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Coinbase Shades Binance in Controversial Tweet

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Fri, 07/02/2021 - 17:26
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Alex Dovbnya
Coinbase took a dig at Binance's predicament with regulators in a recent tweet
Coinbase Shades Binance in Controversial Tweet
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U.S. cryptocurrency exchange Coinbase has just thrown some major shade on Binance, its biggest competitor, on Twitter.

The trading platform has proudly stated that it has never been hacked or shut down, adding that it’s the “safest” place to trade crypto.

Coincidently, the tweet comes after the Financial Conduct Authority barred Binance’s U.K. division from conducting any regulated activities in the country.  

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Binance—which suffered a hack back in 2019—is now facing severe regulatory scrutiny, with watchdogs from Britain, Canada, Japan, the Cayman Islands all cracking down on the exchange within the same week.

On July 2, Thailand's SEC also filed a criminal complaint against the largest cryptocurrency exchange.

The Coinbase tweet expectedly backfired, with pseudonymous Bitcoin developer Cobra urging the exchange not to tempt fate.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.