In line with the exchanges embracing transparency, Coinbase Custody CEO Aaron Schnarch on Monday published a report revealing that the company held 635,000 BTC on behalf of the Grayscale Bitcoin Trust (GBTC).
In reacting to the post, CZ took to Twitter to share a four-month-old headline about Coinbase holding less than 600,000 BTC. According to the now-deleted post, CZ was merely quoting “news reports.”
Although CZ acknowledged that “Glassnode probably has more up-to-date data” his claims weren’t welcomed by the crypto community on Twitter. Shortly after his tweet, Coinbase CEO Brian Armstrong wrote on Twitter:
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Will Clemente, co-founder of Reflexivity Research stated that CZ’s tweet wasn’t a great look. Analyst, trader, and investor @360_trader tweeted that “CZ just proved today he’s all about one thing… his empire.”
Many argued that CZ failed to do his due diligence before tweeting as Coinbase’s “exchange and custody wallets are separate.” CZ reacted to Armstrong’s tweets by deleting his earlier tweet, stating that the crypto industry needs to work together. He tweeted:
The comment from CZ was frowned upon because the Binance boss failed to confirm before putting out another FUD in the middle of a severe bear market.
Read about COIN’s performance in:
Coinbase (COIN) Shares Reach All-Time Low as Crypto Stocks Continue to Get Crushed
Despite the drop, Coinbase continues to expand. Read more below:
Coinbase Commerce to Become WooCommerce’s Crypto Payment Processing Partner
See original on DailyCoin
Source: Cryptocurrency - investing.com
