Coinbase CEO says Apple is forcing them to change their products – a report by Sahil Kohli.

The CEO of cryptocurrency exchange Coinbase alleges that Apple is stifling innovation in crypto and sidelining DeFi to protect itself from the competition.

The CEO of United States cryptocurrency exchange Coinbase, Brian Armstrong, has alleged that Apple is stifling innovation in crypto and sidelining DeFi to protect itself from the competition. In a Twitter thread published on Sept. 11, Coinbase CEO doubled down on his earlier claims that Apple continues to block some cryptocurrency developers’ functionalities. 

The CEO alleged that other cryptocurrency firms are “reluctant to speak out on these topics for fear of retaliation,” but that he feels the need to speak out as Coinbase has exhausted regular channels for dialog with Apple and has reached a “dead end.”

 

 

Apple has prohibited Coinbase from adding two specific functionalities to its iOS apps. 

According to Coinbase CEO Brian Armstrong, Apple has told Coinbase that it is prohibited from adding two specific functionalities to its iOS apps: the ability to earn money using cryptocurrency and access to decentralized finance (DeFi) apps. The first restriction, which affects the exchange’s Coinbase Earn product, has reportedly led to having to modify its app in a significantly less user-friendly way. Brian Armstrong claimed that these restrictions are specific to cryptocurrency users, tweeting, “Why would Apple want to prevent people from earning money during a recession? They seem not to be ok with it if it uses cryptocurrency.” 

For iOS users, Coinbase CEO claimed, crypto apps lack features, not because of developers’ inactivity but because those features are “being censored by Apple.”

 

Coinbase CEO had blamed Apple for being hostile towards crypto. 

Coinbase CEO Brian Armstrong had earlier tweeted that tech giant Apple continues to block some functionalities for cryptocurrencies, including being able to earn money and unrestricted decentralized application browsers. “Apple has been very restrictive and hostile to cryptocurrency over the years,” he had claimed earlier. The tech giant Apple is still blocking some functionality right now, including the ability to earn money with cryptocurrency by completing tasks, and unrestricted dapp browsers, the CEO claimed. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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