While explaining his thoughts about FTX, crypto analyst and YouTuber Ben Armstrong likened this exchange to FTX. Bitboy asked the CEO of Coinbase about the SGB airdrop.
Analyst calls out to Coinbase CEO
It’s been more than a year since Coinbase distributed Flare Networks’ SGB airdrop. However, Coinbase has not yet distributed SGB tokens to customers holding XRP on the exchange during the December 2020 airdrop.
Wait… Coinbase didn’t give $XRP holders their Songbird $SGB token distribution?
Uncle @brian_armstrong WHAT’S THE DEAL?!?!@Ripple #xrparmy
— Ben Armstrong (@Bitboy_Crypto) November 24, 2022
SGB is known as the native altcoin project of Flare Networks’ Canary network. However, Coinbase’s silence on the matter continues. Also, some of the XRP holders started a petition to get a response from the exchange.
It was reported that the crypto exchange did not make any statement.
As a result of the signature campaign, it was revealed that Coinbase did not make any statement to users for the delayed token distribution. As a result, users are reported to want the exchange to officially announce its intentions. At the same time, users additionally demand a public apology.
Coinbase will support @FlareNetworks’ Spark airdrop. Customers in approved jurisdictions who hold XRP in their accounts on the snapshot date of Dec. 12 will qualify to receive Spark tokens. We plan to distribute the airdrop after the Flare network launch. https://t.co/jEYKH1n4XB
— Coinbase (@coinbase) December 6, 2020
It is unclear exactly when users started the petition. However, it is stated that 4,715 of the 5 thousand signatures required have been collected at the moment.
Flare Networks made a statement
In July 2021, Flare Networks made a statement. According to the statement, all exchanges that promised support for the FLR drop were required to have received all SGB tokens in their FLR wallets. It is also emphasized that distribution to customers is at the discretion of these exchanges.
All exchanges that are supporting the distribution of $FLR will also receive $SGB to the same address that they provided for the $FLR distribution (but with a different chain ID). They can distribute $SGB to their customers when and if they feel comfortable to do so.
— Flare ☀️ (@FlareNetworks) July 26, 2021
Bitboy has become a keen XRP supporter lately. On the other hand, he recently criticized Coinbase CEO Brian Armstrong saying that he is trying to ruin the crypto market.
Bitboy addresses FTX and Coinbase CEO
In a video circulating on Twitter, analyst Ben Armstrong addressed the CEO of Coinbase and the CEO of FTX. Both names claimed that they are trying to destroy the crypto market. Also, Bitboy replied to a tweet from Bankless founder Ryan Sean Adams:
I don’t. It’s me who did. I’m the person here who put it behind the scenes while trying to save the crypto. These demons try to destroy him permanently while Sam Bankman roasts Brian Armstrong.
Bitboy once again responded to Ryan Sean Adam’s claim that he does not represent the crypto community:
This crazy bespectacled man is trying to tell you what to do here only people in suits know what to do. Suit only. Just people who have all the money. They determine what will happen. No, our bill is the ring.
DEX and DeFi are on the agenda
Many people agreed with SBF’s proposal for regulation that could potentially eliminate DEXs and DeFi. In addition, some users feel that Bitboy may not have the moral stance to speak for the crypto community. In particular, the conflict between Bitboy and Adams stands out. A war of words broke out on Twitter when Adams made fun of Bitboy with his Bankless interview invitation.
he thinks i’m serious
what do i say pic.twitter.com/ORxzdSInA3
— RYAN SΞAN ADAMS – rsa.eth 🏴🦇🔊 (@RyanSAdams) October 21, 2022
He said the SBF’s latest proposal would require DeFi to be compliant with the Office of Foreign Asset Control (OFAC) at the U.S. Treasury department. As a result, DEXs will need to register as brokers.
Describing SBF’s proposal as unreasonable, FTX CEO Adams commented. Adams suggested that the regulatory problem solution facing DeFi in the US is not to change the central finance rules to DeFi. According to the analyst, lawmakers should first develop DeFi regulations from the principles.
The solution isn't to apply the old CeFi rules to DeFi.
The regulation should approach DeFi from first principles.
— RYAN SΞAN ADAMS – rsa.eth 🏴🦇🔊 (@RyanSAdams) October 19, 2022
