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Vandana Malik
Jul 14, 2020
by Vandana Malik

Coinbase Receives Contract From US Secret Service, Exchange for License

Coinbase
According to a public record, it has been revealed that Coinbase has received a contract from the U.S. Secret Service. This contract has been given to the firm in exchange to the license which allows them to use the analytics of the company. There were a lot of other potential firms as well that have applied to receive this contract. This license that has been provided to the agency will allow them to have access to the toll for the next four years. The firm has given this license to the agency until 2024 at the price of $183,730.

Coinbase Analytics was never available to anybody

With this, it also came out that this Coinbase Analytics has never been available to any single person other than Justin Mart. He is a developer in a firm which is based in San Francisco. He has revealed that all the analytics that the firm displays has been taken out from the information that is available in the public domain. It has been seen that even the user's license for using its software was not available publically. This is the reason why the hashtag #deletecoinbase was started, the users have decided to delete their accounts.

Coinbase suffered losses to their customer base

Now after this action taken by the customers, Brian Armstrong, the CEO of Coinbase has said that his firm fills a gap between fiat and cryptocurrencies. However, this is not for the first time when the firm has suffered the loss of its customer base. Back in the previous month, when the company sold licenses to the IRS and DEA, a lot of customers decided to close their accounts with the firm. Coinbase is also aiming towards launching an IPO in the next few months. However, after much outrage by the customers, it seems that the company is not going to see any positive development.

Have seen a few articles talking about Coinbase Analytics - figured I would share my thoughts on it, since I don't think it's particularly newsworthy - and lots of conjecture out there.

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    Coinbase Receives Contract From US Secret Service, Exchange for License
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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