Coinbase CEO responds to app push notification criticism: Adults have the freedom to manage their own money, while acknowledging the need for better information disclosure and user protection

Odaily Planet Daily News Zcash founder Zooko posted on platform X, stating that apps like Binance and Coinbase have started pushing gambling-style features such as sports betting and Bitcoin price predictions to young, inexperienced, and financially vulnerable users.

Coinbase CEO Brian Armstrong responded, stating that adults should be free to spend their own money as they see fit, as long as they do not harm others. Buying stocks, buying Bitcoin or Zcash early is also seen by many as gambling, as risk is subjective. Brian Armstrong also stated that aggressively marketing high-risk products to inexperienced users is still not appropriate. This issue can be mitigated through clear information disclosure, AI-driven financial literacy tools, and personalized user experiences. Users can set their preferences during the registration process, and the application should reflect those preferences. On topics such as sports prediction markets, society should ultimately decide which behaviors are permissible, and private companies should not unilaterally draw these boundaries.