Disappointed Coinbase left the Blockchain Association
Yesterday, August 11, Coinbase announced an emergency exit from the American Blockchain Association, reports The Block, referring to an official letter from the cryptocurrency exchange.
Coinbase Disappointed with Association Decisions
It is with considerable disappointment that I am tendering my resignation from the Board of the Blockchain Association, effective immediately. My resignation also serves as notice of Coinbase’s withdrawal from the Blockchain Association, including all working groups and any ongoing initiatives."— wrote Hermine Wong.
The reason for the exit could be Binance US
Experts associate such an early decision with the recent entry into the Association the Binance US, which became known on Monday, August 10. And although the official letter does not contain a word about the American division of the competing exchange and only criticizes the organisation's decisions in recent weeks, The Block journalists associate this with Binance US.
"And while we hope the Blockchain Association remains committed to those values, unfortunately, recent weeks have demonstrated to us that the Blockchain Association is not interested in the membership criteria we had worked to establish to underpin the mission of this organisation," - wrote Coinbase.
According to Wong, these “decisions of recent weeks” threaten the reputation of the Blockchain Association. The organisation itself commented on the departure of Coinbase, stating that they were disappointed with the decision, and Binance US refrained from making any statements.