Saturday, September 23, 2023

Coinbase CEO Brian Armstrong asked his 1.2 million followers on Twitter on Wednesday evening if any Coinbase customers that are Bank of America clients have had their accounts closed because of their transactions with the exchange.

Armstrong had become aware of rumors circulating on Twitter about suspicious account closures at the banking giant, which some users believed were tied their cryptocurrency activity.

While 19.3% answered Armstrong’s query “no,” a whopping 9%, which would translate into roughly 1,200 people given there were 13,746 respondents to the question as of press time, said “yes.” The rest didn’t participate in the poll but were solely interested in seeing the results.

Armstrong’s tweet comes after bitcoin layer-2 platform Stacks co-creator Muneeb Ali tweeted on Wednesday that his personal Bank of America bank account was closed without any reason given. Ali claims, however, that it was due to the transactions on Coinbase he made through the account to buy and sell bitcoin.

“This is war on bitcoin and crypto,” Ali tweeted. “We won’t stay silent.”

Several people with similar cases of sudden account closures at Bank of America have used Twitter to share their frustration in recent weeks, though the closures were not necessarily tied to their crypto activity.

One user tweeted on Tuesday that their account was shut down without any notice or explanation, even after several attempts to reach a customer representative at the bank. The person had not made any crypto transactions, however, they told CoinDesk.

Edited by Nelson Wang.

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