Genuinely not trying to fear monger, but as a concerned customer it would be great if @coinbase could provide clarity around the statement from one of their reps that their analytics provider sold client data to 3rd parties.
Paging @brian_armstrong.https://cheddar.com/videos/coinbase-adds-support-for-ripple-s-xrp-despite-regulatory-uncertainty …
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Replying to @jillruthcarlson @_jillruth and
Not sure what is so surprising about this?
4 replies 2 retweets 65 likes -
Selling data is very different from collecting it for regulatory purposes. I consented to Coinbase collecting my data for KYC/AML purposes. I did not knowingly consent to Coinbase collecting my data to sell to other parties.
2 replies 3 retweets 24 likes -
Replying to @jillruthcarlson @_jillruth and
Can you link to something that shows Coinbase sold data to other parties?
2 replies 0 retweets 1 like -
Replying to @lylepratt @_jillruth and
It sounds like they shared data with a contractor who needed it to do the job Coinbase asked them to do, then the contractor shared if further, now it's out of Coinbase's control. Very typical thing to happen to data, it can, has, and will happen to every major KYC/AML'd entity.
3 replies 12 retweets 60 likes -
Replying to @NickSzabo4 @_jillruth and
I get that and agree with your points in other threads that this shouldn’t be surprising. However saying Coinbase “collected data to sell to other parties” is inaccurate and unhelpful.
1 reply 0 retweets 1 like
It doesn't matter if sold it or gave it away by accident, the end effect to customers is the same, the data was shared, it's out of Coinbase's control and doubly out of the control of Coinbase's customers who shared this data to headline-epitomized strangers in the first place.
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Replying to @NickSzabo4 @lylepratt and
We need more non-custodial data solutions.
0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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