Coinbase CEO Responds to App Push Notification Gambling Feature Criticism: Adults Have Freedom to Spend Money, But Admits Need for Better Disclosure and User Protection

CoinFeed June 28 news, Zcash founder Zooko posted on X platform that the Coinbase App has started pushing gambling-like features such as sports betting and Bitcoin price prediction to young, immature, and economically disadvantaged users, and he feels ashamed to be in this industry. In response, Coinbase CEO Brian Armstrong replied that adults should be free to spend their money as long as they do not harm others. Buying stocks, early purchase of Bitcoin/Zcash, also seems like 'gambling' to many people, and risk is subjective. Having said that, it is still not appropriate to heavily promote high-risk products to inexperienced users. Offering products and making them the focus of the app are two different things.