Blockstream CEO Adam Back Slams Coinbase, Here’s Why

Blockstream CEO Adam Back has called out Coinbase Exchange as a Bitcoin-hating trading platform over its perceived refusal to process BTC donations to the Donald Trump campaign organization.

Lightning Network Makes History

The whole conversation started when Bitcoin Magazine unveiled that the Lightning Network has made history as the first to process BTC payments for former US President Donald Trump. This milestone is considered another major avenue to showcase the growing adoption of key industry innovations by top politicians in the US.

As the biggest crypto trading platform in the country, many expected Coinbase would play a major role in helping to receive the payments. Weighing on the conversation, the Blockstream CEO said OpenNode, a Bitcoin infrastructure startup for business payments process is schooling Coinbase since the American trading behemoth cannot accept BTC.

An X user made an attempt to defend Coinbase, noting that accepting BTC payments is a complicated issue for the exchange owing to its regulatory scrutiny. It is worth noting that despite Coinbase’s industry positioning as a publicly traded firm, it still has multiple legal battles

with the United States Securities and Exchange Commission (SEC).

While this might have been a fair getaway point for Coinbase, Adam Back chose to view things differently. He noted that the main reason behind Coinbase’s woes is because the outfit prioritizes the listing of “shitcoin.”

“no it’s really not complicated. it’s intentional. they hate bitcoin and want to promote shitcoins. there was some flimsy excuse given by another coinbase person a few months ago. which wouldn’t apply to donations but payments, and was also bullshit,” Back said in follow up posts.

Beyond Bitcoin: Coinbase Banter is Growing

The criticism and claims from the Blockstream CEO is coming despite the multiple listing from the trading platform with claims it adheres to the strictest listing standards. From earlier Coingape reports, the firm added full trading support for Shiba Inu (SHIB), FLOKI and BONK in the past week, solidifying the memecoin support claims from Back.

Besides this, Coinbase is known for network congestions, one that halts some of its operations on occasions. Many industry voices have slammed the trading platform for refusing to invest in the right infrastructure that can handle its growing user base.