, Christine Sandler, stated that they were aware of the Neutrino-HackingTeam association, in an interview with Cheddar. To make things worse, she stated that they acquired the blockchain analytics firm because their “current clients were selling client data to outside sources”.

The controversy surrounding Coinbase-Hacking Team was soon addressed by Brian Armstrong, the CEO of Coinbase. In a blog post, he stated that the firm decided to let go of all the members previously associated with Hacking Team.



Charlie Lee said on #DeleteCoinbase,

“I thought like people have been deleting Coinbase for a while now right. I guess this Neutrino thing really brought this back out and people are like more upset about Coinbase and actually going out and deleting their accounts. But, you know, from my point of view, people who actually delete Coinbase, don’t actually use it anyways, right. So, its not really going to affect anything.”

This was followed with Riccardo Spagni, the lead maintainer of Monero, speaking about the topic. He said:

“I don’t think that the people that are deleting Coinbase are going to have more than a very minimal impact on the bottom line. […] I do think that there would be a trickle-down effect from the people that are deleting Coinbase […] So it is atleast going to provide a slow shift away from Coinbase as a first point of Contact for people wanting to get into Bitcoin.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
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Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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