Coinbase CEO accuses Apple of antitrust behavior, calls for crypto-compatible phones

Posted:
in iOS edited April 2022
Coinbase's CEO and co-founder Brian Armstrong has called out Apple over "potential antitrust issues" on a recent episode of the Superstream Podcast.




Armstrong appeared on the April 20 episode of Superstream Podcast to talk about the current state of cryptocurrency, entrepreneurship, and the company he cofounded: Coinbase.

Coinbase is a cryptocurrency exchange platform on desktop and mobile, allowing users to purchase and exchange popular cryptocurrencies. The Coinbase App is the 18th most popular Finance app on the App Store, as pointed out by 9to5mac.

When asked if Coinbase would release its own cryptocurrency hardware wallet, Armstrong pointed out that he does not believe that most people would carry a separate wallet used solely for crypto.

He states that most people would be more comfortable using something inside of their phones. However, he believes that big tech -- and goes as far as naming Apple specifically -- doesn't allow features that would be required to make a user-friendly phone-based wallet plausible.



"Apple so far has not really played nice with crypto, they've actually banned a bunch of features that we would like to have in the app, but they just won't allow it -- so there's potential antitrust issues there."

While Armstrong doesn't say what features have been banned, he does go on to say that he believes crypto-compatible phones will be necessary in the future and that they could become popular.

This isn't the first time that Armstrong has spoke out against Apple, either. In 2020, he argued that Apple's App Store regulations stifle innovation in the cryptocurrency space.

While Coinbase may not be allowed to have all the features it wants, several Apple-specific features are available to Coinbase users.

In June 2021, the crypto-based Coinbase Card became eligible to be used in Apple Wallet. The card allows users to spend cryptocurrency as cash across the globe.

Users can also buy cryptocurrency on Coinbase with Apple Pay.

Read on AppleInsider

Comments

  • Reply 1 of 19
    StrangeDaysStrangeDays Posts: 12,834member
    "Apple banned stuff but I can't tell you what but I can tell you it's an anti-trust issue!" Hmm.
    12StrangersBeatsJaiOh81qwerty52doozydozenchiathtspliff monkeywatto_cobra
  • Reply 2 of 19
    docbburkdocbburk Posts: 109member
    Next he is going to cry about parents not giving their kids allowances in Crypto, or schools not accepting crypto payment for school lunches.  Sorry, but crypto will always be shadier than using a credit card or debit card, or even cash. Not about to put one cent in crypto on principle.  Investing in crypto will increase cavalier of if.  Remind me what form or payment were the hackers who were encrypting hospitals, police departments and other computer systems demanding for the ransom? That would be crypto.  So, big fat no.  Also not going to invest in NFTs or Pokémon cards.  
    12Strangersrobin hubermwhiteqwerty52tokyojimudoozydozenkillroyspliff monkeywatto_cobra
  • Reply 3 of 19
    cpsrocpsro Posts: 3,192member
    World accuses Brian Armstrong of operating a Ponzi scheme and accelerating the destruction of our habitat. 
    thtkillroyspliff monkeywatto_cobra
  • Reply 4 of 19
    robin huberrobin huber Posts: 3,949member
    Crypto, the criminals choice. 
    danoxlkruppqwerty52tokyojimudoozydozenwilliamlondonkillroyspliff monkeywatto_cobra
  • Reply 5 of 19
    DAalsethDAalseth Posts: 2,783member
    docbburk said:
    Next he is going to cry about parents not giving their kids allowances in Crypto, or schools not accepting crypto payment for school lunches.  Sorry, but crypto will always be shadier than using a credit card or debit card, or even cash. Not about to put one cent in crypto on principle.  Investing in crypto will increase cavalier of if.  Remind me what form or payment were the hackers who were encrypting hospitals, police departments and other computer systems demanding for the ransom? That would be crypto.  So, big fat no.  Also not going to invest in NFTs or Pokémon cards.  
    Same here. When crypto first appeared the folks over at TheMacObserver were really into it. So I started looking into it, reading articles, both from economists and the people who were pushing it. After a few months of study I decided to never touch crypto. Everything I read about it just screamed scam. Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    danoxqwerty52doozydozenkillroybeowulfschmidtwatto_cobra
  • Reply 6 of 19
    crowleycrowley Posts: 10,453member
    I'm very disappointed in Apple over this.

    Why on earth have they allowed the Coinbase Card to be added to Apple Wallet?

    Ban all of this bozo's apps.
    rob53DAalsethqwerty52killroymuthuk_vanalingamwatto_cobra
  • Reply 7 of 19
    So, snake oil money man accuses Apple of protecting their customers from scams. 

    Video at 11.
    BeatsJapheyqwerty52doozydozenkillroyspliff monkeywatto_cobra
  • Reply 8 of 19
    BeatsBeats Posts: 3,073member
    A little off topic but I want Apple to add “Stock+“ to their services.
    watto_cobraJanNL
  • Reply 9 of 19
    JapheyJaphey Posts: 1,767member
    Beats said:
    A little off topic but I want Apple to add “Stock+“ to their services.
    What service would you like a Stock+ app to provide?  For Apple to go all-in with Financial Services by making it an online brokerage with the ability to trade, like an E-Trade? A Stocks API, so that apps like Robinhood could tie into it? Real time quotes? A portfolio tab?  None of the above? 

    I’m not trolling, I am genuinely curious. Although I’ve always thought the Stocks App could be more than it is, I’ve never actually given much thought as to how until your post. 
    doozydozenwatto_cobra
  • Reply 10 of 19
    crowleycrowley Posts: 10,453member
    Japhey said:
    Beats said:
    A little off topic but I want Apple to add “Stock+“ to their services.
    What service would you like a Stock+ app to provide?  For Apple to go all-in with Financial Services by making it an online brokerage with the ability to trade, like an E-Trade? 
    30% management fee  :D
    doozydozenkillroy
  • Reply 11 of 19
    22july201322july2013 Posts: 3,564member
    I don't even trust Uber because I have no way to validate that the driver has purchased the right level of vehicle insurance (i.e., business, instead of personal.) Therefore I certainly wouldn't trust crypto, yet.

    At this point the only crypto I would trust is one that is run by a government that I trust. But the only "governmental crypto" I'm aware of right now are in Venezuela and China. The only thing I trust those countries to be is malicious.
    killroywatto_cobra
  • Reply 12 of 19
    bloggerblogbloggerblog Posts: 2,462member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
  • Reply 13 of 19
    danoxdanox Posts: 2,804member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
    No thanks Ponzi…..
    killroywatto_cobra
  • Reply 14 of 19
    22july201322july2013 Posts: 3,564member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
    Like you, I often think about going back in time and making money from my knowledge of the future. This concept was addressed quite well in BTTF2...


  • Reply 15 of 19
    crowleycrowley Posts: 10,453member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
    So?  I'd rather be poor than a crypto bro.  I value my pride.  Not a lot, but enough to go nowhere near this ridiculous and destructive fad.
    edited April 2022 killroymuthuk_vanalingamwatto_cobra
  • Reply 16 of 19
    p-dogp-dog Posts: 131member
    Another d*ck with his hand in a cookie jar wants household cookie jar lids (and those who use them) banned or regulated. Thank you…next!
    tokyojimukillroywatto_cobra
  • Reply 17 of 19
    jimh2jimh2 Posts: 611member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
    That’s easy to say after the fact. Moving forward it means nothing no matter how great the past history. Like a good number of things being early counts for a lot. By the time others figure this out the stellar growth is gone. 
    killroywatto_cobra
  • Reply 18 of 19
    DAalsethDAalseth Posts: 2,783member
    DAalseth said:
    Now what ten years, fifteen years later, my mind has not changed. I won’t go near the stuff. I keep thinking if the saying attributed to PT Barnum. 
    Had you invested $1 in crypto 12 years ago, it would be worth $20,000 today. No matter how you slice that, it still beats any currency or commodity growth on the face of this plant. 
    Quite likely, over the years there have been a lot of scams, frauds, and simple “shady deals” that I could have gotten in on early and made money from.
    I don’t do that.
    muthuk_vanalingamwatto_cobra
  • Reply 19 of 19
    bloggerblogbloggerblog Posts: 2,462member
    I see a lot of people missed out on crypto. I missed out too but do admire those who didn’t and walked away with millions. Have a couple of friends who did that, and they definitely do not regret it in any way shape or form. 
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