As it is known, the SEC filed a lawsuit against leading cryptocurrency exchanges Binance and Coinbase in June.
This move by the SEC is preventing banks and companies from doing business with these companies.
In this context, Brian Armstrong, CEO of Coinbase, launched a survey on Twitter about whether Bank of America has closed accounts trading with the exchange.
The CEO of Coinbase has tagged BoF, stating that he wonders if the BoF has closed the accounts of users transacting with Coinbase.
“Did Bank of America close your account because of your transactions with Coinbase? I wonder if that's the problem.”
The Coinbase CEO initiated this survey after Muneeb Ali, co-founder of blockchain firm Stacks, claimed on Twitter that his personal account at BoF was shut down after 15 years of trading on Coinbase.
Ali said that before or after his account was closed, no explanation was given to him by the bank.
The CEO of Stacks argued that the main reason his account was closed was because he used the account to trade with Coinbase for Bitcoin investments.
“So BoF just closed my personal bank account that I've been using for 15 years. No reason was given. The real reason?
For Bitcoin, I make Coinbase transactions through this account. This is a war against Bitcoin and crypto. Please RT to warn others. We will not remain silent.”
Any other @BankofAmerica customers seeing this? If so, not ok.
See poll below https://t.co/7r4szZK1Te
— Brian Armstrong 🛡️ (@brian_armstrong) July 13, 2023
The survey has received 11,820 responses so far. Approximately 9.1% of the respondents answered “yes”, stating that their accounts were closed due to transactions with the largest US crypto exchange Coinbase, while approximately 19.1% voted “no”.
*Not investment advice.