Coinbase just locked ALL users out of buying, selling, and transferring crypto.
Although Brian Armstrong had no issues selling $550M worth of his shares.
Here's what happened:
> Technical glitch from 10:07 to 11:26 PST
> Users couldn't touch their own money
> Q4 results: $667M net loss
> Shares dropped 8% after hours (thank Brian)
Let me repeat: while YOU couldn't access YOUR money, the CEO was cashing out HIS.
Look... i have been saying this for years.
Crypto CEXes are just TradFi banks dressed in a different suit.
You remember what happened with FTX, right?? From $32 billion to $0 overnight.