Coinbase has denied animosity against Solana, amid claims that it does not support the company. The company’s chief legal officer Paul Grewal debunked these claims after a user asked why the company hates Solana. The CLO mentioned that contrary to what the user thinks, Coinbase has spent millions defending Solana.
According to Grewal, the company has continued to defend Solana against attacks, especially from the United States Securities and Exchange Commission (SEC), after the agency wrongfully called the token a security. He mentioned that the exchange will not relent, highlighting the belief it has in Solana.
The allegations have been rife over the last few weeks after users encountered issues depositing and withdrawing through the Solana network on the exchange. While coinbase has explained that the issues are due to infrastructure issues, users are running with the idea that the exchange does not like Solana.
Crypto community reacts to Coinbase CLO’s claims
The comments by Grewal have generated a lot of buzz in the crypto community because this is the first time that a company executive is coming out to address allegations of favoritism between two companies. Coinbase protocol specialist also lent his voice, noting that the company plans to do better and the issues do not mean that they hate Solana.
Solana co-founder Anatoly Yakovenko also dropped a comment, noting that the company is glad that it can count on Coinbase. However, other users have claimed that the company is supporting select tokens, noting that the exchange delisted XRP when it first had issues with the SEC.
Zen Academy also called out the exchange over its recent failures, noting that it locked users’ accounts without reason, the Solana issues, and others. However, he mentioned that the exchange remains at the top when it comes to helping the industry against the US government agencies. “But they’re still the good guys. They’ve still championed our space and defended our industry against the fucking United States government for years lol. Stood up to the SEC and Gensler on behalf of so many,’ he added.