Paul Grewal, Coinbase’s chief authorized officer, debunked claims that the alternate doesn’t help Solana. In response to person X’s query about why Coinbase hates Solana, Grewal stated Coinbase has spent tens of millions of {dollars} defending Solana.
Grewal stated the Coinbase group continues to search for methods to guard Solana from assaults from the U.S. Securities and Trade Fee (SEC), which wrongly categorized the token as a safety. He added that the alternate has no intention of relenting as a result of it believes in Solana.
Mr Grewal stated:
“My group and I get up each day enthusiastic about the way to defeat this outrageous assault. We won’t cease as a result of we imagine in SOL. If it is hate, be at liberty to name me the hater. Please name me.”
This remark sparked numerous response from the cryptocurrency neighborhood, because it was the primary time that one of many alternate’s executives immediately addressed allegations that the alternate disliked Solana in favor of Ethereum.
These allegations gained momentum over the previous week after customers skilled important delays when withdrawing or depositing cash by means of the Solana community. The Coinbase group defined that these delays have been on account of infrastructure points on their facet, however many imagine it reveals that the alternate shouldn’t be prioritizing Solana.
Andrew Allen, a protocol specialist at Coinbase, additionally reiterated that the alternate would not hate Solana and really intends to make it higher. He stated the alternate would share particulars of the plan by subsequent week.
Crypto neighborhood reacts to Coinbase customers
Grewal’s feedback drew reactions from the Solana camp and the crypto neighborhood on the whole. Many Solana stakeholders, together with co-founder Anatoly Yakovenko and chief accelerator Raj Gokal, praised Coinbase’s involvement and help.
Yakovenko stated:
“The Solana ecosystem is fortunate to have @coinbase in our nook.”
Nevertheless, some customers have chosen to criticize the alternate for not supporting their tasks. Ripple XRP customers declare they weren’t offered the identical help when Ripple delisted XRP after the SEC sued the corporate in 2020.
Tron founder Justin Solar additionally requested why exchanges hate TRON Community.
In the meantime, Zen Academy founder Zeneca stated of current failures, together with delayed withdrawals to Solana and different chains, a number of locked accounts, poor customer support, and unclear token itemizing standards. He identified that Coinbase deserves criticism for a few of them.
Nevertheless, he acknowledged that the alternate stays one of many greatest champions of the crypto house and has protected the business from the US authorities and its authorities over time.
He wrote:
“However they’re nonetheless good individuals. They’ve nonetheless been advocating for our discipline and defending our business from the U.S. authorities for years now (lol). So many individuals. in opposition to the SEC and Gensler on behalf of.
Nonetheless, whereas he acknowledges that the alternate wants to repair a few of its main points, notably the person expertise, he doesn’t imagine that the alternate is “evil incarnate.”
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