Coinbase CEO: Apple's therapy of crypto apps 'potential antitrust problem'

CEO of Coinbase Brian Armstrong says that Apple has banned options of crypto apps on its App Retailer which may very well be seen as a possible antitrust problem.

Armstrong spoke to the Superteam podcast about his and Coinbase’s journey, its launch in India, and future plans and roadmaps.

He hinted that one-day crypto buyers may someday be capable to make use of “crypto-compatible” smartphones with particular {hardware} options built-in, earlier than happening to name out Apple.

He mentioned that “Apple up to now has not likely performed good with crypto”, stating the corporate had banned a bunch of options that they want to have within the app however that the corporate would not enable.

Armstrong did not develop particularly on any such options or Apple’s particular coverage in direction of them. He has beforehand hailed Apple’s progress and the way “it empowered builders and gave cellular customers a simple approach to entry new progressive apps.” In feedback final 12 months he mentioned that he needed Coinbase to grow to be the Apple of cryptocurrency.

Crypto smartphones of the long run would seemingly have a leaning towards safety and higher integration for funds. This week, one crypto investor reported shedding some $650,000 in NFTs and crypto after handing over his Apple ID verification code to somebody posing as Apple over the telephone. This info was used to reset his Apple ID password, giving entry to iCloud keychain together with his MetaMask vault password.