Coinbase Provided Blockchain Analysis Software to US Secret Service. What does this mean?

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Avatar for Donkzang
3 years ago

Coinbase signed a contract with the US Secret Service, a government agency under the United States Department of Homeland Security. In. The signed document, it shows that the USSS awarded Coinbase, last May, a contract that will allow it to use its blockchain analysis software Coinbase Analytics.

For the CEOs of Coinbase, this contract would make it possible both to "make profitable" investments and "to establish relations with the police". The amount of this contract being absolutely derisory compared to what Coinbase brews daily, playing for so little with the confidence of its customers does not seem very rational. Only the second argument holds up that Coinbase is indeed preparing an IPO and needs the support of the authorities.

Coinbase collects private information about their customers, tracks their transactions before and after the platform is released, then sells this private information and public data to the police. How about that. I believd this is a way to fight the criminal acts involved with cryptocurrencies.

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