• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
Bank of America

Bank Of America Accused Of Anti-Crypto Activity, Coinbase CEO Reacts

Semilore Faleti
by Semilore Faleti
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In the latest development today, a multinational investment bank, Bank of America (BofA), has been accused of perpetrating anti-crypto moves. 

Around the early hours of the day, Muneeb Ali, co-founder of the layer-1 blockchain Stacks, tweeted via his Twitter handle that the Bank of America had closed down his personal account with them without giving a definite reason.

The Stacks co-founder alleges that this move by the American banking giant was in response to him conducting Bitcoin transactions with Coinbase using that account. In addition, he claims this action should be considered as a declaration of war on Bitcoin and crypto in general. 

Coinbase CEO Responds, Runs Poll To Confirm Allegations Against Bank of America. 

Following the alarming statements by Muneeb Ali this morning, there has been a plethora of reactions, with the most notable being from the Coinbase CEO, Brian Armstrong,  one of the key figures in the crypto space by virtue of Coinbase being the largest US cryptocurrency exchange. 

Related Reading: BREAKING: Former Celsius CEO Arrested, SEC Files Lawsuit

In reaction to the strong allegations leveled against the Bank of America, the Coinbase CEO has put out a poll asking users to confirm if they’ve experienced similar issues with the accused bank.

At the time of writing, the poll has received 11,820 responses, with only 9% voting “Yes” and 19% voting “No.” Meanwhile, 75% opted just to view the results. 

Could There Really Be A War On Crypto?

As of now, the Bank of America is yet to issue an official statement in response to the damning allegations by Stacks co-founder Muneeb Ali. 

However, Dogecoin Advocate and Engineer Timothy Stebbing have suggested that the reported account closure by the Bank of America is a growing trend across traditional financial institutions in the Western world. 

He tweeted that this trend appears to have been triggered by the recent lawsuits the United State Securities and Exchange Commission (SEC) lodged against the Binance and Coinbase exchanges, respectively. 

This started with amazing synchronicity when the SEC sued binance / coinbase, at financial institutions all across the west.

I’ve heard the same from regular people in different countries, and any business that even sounds like it touches crypto RN is being rejected by banks in… https://t.co/JtTf66e2C9

— Timothy Stebbing (@tjstebbing) July 13, 2023

While this may be an interesting take, especially considering the recent regulatory crackdowns by the SEC, there is barely any evidence suggesting that traditional financial firms are against the crypto space. 

Over the last few years, major financial institutions across the world have shown some form of embracement toward the cryptocurrency industry. 

Related Reading: Bitcoin Spot ETF Gets New Headwind As SEC Chair ‘Pours Cold Water On Coinbase SSA’

Currently, several asset managers are interfacing with the SEC as they look to secure approval to launch the first US Spot Bitcoin ETF. Among these companies include BlackRock Inc. – the world’s largest asset manager – Fidelity Investments, Valkyrie Investments, etc. 

In other news, the general crypto market cap is down by 0.23%, with Bitcoin declining by 0.87% in the last 24 hours. At the time of writing, the market leader is trading $30,701. 

Bank of America

BTC Trading At $30,701 On The 4-Hour Chart | Source: BTCUSD Chart On Tradingview.com
Featured Image From Bloomberg, Chart From Tradingview
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Semilore Faleti

Semilore Faleti

Follow

Semilore Faleti works as a crypto-journalist at Bitconist, providing the latest updates on blockchain developments, crypto regulations, and the DeFi ecosystem. He is a strong crypto enthusiast passionate about covering the growing footprint of blockchain technology in the financial world.

Full Profile

Related Posts

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 1)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 1)

1 minute ago
Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (October 1)

Bitcoin Hyper ($HYPER) Live News Today: Latest Insights for Bitcoin Maxis (October 1)

1 minute ago
The Best Crypto to Buy as the SEC May Allow Tokenized Securities.

The Best Crypto to Buy as the SEC May Allow Tokenized Securities

3 hours ago
sec crypto altcoin etf

SEC Halts QMMM Trading After 959% Surge on Crypto Treasury Manipulation Concerns

4 hours ago
circle, crypto

Circle And Deutsche Börse Partner To Boost Stablecoin Adoption In Europe

5 hours ago
Stablecoin

Stablecoin Crackdown: European Central Bank Gathers Backing For Joint Issuance Ban

7 hours ago

Premium Sponsors

Press Releases

  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    2 hours ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    1 day ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    5 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.