Blaming “a gap in [Coinbase’s] diligence process,” CEO Brian Armstrong writes that Coinbase “did not properly evaluate everything from the perspective of our mission and values as a crypto company.”
Coinbase’s Director of Institutional Sales, Christine Sandler, said in an interview last week that, in part, the exchange acquired controversial software firm Neutrino because its prior blockchain analysis providers were selling customer data.
Among other issues, Reporters Without Borders labeled Hacking Team (the team behind Neutrino) as one of five “Enemies of the Internet” in 2013 for its role in humanitarian abuses against journalists.
Jimmy Song explains Neutrino, a new protocol for light clients to get the data that they need while preserving privacy, without trusting a central server.
The CNIL wisely points out, “Blockchain is not always the best technology for all processing of data; it may be the source of difficulties for the controller with respect to its GDPR obligations.”