This Week on Crypto Social Media: ‘Burn in hell,’ Facebook Acquiring Coinbase?


Each week, Blockchain News brings you the best social media tidbits, FUD and other oddities from the cryptosphere’s social media landscape.

“Burn in hell”

Ethereum creator Vitalik Buterin sparked mass outrage after an interview with TechCrunch in which he said that he hopes centralized crypto exchanges “burn in hell.”

The CEO of centralized exchange Binance, Changpeng Zhao, responded to Buterin’s comment in a tweet:

Countless tweets and news articles poured out over the war of words. One Twitter user wrote:

Bancor Hack — $13.5 Million USD Lost

Just 24 hours after Buterin’s remarks, decentralized exchange Bancor suffered a security breach resulting in roughly $13.5 million USD stolen in ether and NPXS. People were quick to point out the irony of the situation:

6-year-old on Blockchain & Crypto

Even children can grasp the basic concepts of blockchain and cryptocurrency, as this 6-year-old girl from Australia demonstrates. “Don’t give up on your bitcoin,” she says. “You have to work hard.”

Rumors of Facebook Acquiring Coinbase

In January, Facebook banned all cryptocurrency advertisements. On June 26, Rob Leathern — product management director at Facebook — published a blog post revealing that the social media site was going to be loosening some of its policies regarding crypto ads. This rollback came amidst rumors that Facebook would acquiring Coinbase, a cryptocurrency exchange.

Reactions on Twitter to the rumors varied. Philip Nunn, CEO of The Blackmore Group, advised the exchange to wait: 

The founder of City AM responded to Nunn’s tweet, comparing the situation to Facebook and Microsoft: