Coinbase refused to issue to customers ...

Coinbase refused to issue bitcoin hard fork tokens to customers

  • The California court sided with Coinbase, which refused to issue bitcoin hard fork tokens to customers

  • Coinbase refused to support Bitcoin Gold hard fork due to closed source code

  • How the exchange disposed of clients’ tokens remains unknown

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The California Court of Appeals sided with the American crypto exchange in connection with its decision not to support the bitcoin hard fork in 2017

Clients of the American cryptocurrency exchange Coinbase will not receive tokens of the Bitcoin Gold (BTC) hardfork, which happened in 2017. This decision was reached by the California Court of Appeals.

Claimant Darrell Archer, who filed a lawsuit against the crypto exchange in March 2018, claimed that Coinbase violated user agreement due to its position on the Bitcoin Gold hard fork.

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Then the exchange announced that it would not support the hard fork, since the developers of the project did not provide open source, regarding this step as a “serious security threat”.

Archer also stated that the exchange had been holding BTG tokens for a long time for its own benefit..

No agreement

By the time the BTG token appeared, the plaintiff already had 350 bitcoins on Coinbase, and the exchange’s refusal to transfer BTG tokens, according to Archer, is a violation of the agreement.

However, the Californian appellate court did not see a violation of the user agreement, since Archer was unable to prove the existence of the Coinbase agreement to provide users with Bitcoin Gold tokens..

The court ruled that the existing user agreement did not grant Archer the right to new coins and did not require Coinbase to support the Bitcoin hard fork..

On moment of writing BTG / USDT price is $ 10.50.

In the spotlight

In early June, the host of the Keiser Report TV show on the Russian RT channel and former trader Max Keizer said that Coinbase is technically nothing more than a technical “casino” that needs to be regulated accordingly..

Coinbase has long been known for its controversial customer service policies.

In early 2020, the exchange found itself in the center of criticism due to extremely inflated fees for staking Tezos token (XTZ).

Many clients of the exchange were outraged to learn that the platform charges them a 25% commission for using the staking service..

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Coinbase refused to issue to customers ...

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Coinbase refused to issue to customers ...
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