The PR nightmare triggered by Coinbase’s acquisition of a firm with spyware ties has pushed the crypto exchange into damage-control mode.
It all started when Coinbase announced the acquisition of Neutrino, a blockchain analytics firm whose executives were previously hand in glove with repressive world governments in suppressing voices of dissent.
Of course, there was no question of Coinbase walking away from an already-finalized deal with Neutrino given the possible legal consequences emanating from any such drastic move. However, the heat from the wider crypto community was probably a bit too much for the exchange to ignore.
As a result, it has now announced that the executives at the heart of this controversy “will transition out of Coinbase.”
Crypto Community Makes Itself Heard
Neutrino, which is to remain a stand-alone entity post-acquisition, is led by Giancarlo Russo as the CEO, Marco Valleri as the Cheif Research Officer, and Alberto Ornaghi as the Chief Technical Officer.