We watched it cozy up to regulators and sell out user privacy.
Coinbase started out claiming to be the gateway to financial freedom.
It ended up becoming the digital middleman Bitcoin was built to replace.
Once seen as a bridge between traditional finance and Bitcoin, Coinbase has morphed into a surveillance-friendly, compliance-driven platform that prioritizes regulatory approval over user sovereignty.
🏦 The Problem with Custody
Coinbase (along with other exchanges like Binance, Kraken, Crypto.com, etc.) holds your Bitcoin for you — which means it’s not really your Bitcoin.
When you buy Bitcoin on Coinbase, what you actually get is an IOU sitting on their database until you withdraw it.
That’s not self-custody — that’s a digital bank account pretending to be Bitcoin and they can take it away from you or prevent you from withdrawing at any time.
🕵️ Surveillance Over Privacy
Coinbase has a long history of tracking and analyzing user transactions, partnering with government agencies through its now-infamous Coinbase Analytics division.
Instead of protecting users, Coinbase built tools to help authorities trace activity on the blockchain.
That’s not financial freedom — that’s surveillance-as-a-service.
🤝 Regulatory Capture in Action
Coinbase has positioned itself as the model citizen of the crypto industry — constantly lobbying for regulations, licenses, and compliance frameworks.
But here’s the truth: Bitcoin doesn’t need permission to exist.
By cozying up to regulators and embracing KYC-heavy policies, Coinbase traded privacy and decentralization for Wall Street’s approval.
💰 Shitcoin Casino
Coinbase lists and promotes hundreds of altcoins and tokens, most of which exist purely for speculation.
The more coins they list, the more fees they earn.
This casino-style business model distracts newcomers and dilutes Bitcoin’s real purpose — financial independence.
When your platform’s business model depends on endless new coins, you’re not building for the future — you’re cashing in on confusion.
🚫 Verdict: Certified Trash
Coinbase became the exact kind of centralized, compliant institution Bitcoin was designed to make obsolete.
It sells convenience at the cost of privacy, and compliance at the cost of principle.
Until Coinbase stops prioritizing regulators over users and shitcoins over sound money, it stays exactly where it belongs:
Certified Trash.