• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
  • 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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
Advertisement

‘Centralized Exchanges Are Cancer’: Coinbase Shuts Gab Social Network’s Account

Allen Scott by Allen Scott
5 years ago
in News, Altcoins, Bitcoin, Bitcoin Acceptance, Bitcoin Exchange, Ethereum, News teaser
0
Advertisement

Gab, a social network messaging platform that describes itself as a place “where people, free expression, and individual liberty come first,” has announced that its Coinbase account was suddenly closed by the popular US-based crypto exchange. 


Gab: Centralized Exchanges ‘Contradictory to Everything Crypto Stands For’

Gab is a relatively young social networking platform launched in August 2016 as a response to censorship controversies involving major social media companies — such as Facebook and Twitter — which founder and CEO Andrew Torba calls “the entirely left-leaning Big Social monopoly.”

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

It has been battling this “Big Social Monopoly” in court with a legal fund that accepts donations in PayPal, Bitcoin, and Ethereum. In an email to Breitbart Tech, Torba claimed the Gab Legal Fund “will be used to directly explore any and all legal options against the anti-competitive actions of the Silicon Valley oligopoly.”

Now, the alternative social network announced that Coinbase has closed its account on the exchange — presumably used to send, receive and cash out cryptocurrencies — without providing any specific explanation.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Gab, meanwhile, slammed the move, calling the centralized cryptocurrency exchange “cancer,” saying:

Coinbase has banned Gab’s account. Centralized crypto exchanges/wallets are cancer and contradictory to everything crypto stands for.

Social commentator Kevin Pham, however, believes he may know why the San-Francisco based exchange decided to shutter Gab’s account. Pham pointed to a recent tweet from Gab that suggested “crony capitalism” could have been behind yesterday’s SEC announcement that Ethereum is not a security.

Is it a coincidence Coinbase closed your account after this tweet?

Also what surveillance mechanisms is Coinbase using to determine whether a user is "encouraging hate"? https://t.co/hUMxWvWjDs

— Kevin ''DELETE COINBASE'' Pham (@_Kevin_Pham) June 15, 2018

Pham also encouraged others in the cryptocurrency space to sign up for Gab just in case “Twitter tries to silence us.” 

Meanwhile, other users encouraged Gab not to use Coinbase and set up their own wallets controlling their own private keys. “There are plenty of open source options you can just install and run without having to use any third party,” @username0ne wrote, continuing:

Utilize the censorship resistance of Bitcoin which allows you to be your own bank, and not use Coinbase.

Bitcoin, Crypto, and Censorship-Resistance

Torba created the alternative social network “after reading reports that Facebook employees suppress conservative articles.” His platform got a significant boost to its user base in November 2016 following permanent suspensions of conservative activist accounts such as Breitbart writer Milo Yiannopoulos.

The platform, however, has been accused by critics of being supportive of white supremacists and the alt-right.

Gab

On its website description, Gab vehemently opposes suppression of online speech. “Censorship and closed systems are ultimately about two things: destruction and control,” it reads. “Censorship does not create value, it annihilates it.”

In line with its anti-censorship ethos, the social network has unsurprisingly embraced Bitcoin, which can be used to transact without trusting middlemen and third-parties. In fact, it even launched its own Gab Token ICO, raising over $5 million to date in an effort to build the next-generation social network focused on supporting free speech online.

“Gab Tokens will represent tokenized equity in Gab AI Inc and are not a ‘utility token’ of any nature,” its ICO website explains. “We believe that, like many of our users, investors in Gab will be supportive of a crowdfunding campaign that champions a truly democratic approach to raising capital.”

Do you support Coinbase’s decision to close Gab’s account? Share your thoughts below! 


Images courtesy of Shutterstock, gab.ai, Twitter.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Allen Scott

Allen Scott

Allen is the editor-in-chief at Bitcoinist.com. He has a background in journalism and economics and had his Bitcoin "Aha!" moment in 2013. He has interviewed some of the most prominent experts, entrepreneurs and thought-leaders within the cryptocurrency space. Send your leads, tips or interview requests to: [email protected]

Related Posts

AGIX

SingularityNET (AGIX) Surges 26.84% Following Partnership with Cardano

4 hours ago
Bitcoin BTC BTCUSDT

Will Bitcoin See A Valentine’s Day Massacre Or Can Bulls Get Back To $24,000?

10 hours ago
Bitcoin

Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode

16 hours ago
Bitcoin BTC

Will Bitcoin And Ethereum Crash? DCG Sells Grayscale Trust Shares

18 hours ago
Bitcoin

Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

1 day ago
AI tokens institutional investors

AI Tokens Lead Crypto Market Gains As Institutional Investors Bet Big On The Technology

1 day ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    15 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    15 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    15 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    16 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    16 hours 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
  • NAGA

Categories

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

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 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
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • 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
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 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.