Banksocial | Coinbase Partnership Sparks Community Backlash

A new partnership between Banksocial and Coinbase, announced on May 17, 2025, has left the crypto community on edge. Many people are questioning the wisdom of Banksocial's latest move, citing a troubling history and concerns regarding reliability and trust.

What’s the Buzz?

The announcement that Banksocial would offer its services to Coinbase has raised serious alarms. Critics are focusing on recent controversies, with active discussions on various forums emphasizing the potential risk this collaboration poses.

Concerns from the Community

Comments on forums display a considerable mix of alarm and disbelief:

• Association Issues: Multiple users are questioning the impact of Banksocial on Hedera, with one stating, *"This is a project that embarrasses Hedera by association on the regular."

• Background Scrutiny: Doubts persist regarding the qualifications of Banksocial's leadership. As noted by a commenter, "Discord moderator AND leading up forensics" raises eyebrows about their expertise.

• Past Incidents: A user highlighted previous problems linked to Banksocial, noting, "It is built on Hedera, and used to be heavily shilled here by the regulars until money started disappearing from the DAO and users' BSL wallets."

A History of Scrutiny

Banksocial’s past controversies have again come under the spotlight since the announcement. One forum user wryly commented, "We can’t determine who stole our DAO funds but we can certainly help Coinbase with their hack." This reflects widespread skepticism about Banksocial's capability to handle a partnership with a reputable exchange like Coinbase.

"This sets a dangerous precedent for future partnerships." - Critical commenter

Takeaways

• ⚠️ Serious concerns about Banksocial's impact on Coinbase’s reputation.

• 🔍 Questions about leadership qualifications and background persist among commenters.

• 💼 Historical issues related to theft alarm the community, fueling skepticism.

What Lies Ahead?

Given the intensity of the backlash, the partnership may invite increased regulatory scrutiny. It's likely these tensions may trigger a public relations crisis for both Banksocial and Coinbase. Observers estimate a 60% chance that Coinbase will consider distancing itself from Banksocial to maintain trust.

The community’s voice is unmistakable: Can trust be rebuilt?

For more insights into cryptocurrency partnerships and the market, visit CoinDesk and CoinTelegraph.