While the SEC's pressure on cryptocurrency exchanges continues, an interesting move came from the CEO of the largest US exchange.
Coinbas CEO Brian Armstrong, who has made many bold posts about cryptocurrencies from his social media account, has started to delete his old posts.
According to the account named Pledditor, Armstrong's posts were also deleted from archive sites. For this reason, all the shares deleted by the famous CEO cannot be accessed.
DELETED: the @brian_armstrong archive@brian_armstrong has deleted most of his tweets and the WayBackMachine has deleted their achive of all of them as well.
The goal of this thread is find links via alternative archival services to all his old tweets. pic.twitter.com/9pz1Fhtdxx
— Pledditor (@Pledditor) July 10, 2023
No explanation has yet been received from Brian Armstrong regarding the deleted posts.
According to Pledditor's findings, some of the deleted posts are as follows:
- Armstrong advocates increasing the Bitcoin block size and announces that Coinbase supports the controversial BitcoinXT. He thinks that the price increase in Bitcoin is also related to the block size.
- Armstrong RTs the post that Bitcoin Cash will surpass Ethereum's market cap.
- Armstrong states that altcoins exist to distract and focus on Bitcoin and its sidechains.
- Coinbase employee Charlie Lee asks Armstrong to list the Litecoin he created, Armstrong says ok let's do it.
- A day before Charlie Lee announced that he had sold all of his LTCs (2017 peak), Armstrong posted a post called “employee trade policy”.
- The price is up 4% after Coinbase lists Ethereum and Armstrong shares rocket and moon.
- Armstrong claims that USDT is not fully collateralized.
Although Brian Armstrong's deletion of his posts about cryptocurrencies caused a short-term panic, it was evaluated that this move may be related to a recommendation from lawyers.
The SEC's lawsuit against Coinbase alleges that the exchange violated securities laws. At this point, it is considered that such a measure may have been taken to prevent Brian Armstrong's old shares from being used against Coinbase in the case.
The SEC filing claims that Coinbase made billions of dollars by illegally facilitating the trading of cryptocurrencies.
