'Black Swan' Author Closes Account on Coinbase as Exchange Ignores Complaints
Shutterstock
Main page News, Bitcoin, US Market, US, Exchange, Cryptocurrency Exchanges, Regulations

Lebanese-American essayist, former option trader and author of the Black Swan book Nassim Nicholas Taleb has said on his Twitter page he closed personal account on Coinbase as the exchange ignored to respond to errors related to the recent outage amid bitcoin's price surge.

Coinbase Crashes Amid Bitcoin Massive Price Drop

Nassim says the exchange ignored his support tickets but answered only when he tweeted with the help of his verified Twitter account.

The author of the Black Swan, one of the most influential books since World War II, also added the exchange even failed to close his account correctly as the whole process was "messed up."

Nassim's statement comes as the US-based cryptocurrency exchange went down amid bitcoin's price pump, which boosted the price of the cryptocurrency above the $10,000 mark.

Twitter analytic @CryptoWhale supposed that the exchange has a built-in algorithm that turns off Coinbase every time bitcoin is experiencing a $500+ move in a short period of time.

Earlier iHodl reported the exchange decided to cut by almost 90% the reward it gives to its users for storing the cryptocurrency on the platform.

Coinbase denied explaining why it made such a decision. However, other industry players have taken similar steps.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close