To start, the CEO of Coinbase, Brian Armstrong, indicated that regulators would be “up in arms”With Monero (XMR). Even when Binance and Kraken offer maintenance for the token.
Within this context, in an interview conducted on July 24 with Peter McCormack on his podcast “What Bitcoin Did“Coinbase CEO Brian Armstrong said he wanted to adopt a conservative approach with Coinbase. Most importantly, for the exchange to stand the test of time.
Similarly, one of these issues was evading direct conflict over privacy currencies within Coinbase, including Monero (XMR).
For his part, Brian Armstrong, CEO of Coinbase, commented to Peter McCormack, who referred to Monero (XMR) as “probably the most credible privacy currency” Now, as confidentiality coins turn out to be more recognized, Coinbase’s workforce would imagine listing them.
“I think with enough time and education, people will feel comfortable enough with that.”
He also added: “Consequently, I hope that privacy coins will become more common over time, and perhaps more privacy solutions in Bitcoin as well.“
Related to Ransomware attacks
Regardless of Bitcoin (BTC) continuing to be the token of choice for some website users, several criminals have left instructions for their victims to pay them in Monero (XMR), as a substitute. For example, the huge hacking of verified Twitter accounts and the persevering use of crypto fake raffles on YouTube.
As a matter of fact, on July 20, hackers responsible for a Ransomware attack against Argentina’s leading telecommunications company claimed $ 7.5 million in XMR or 100,000 tokens.
Argentina’s Telecom hacked and demanded rescue in Monero (XMR)
During the afternoon of July 18, Telecom, the largest telecommunications company in Argentina, was the victim of a Ransomware attack. As is known, hackers demanded $ 7.5 million in Monero (XMR), an amount that would double if the company did not pay in less than 48 hours.
From this moment on, the attack seemed not to have affected the users or the service that the company provides: landline, cell phone and Internet. Apparently, the attack was perpetrated against company-owned Windows computers and would not have affected the service networks.
Coinbase is not the only alternative
It should be noted that Monero (XMR) has been accessible to buy and sell on other major exchanges. For example, Kraken for more than three years, and Binance since September 2019.
On the other hand, South Korean crypto exchange Bithumb and Singapore-based exchange Huobi announced earlier this year that they would remove XMR from their listings, as the token was facing allegations that it was used for criminal acts.
By way of closing, Peter McCormack, indicated that Coinbase will not disappear and that it will continue to be close to users.
I say goodbye with this phrase from Frank Crane: “You may be fooled if you trust too much, but you will live in torment unless you don’t trust enough“
So should we have trust in Monero (XMR)? Leave us your opinion in the comment box.