‘Centralized Exchanges Are Cancer’: Coinbase Shuts Gab Social Network’s Account

Gab, a social network messaging platform that describes itself as a place “where people, free expression, and individual liberty come first,” has announced that its Coinbase account was suddenly closed by the popular US-based crypto exchange. 

Gab: Centralized Exchanges ‘Contradictory to Everything Crypto Stands For’

Gab is a relatively young social networking platform launched in August 2016 as a response to censorship controversies involving major social media companies — such as Facebook and Twitter — which founder and CEO Andrew Torba calls “the entirely left-leaning Big Social monopoly.”

It has been battling this “Big Social Monopoly” in court with a legal fund that accepts donations in PayPal, Bitcoin, and EthereumIn an email to Breitbart Tech, Torba claimed the Gab Legal Fund “will be used to directly explore any and all legal options against the anti-competitive actions of the Silicon Valley oligopoly.”

Now, the alternative social network announced that Coinbase has closed its account on the exchange — presumably used to send, receive and cash out cryptocurrencies — without providing any specific explanation.

Gab, meanwhile, slammed the move, calling the centralized cryptocurrency exchange “cancer,” saying:

Coinbase has banned Gab’s account. Centralized crypto exchanges/wallets are cancer and contradictory to everything crypto stands for.

Social commentator Kevin Pham, however, believes he may know why the San-Francisco based exchange decided to shutter Gab’s account. Pham pointed to a recent tweet from Gab that suggested “crony capitalism” could have been behind yesterday’s SEC announcement that Ethereum is not a security.

Pham also encouraged others in the cryptocurrency space to sign up for Gab just in case “Twitter tries to silence us.” […]

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