Framework Ventures Cofounder Accuses Coinbase of ’Destroying’ Retail Crypto—Here’s Why
Coinbase faces blistering criticism from a top crypto VC—just as retail traders scramble for alternatives.
The accusation: Framework Ventures cofounder Vance Spencer dropped a bombshell claim that Coinbase's policies are gutting Main Street's access to crypto markets. No specifics given—just Wall Street-style vagueness with maximum impact.
Context clues: This comes amid Coinbase's push for institutional products while retail users face higher fees and support delays. Classic 'innovator's dilemma'—or just greed?
Bottom line: When VCs complain about 'retail destruction,' check their portfolio for competing exchanges. Crypto's favorite pastime: biting the hand that feeds, then shorting it.
When the rapper was asked last year if his FLOCKA coin on Solana had a fair launch in light of ZachXBT’s findings that 40% of its supply was sniped beforehand, Flame claimed there had been an “Operation Take Down Flocka” against him.
Pollak said he’s also spoken with the rapper and believes Flame, whose real name is Juaquin James Malphurs, was “convinced” to launch a coin by a team that then “rugged him.”
“Do I wish he had been able to see through the scammers in the first place and not made the mistake? Absolutely,” Pollak said.
“But do I think we should blackball an earnest, talented creator and musician who someone else scammed […] and who, rather than giving up, doubled down on figuring out how to use onchain to do good in our space? Absolutely not.”
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