Crypto News Bulletin from bitcoinmagazine

Monday March 4, 2019 8:58 PM
2 weeks 5 days ago

Coinbase Bought Neutrino Because Its Old Analysis Providers Sold User Data


Coinbase’s Director of Institutional Sales, Christine Sandler, said in an interview last week that, in part, the exchange acquired controversial software firm Neutrino because its prior blockchain analysis providers were selling customer data.“The compelling reason for making the acquisition was that Neutrino had some industry leading, best in class technology. It was important for us to migrate away from our current providers. They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage to keep the data safe and protect our clients,” Sandler said in an interview with Cheddar.In its current privacy policy, Coinbase asserts that it only shares customer information with third parties for fraud prevention and legal compliance as well as for “bill collection, marketing, and other technology services.” The same active policy says that they will personally never sell client information, transaction or personal, and nor will these third parties.https://twitter.com/J9Roem/status/1102240022055604224Sandler’s slip up tells another tale. If her statement is true, then Coinbase may have inadvertently violated its terms of use. Coinbase users believed that their data was only being shared for regulatory purpose, not being monetized, as Jill Carlson points out on Twitter:“Selling data is very different from collecting it for regulatory purpose...

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