An informational e-mail from Coinbase has raised some eyebrows amongst investors. The e-mail, sent out by the cryptocurrency exchanges, seems to be promoting Ethereum. Therefore, some investors believe it is an attempt by the most well-known exchange to influence the price of the digital asset.
Yesterday, Bitcoin Advisory founder Pierre Rochard, turned to Twitter to call out cryptocurrency exchange Coinbase. The reason: an e-mail by Coinbase that Rochard considers an “Ethereum pump email”.
The tweet from Pierre Rochard with the Coinbase e-mail:
This ETH pump email from Coinbase contains only positive spin about Ethereum.
Zero warnings, disclaimers, or disclosures. Only links are to price!
This is not a responsible way of dunning retail speculators. Crypto industry needs a big cleanup.
— PierreRochard.com (@pierre_rochard) November 18, 2018
While Pierre Rochard doesn’t seem charmed by the Coinbase e-mail, other crypto-users consider it as nothing more than a market strategy for Coinbase, used to promote a product (Ethereum) which is already listed on the exchange’s platform.
In a response to the tweet from Pierre Rochard, another Twitter user called Thomas said:
That’s crazy, so you mean to tell me a company is promoting one of the products it sells?
Of course, it is not strange for an exchange to send out informational e-mails to give users more background information about a digital asset. During a time, however, that XRP has surpassed Ethereum on the cryptocurrency rankings, the e-mail can be seen as a bit strange. Especially with the knowledge that Coinbase’s CEO, Brian Armstrong, reportedly owns more Ethereum than Bitcoin.