Coinbase Blocks All Russian Accounts, Probably Steals Their Money

See.

I told you people about Coinbase.

I was banned from Coinbase in 2015 – not that long after being banned from PayPal and credit card processors.

Their CEO has come out and made noises about censorship and cancel culture, yet his actions have always been to go along with the program.

New York Post:

Crypto trading platform Coinbase said Monday it has blocked more than 25,000 digital wallets linked to “Russian entities or individuals” — a move that came as the company aimed to tackle concerns that cryptocurrencies could be used to evade sanctions imposed over the Ukraine invasion.

Coinbase took action against accounts “we believe to be engaging in illicit activity, many of which we have identified through our own proactive investigations,” the company’s chief legal officer Paul Grewal said in a blog post.

“Once we identified these addresses, we shared them with the government to further support sanctions enforcement,” Grewal added.

Grewal said Coinbase “fully supports” the international economic sanctions imposed on Russia following its invasion of Ukraine. The sanctions have included measures targeted at specific state-sponsored businesses and banks, as well as a group of individuals that includes the country’s richest oligarchs and President Vladimir Putin himself.

Those 25,000 accounts were all owned by oligarchs and government officials?

Obviously not.

There was no “research.” These blockchain analysts are horrible and never figure anything out. The Jews hire them to analyze me and keep saying I have $500,000, but won’t give the address. I keep hoping that they’re right and I forgot about $500,000 I’ve got stored somewhere, but in actuality, the analysts are all just scam artists.

They just banned anyone who registered with a Russian passport or from a Russian IP and possibly anyone with a Russian last name.

None of these sanctions are targeted specifically at the Russian government or even rich Russians – they are just targeted at Russians.

Even if it was just rich Russians – they aren’t explaining what these people did. The Germans seized a guy’s $600 million yacht, and just said they did it because he is allegedly friends with Putin. They didn’t explain what he did wrong.

To be fair, Coinbase was under serious threat here.

The company detailed its action as US lawmakers and others question whether sanctioned Russians could use crypto platforms to evade the economic restrictions. The White House’s National Security Council and the Treasury Department approached leading platforms about taking preventative steps, Bloomberg reported last week.

Separately, a group of four Senate Democrats, including Sen. Elizabeth Warren of Massachusetts, asked Treasury Secretary Janet Yellen to detail her plan to ensure crypto platforms aren’t used by Russians slapped with sanctions.

Coinbase CEO Brian Armstrong has publicly opposed calls to ban Russian from using the cryptocurrency platform entirely — arguing the exchange is a tool as the value of the ruble plummets in response to the sanctions.

“Some ordinary Russians are using crypto as a lifeline now that their currency has collapsed,” Armstong tweeted last week. “Many of them likely oppose what their country is doing, and a ban would hurt them, too. That said, if the US government decides to impose a ban, we will of course follow those laws.”

Yeah, great job standing up, faggot.

Armstrong? Armweak more like.

There is no law, there is an inquiry.

Cryptocurrency isn’t regulated or recognized as currency. So it doesn’t fall under sanctions, unless it was under some clause about “evading sanctions,” in which case that would only apply to international trade.

Furthermore, whether or not a Russian personally “supports” the liberation of Ukraine or not is a nonsensical metric. This is literally attempting to regulate people’s thoughts. What if a person tries not to feel empathy for the Russian military, but is unable to push out of their mind the fact that Putin was left with no options in order to defend Russia? Then you’re sanctioning them for thoughts and emotions that they have no control over.

So I guess in that sense, it makes more sense to just sanction all Russians, based on their ethnicity, as determining what a person feels or thinks is not possible.

If Coinbase is “suspending” these accounts, they are presumably keeping any money left in them, and turning it over to the government.

I noticed a couple of retards saying they didn’t care about Germany stealing that guy’s yacht, and I was like “bro, are you a retard?”

Of course seizure of property doesn’t have limits once it starts.

Russia should nationalize all foreign assets in the country, straight up. They should just send in the police to any building owned or rented by any Western company (or individual for that matter) and just tell them they have to leave the country with nothing but the clothes on their back, everything else is now property of the Russian government.

Related: Binance Refuses to Freeze Russian Crypto Accounts