Coinbase chief legal officer Paul Grewal moved to debunk claims that the exchange does not support Solana. In response to an X user asking why Coinbase hates Solana, Grewal said that the exchange had spent millions of dollars to defend Solana.
According to Grewal, the Coinbase team continues to find ways to defend Solana against the attack from the US Securities and Exchange Commission (SEC), which wrongfully classified the token as a security. He added that the exchange does not plan to relent because it believes in Solana.
Grewal said:
“My team and I wake up every day thinking about how we defeat this outrageous attack. And we aren’t stopping, because we believe in SOL. If that’s hate, feel free to call me a hater.”
The comment has generated plenty of reaction from the crypto community as it marks one of the first times that one of the exchange’s top executives has directly addressed the allegations that the exchange hates Solana and prefers Ethereum.
These allegations gained momentum over the past week after users experienced major delays when withdrawing or depositing through the Solana network. While the Coinbase team explained that these delays were due to some infrastructure issues on its end, many believe it shows that the exchange does not prioritize Solana.
Coinbase protocol specialist Andrew Allen also reiterated that the exchange does not hate Solana and, in fact, plans to do better. He said the exchange would share more details on its plans by the next week.
Crypto community reacts to Coinbase users
Grewal’s comment has attracted reactions from the Solana camp and the general crypto community. Many stakeholders on Solana, including the co-founder Anatoly Yakovenko and chief accelerationist Raj Gokal, praised Coinbase’s involvement and support.
Yakovenko said:
“The solana ecosystem is blessed to have @coinbase in our corner.”
However, some users chose to criticize the exchange for not supporting their projects. Ripple XRP users claim that the exchange did not offer them the same support as it delisted XRP after the SEC sued the company in 2020.
Tron founder Justin Sun also asked why the exchange hates TRON Network.
Meanwhile, Zen Academy founder Zeneca noted that Coinbase deserves to be called out for some of its recent failures, including late withdrawals to Solana and other chains, several locked accounts, bad customer service, and unclear standards for listing tokens.
However, he admitted that the exchange is still one of the biggest champions of the crypto space and has been defending the industry against the US government and its authorities for years.
He wrote:
“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.”
Still, he acknowledges that the exchange needs to fix some of its major issues, particularly its user’s experience, but he does not consider them to be the “evil incarnate.”
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