Blockstream CEO Adam Back has criticized Coinbase Exchange, accusing it of being against Bitcoin. This accusation stems from Coinbase's apparent reluctance to handle Bitcoin donations for Donald Trump's campaign.

Lightning Network's Historic Milestone

The discussion began when Bitcoin Magazine announced that the Lightning Network had made history by processing Bitcoin payments for former US President Donald Trump. This achievement highlights the increasing adoption of significant industry innovations by prominent American politicians.

Given Coinbase's status as the largest crypto exchange in the US, many expected it to facilitate these payments. However, Blockstream's CEO pointed out that OpenNode, a startup focused on Bitcoin payments, is leading the way instead, implying that Coinbase is falling behind because it refuses to accept Bitcoin.

One user on social media defended Coinbase, explaining that accepting Bitcoin payments is complex due to regulatory pressures. Despite Coinbase being a public company, it faces numerous legal challenges from the US Securities and Exchange Commission (SEC).

Adam Back's Perspective

While this explanation might seem reasonable, Adam Back had a different view. He argued that Coinbase's problems stem from its focus on promoting lesser-known cryptocurrencies, often referred to as "shitcoins," over Bitcoin.

Back stated, "It's not complicated. It's intentional. They dislike Bitcoin and prefer promoting shitcoins. Another Coinbase representative gave a flimsy excuse months ago, which doesn't apply to donations, only to payments, and even that was untrue," in his follow-up posts.

Broader Criticisms of Coinbase

The criticism from the Blockstream CEO comes despite Coinbase's claim of adhering to strict listing standards. Recently, the platform added full trading support for Shiba Inu (SHIB), FLOKI, and BONK, which Back cited as evidence of their focus on memecoins.

Additionally, Coinbase has been criticized for network congestion issues, which sometimes disrupt its services. Many in the industry blame the platform for not investing in the necessary infrastructure to support its growing user base.

In conclusion, Adam Back's critique of Coinbase highlights ongoing tensions within the cryptocurrency community, particularly regarding the prioritization of different digital assets and the platforms that support them.