Leading cryptocurrency exchange Coinbase is currently facing a lot of pressure from the US Securities and Exchange Commission (SEC) and the California Department of Business Oversight due to a rising number of customer complaints.
As per latest findings, Coinbase has seen its customer base grow by nearly 148% within the span of a single year. Statistics show that Coinbase users grew from 4.7 million in late 2017 to a staggering 11.7 million users this year— thus clearly showcasing the company’s success and popularity.
However, this sudden spike has made it difficult from Coinbase to keep up with customer queries as well as to provide efficient back end support quickly— something that is to be expected when usage rates increase so dramatically.
While mainstream media outlets are continually using these statistics to malign Coinbase’s market reputation, if anything, these numbers showcase the rise of cryptocurrency adoption across the globe. Not only that, they also represent a growing movement of alt currency holders who are not swayed by biased media opinions that are governed by the interests of a few business elites.
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