Black Swan Author Nassim Taleb Closes His Coinbase Account

Popular Lebanese-American essayist and economist, Nassim Nicholas Taleb, recently revealed that he has closed his Coinbase account. Taleb, who is also a former options trader and a risk analyst, complained that the US-based exchange was uncooperative in resolving some technical issues.

Taleb Closes His Coinbase Account

Apart from being a well-known economist, Taleb is also the author of The Black Swan. It describes impossible-to-predict adverse events in all areas of life and how people could prepare to act in these situations. The book spent 36 weeks on the New York Times Bestseller list, and it was published in 32 languages.

Taleb has also been a supporter of cryptocurrencies. Back in 2019, he emphasized it by saying that he prefers staying away from cash, bonds, and stocks while being bullish on gold and Bitcoin.

“Anything that transfers currencies back to individuals in a more organic way is more efficient,”- he noted while explaining cryptocurrencies.

A few days ago, however, Taleb had experienced troubles with his recently opened account on the most popular US-based cryptocurrency exchange – Coinbase.

I closed the @coinbase account (opened a few months ago). Like Must, they answered me (blue check) when I complained but ignore the regular person. https://t.co/YqWWUQHwtc

— Nassim Nicholas Taleb (@nntaleb) June 4, 2020

It appears from his tweets that Coinbase was unable to identify and resolve his primary issue, which ultimately pushed him to close his account on the platform.

Coinbase Recent Problems

While Taleb doesn’t define the nature of his problem with Coinbase, the exchange has been somewhat troublesome as of late. More specifically, the platform has gone offline on numerous occasions when the prices within the cryptocurrency market have fluctuated significantly.

The latest such example came just days ago, as CryptoPotato reported. During a few hours of price pumps when Bitcoin surged from $9,500 to $10,500, Coinbase experienced technical issues and was not functioning.

The company didn’t disclose the precise problem but said that it was identified and fixed in about an hour.

However, since it’s essential for investors and traders to have access to their accounts at all times, especially during periods of increased volatility, occasionally going offline has brought a serious wave of discontent from the cryptocurrency community. Lots of people are complaining and looking for other – more reliable – alternatives.

Featured Image Courtesy Of New Yorker