Controversial social media site banned by Coinbase; stirs up crypto Twitter

05 Jan, 2019 | Updated: 05 Jan, 2019
by Will Heasman
Exchange
Controversial social media site banned by Coinbase; stirs up crypto Twitter

Popular yet divisive crypto exchange, Coinbase has caused a rift on social media after the broker banned a controversial, self-proclaimed “free speech” social network (and its founder) from using its services.

This is the second time in less than a year that Gab, the social network in question has been banned from using Coinbase; Back in June last year a similar event happened with Coinbase closing the social network’s account, apparently without any reasoning, Gab responded by calling Coinbase and other centralized exchanges “cancer”:

“Coinbase has banned Gab’s account. Centralized crypto exchanges/wallets are cancer and contradictory to everything crypto stands for”

Now it appears history is repeating itself, with Coinbase banning both the Social network’s account and that of its owner, Andrew Torba:

The account closure came a few hours after a Tweet from Gab championing decentralization and damning censorship from exchanges:

This perceived “censorship” from Coinbase caused a stir in crypto Twitter: 

Torba created Gab in a bid to circumvent censorship from social networks such as Facebook, who Torba believes “suppress conservative articles". Some controversy surrounding Gab has arisen in the past thanks to a lack of moderation; leading to some calling the social network a “haven for white supremacists”. 

However, regardless of Gab’s politics, Coinbase’s seemingly arbitrary account ban does raise some valid questions as to the motives of the popular exchange.

Read more: Youtuber Dr Jordan Petersen moves from Youtube to BitTube following daughters banTime magazine cites Bitcoin's "liberating potential"

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