Coinbase CEO Criticizes Chase UK’s Crypto Transaction Ban

Key Takeaways

* Brian Armstrong condemns Chase UK’s decision to restrict crypto-related transactions

* The move prompts dialogue with UK officials regarding the country’s crypto policy

* The ban poses challenges for Coinbase’s expansion ambitions in the UK


Brian Armstrong, the Chief Executive Officer of the major United States-based cryptocurrency exchange, Coinbase, has expressed disapproval over Chase UK’s recent decision to halt all crypto-related transactions. Armstrong shared his criticism publicly through a post on X (formerly Twitter) on September 26, 2023, describing Chase UK’s move as “totally inappropriate.”

Reaction to Transaction Ban

Armstrong’s comments came in response to the news that Chase UK, a subsidiary of JPMorgan, has resolved to decline all customer transactions related to cryptocurrency, citing a high level of fraud associated with crypto transactions as the primary reason. The bank confirmed this stance to Cointelegraph on the same day. According to Chase UK, customers attempting to carry out crypto-related transactions will receive a declined transaction notification.

In his post, Armstrong urged crypto holders in the UK to close their Chase accounts as a form of protest against this restrictive measure. He also beckoned UK officials, including Prime Minister Rishi Sunak and Economic Secretary Andrew Griffith, to evaluate whether Chase UK’s actions align with the broader policy goals of the country concerning cryptocurrency.

Implications for Coinbase

This development could potentially hinder Coinbase’s aggressive expansion efforts in the UK and Europe. According to the official website of Coinbase, the platform supports transactions in the UK, alongside the US, Europe, and Canada. In April 2023, Coinbase had expressed its serious commitment to expanding its operations in the UK and Europe. This ambition, however, may face challenges given the restrictive stance of major financial institutions like Chase UK towards cryptocurrency transactions.

While the UK and European markets present significant growth opportunities for Coinbase, the firm has also been dealing with legal hurdles in the US. Notably, in June 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase, alleging violations of securities laws.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

Image source: Shutterstock


Tagged : / / / / / / / / / /

Cointelegraph has launched an Accelerator program for innovative Web3 startups

New York, United States, 10th January, 2023, Chainwire

The program aims to help Web3’s rising stars boost their media presence, community growth and brand awareness in exchange for project tokens.

The Web3 space is growing rapidly and new startups are emerging daily, with investment into Web3 projects skyrocketing to $30 billion in 2021 and around $36 billion in 2022.

While many Web3 founders have great ideas and a strong value proposition to bring to the space, this is a challenging field riddled with competition and a lack of trust from the broader audience.

Founded in 2013, Cointelegraph has grown to become a world leader in the digital assets, metaverse and emerging technologies media space, with over 20 million readers worldwide. 

The company is now looking to help other rising stars reach their full potential and is delighted to introduce its Accelerator program — a startup booster leveraging the company’s capabilities as a strong media and strategic partner, including content, branding, network, marketing, investor relations and much more.

What is the Cointelegraph Accelerator program?

Cointelegraph Accelerator will leverage the expertise of the global Cointelegraph team, which consists of over 150 professionals working across and developing global media products in 11 different languages.

The program focuses on decentralized finance, nonfungible tokens, GameFi, Web3 social, cross-chain and layer 2 solutions, as well as other segments of the broader Web3 industry. It has already onboarded over a dozen companies and publicly opened the application process for new candidates. 

While many accelerator programs focus on advisory, followed by monetary investments, Cointelegraph takes a different route. Participants will be able to receive contributions from Cointelegraph in the form of media products available in our ecosystem including advertorials, individually tailored special projects, educational materials, native content integrations and much more. 

One of the program’s key features is that it will be run by a separate commercial arm independent of Cointelegraph’s editorial team. Startups will be able to participate in the program in exchange for their projects’ native tokens or equity, subject to specific conditions. By doing so, Cointelegraph will align its interest in the project’s success and growth in token value with supported teams.

Strategic support in the program will typically run from nine to 24 months and will be based on the participating startup’s roadmap milestones, marketing and strategic goals. With long-term success in mind, Cointelegraph will leverage its vast partner network to offer a comprehensive, 360-degree marketing strategy to support the program’s portfolio of projects. 

This support comes in various shapes and forms, depending on each individual project’s needs. Cointelegraph can offer support in marketing, branding and introductions to investors, exchanges, mentors, market makers, technological partners and online and offline events.

Paul Solntsev, Head of Cointelegraph Accelerator, said: “We are excited to expand our product suite with the Accelerator program, bringing more knowledge and education to our worldwide audience, especially regarding emerging tech startups and evolutions in Web3.”

Paul continued: “We welcome companies with strong convictions and innovative projects to apply for the program and join our partner network to bring long-lasting value to the industry.”

How to participate 

Cointelegraph is looking to support projects in their early stages of development that have already designed a product ready for market, usually between pre-seed and Series A stage. A well-outlined roadmap and project documentation with clearly defined utility for the token are also required.

To become part of the Cointelegraph Accelerator program, projects should visit the official Accelerator program website, where they can familiarize themselves with Cointelegraphs offers as a recognized media leader and brand establishment partner. From there, they can also apply.

For more information or additional comment, please contact: 


Alexandra Kay


Tagged : / / / /

Wachsman Appoints Cointelegraph CEO Jay Cassano as Chief Growth Officer

Wachsman, a major global public relations firm serving the Web3 and financial technology sectors, announced Monday for the appointment of Cointelegraph CEO Jay Cassano as the company’s new Chief Growth Officer.

Cassano will be responsible for spearheading innovation, working across Wachsman’s global network to scale new service verticals, including community management, content marketing, social media services, and digital marketing to support the company’s growing base of Web3 and fintech clients.

Cassano worked at Cointelegraph crypto media firm as Editor-in-Chief for one year before becoming its CEO. Cassano’s other significant accomplishments at the crypto media company include launching CT Studio, the media company’s marketing and branding agency.

Before joining Cointelegraph, Cassano served as a staff reporter at Fast Company and as an investigative journalist at Newsweek, among other editorial positions.

Wachsman Founder and CEO, David Wachsman, talked about Jay’s appointment: “Jay is an exceptional talent, possessing a unique mix of leadership and Web3 expertise, coupled with an in-depth understanding of the media and omni-channel marketing. With Jay’s leadership, we will be able to deliver even more integrated and impactful programming for our clients globally.”

Why are Crypto Executives High Demand?

Despite the crypto downturn, fintech and related companies have been keen to hire talents with relevant skills as they aim to add expertise to their blockchain projects. In the recent past, crypto firms from Bitpanda, Coinbase, BlockFi Inc., among others, slashed massive jobs positions. But many crypto workers with the right skills are finding themselves in demand at the heart of the finance industry.

This month, Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co., announced plans to hire staff with blockchain experience. And they are not the only ones. Many other related tech firms are also interested in hiring people with experience in the technology that underpins cryptocurrency, a market that continues to grab the attention of banking clients and regulators.

The downturn in crypto trading, with low transaction activities and slow hiring, has become an opportunity for traditional financial and tech firms. Most of these firms have avoided the spot market for cryptocurrencies due to regulatory uncertainty. But they are developing alternative ways to trade the volatile asset class while exploring wider uses for the blockchain in areas like web3, payments, and supply chains.

A crypto worker’s prospects depend on their previous role. Tech, security, compliance and client management staff are particularly in high demand, especially for executives with the most sought-after skills.

Image source: Shutterstock


Tagged : / / / /

Bitwise launches NFT index fund for accredited investors

In an effort to democratize access to nonfungible tokens, art collections and other digital assets of value for the masses, Bitwise Asset Management launched its new index fund on Dec. 16.

As per the announcement, the Bitwise Blue-Chip NFT Index Fund is designed to allow accredited investors to invest in major nonfungible tokens and art collections.

The NFT industry has exploded in 2021. Retailers throughout the world purchased millions of dollars worth of CryptoPunks, drawing institutional and accredited investors. In the third quarter of 2021, NFT trading volumes surpassed $10 billion for the first time.

The crypto firm stated that the Bitwise Blue-Chip NFT Index Fund is now available to qualified investors for private placement subscriptions. The minimum investment is set at $25,000. While speaking on the new development, Bitwise CIO Matt Hougan stated that:

“New frontiers in the art are rare. Entirely new artistic mediums are even rarer,” said Bitwise CIO Matt Hougan, adding that NFTs have emerged as the first digitally native medium for owning art and collectibles, “with enormous potential for meaning, value and use in our increasingly digital world.”

Bitwise launched several new crypto products in 2021 to satisfy the increasing demand, owing to the fast-changing digital asset industry. The firm announced the debut of its Crypto Industry Innovators exchange-traded fund (ETF) in May 2021.

In July, major American institutional investors contributed $70 million to the crypto index fund manager in order to beef up its balance sheet and double the size of its staff.

Related: Bitwise CIO ‘not so sure’ about Bitcoin hitting $100K in 2021

The phrase “NFT” was coined in 2017. Although little known at the time, two highly significant NFT projects, CryptoPunks and CryptoKitties, were launched in 2017. Propy sold the first NFT home. This was the beginning of NFT’s widespread adoption, which coincided with the cryptocurrency bull market cycle.