The Coinbase allegations expose Bitcoin's corporate governance gap
BTC when published $82,693Now $80,595 ▼ −2.54% since it was published
BlockTower Capital founder Ari Paul publicly accused Coinbase of losing roughly $25 million of his firm's assets and concealing hacks totaling more than $1 billion across a dozen institutions. Coinbase flatly denies it, Paul says active litigation prevents him from publishing his evidence, and the industry has spent the weeks since arguing about who is telling the truth. The argument misses the most uncomfortable fact in the story: nobody outside the two parties involved can check. That is a strange place to land for an industry built on an asset designed so that no one would have to take anyone's word for anything.
First reported by CoinDesk. This page is a short excerpt; the full text is theirs.
