August 13, 2020
Coinbase, a cryptocurrency company withdraws from the American Blockchain Association after Binance US exchange joined in.
The result was taken based on the actions of the association during the past few weeks. While the letter does not mention Binance US, The Block’s sources think the resignation is connected to the exchange’s admission to the association.
“We hope the Blockchain Association remains committed to its values, but unfortunately, recent weeks have shown us that the association is not interested in adhering to the membership criteria that we have developed to support the organization’s mission,” the letter stated.
In the statement, Wong added that “the decisions now made could undermine the credibility of the association.”
The Blockchain Association also declared that it was disappointed with Coinbase’s parting. “However, we believe it is important to adhere to our established criteria for neutral membership and respect the views of the majority,” the organization said.
Binance US refused to state Coinbase’s departure.