Coinbase CEO Responds to App Push Notifications Criticism: Adults Have the Freedom to Manage Their Own Money, While Acknowledging the Need for Stronger Information Disclosure and User Protection

Odaily Planet Daily News: Zcash founder Zooko posted on platform X, stating that apps like Binance and Coinbase are beginning to push gambling-like features, such as sports betting and Bitcoin price predictions, to young, inexperienced, and economically disadvantaged users.

Coinbase CEO Brian Armstrong responded, saying that adults should have the freedom to spend their own money as they see fit, as long as they do not harm others. He noted that buying stocks, purchasing Bitcoin or Zcash early on may also appear gambling-like to many, as risk is subjective. Brian Armstrong also stated that aggressively promoting high-risk products to inexperienced users is still inappropriate. This can be mitigated through clear information disclosure, AI-driven financial literacy tools, and personalized experiences. Users can set their preferences during the registration process, and applications should reflect their wishes. Regarding topics like sports prediction markets, society should ultimately decide which behaviors are permitted; private companies should not be the ones drawing these lines.