Coinbase Document Reveals Bitcoin, Ethereum and Tether Bombshell Amid Fresh Crypto Price Crash
Bitcoin
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The price of Bitcoin fell below $20,000 per Bitcoin while Ethereum fell to around $1,000 per Ether—each losing more than 70% from their all-time highs.
Now, just as some bullish investors speculated that the worst of the crypto price crash might have already happened, documents have been revealed by major crypto exchange Coinbase.
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Coinbase Struggles To Maintain Revenue And Users Amidst Bitcoin, Ethereum And Crypto Prices … [+]
Coinbase’s analytics program, Coinbase Tracer, provides ICE with user data, including “historical geo-tracking data” and transaction history, according to a document obtained by the watchdog group Tech Inquiries and previously reported. The Intercept.
The ICE agreement is part of an agreement Coinbase signed with US government agencies last summer, and the document suggests Coinbase Tracer can track data related to Bitcoin, Ethereum, stablecoin Tether and other cryptocurrencies and all tokens on the Ethereum network. ERC-20 tokens.
Coinbase’s Tracer software, which analyzes millions of blockchain-based transactions, can also perform “transaction demixing and “shielded transaction analysis.” Coinbase markets the software as a way to “investigate illegal activities, including money laundering and terrorist financing,” and refers to Tracer as a “real-world Activities can be linked to entities.”
However, Coinbase denied that the information provided by the analytics software was the exchange’s customer data.
“We want to make this incredibly clear: Coinbase does not sell proprietary customer data,” the crypto exchange said Post to Twitter.
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Bitcoin Price Drops Below Psychological $20,000 Per Bitcoin Level, Pulling Down … [+]
“Our first concern is and always has been providing our users with the safest and most secure crypto experience. Our Coinbase Tracer tools are designed to support compliance and help investigate financial crimes such as money laundering and terrorist financing. Coinbase Tracer sources its information from the public and does not use Coinbase user data.
Coinbase stock has fallen dramatically over the past year as the company battles falling bitcoin, ethereum and cryptocurrency prices, regulatory headwinds and the collapse of major coins.
Last month, analysts at Wall Street giant Goldman Sachs downgraded Coinbase to “sell” – warning that the company could be on a path to “further decline” even after a devastating price drop of 80%.
