Coinbase CEO Responds to Zcash Founder Criticism on Betting Prompts

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6 days ago

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User Choice Debate: Coinbase CEO Brian Armstrong emphasizes that adults should have the freedom to use their funds, although he acknowledges the need for caution in promoting high-risk products to avoid impacting inexperienced users, reflecting the complex balance between user protection and freedom of choice on platforms.
High-Risk Product Warnings: Armstrong points out that Coinbase's sports prediction markets are offered through a registered futures commission merchant and warns users that these contracts involve high risks that could lead to total investment loss, demonstrating the company's commitment to compliance while expanding its product offerings.
Increased Regulatory Pressure: As Coinbase expands into sports prediction markets, it faces legal challenges from various states, particularly a lawsuit from Kentucky regarding its products, highlighting the complexities and uncertainties surrounding the legal framework of the crypto industry and its future direction.
Enhancing Technology and Transparency: Armstrong proposes using clearer disclosures, AI-based financial literacy tools, and personalized settings to help users better manage risks during their usage, indicating the company's strategic focus on user education and safety.

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Technical Analysis for ZEC

Technical Sentiment Analysis for Zcash (ZEC). As of , Zcash (ZEC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 2 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ZEC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, ZEC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Zcash (ZEC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	260.508	314.269	368.818	422.579	477.128	530.889	585.438
Fibonacci	314.269	355.643	381.205	422.579	463.953	489.515	530.889

About ZEC

Zcash is a decentralized cryptocurrency focused on privacy and anonymity. It uses the zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.Contrary to a common misunderstanding, the majority of cryptocurrencies on the market, including Bitcoin (BTC), are not anonymous, but rather pseudonymous; while they do not explicitly reveal the identities of their users, each user has their own public address or addresses which can be traced back to them via the methods of data science and blockchain forensics.Zcash transactions, on the other hand, still have to be relayed via a public blockchain, but unlike pseudonymous cryptocurrencies, ZEC transactions by default do not reveal the sending and receiving addresses or the amount being sent. There is an option, however, to reveal this data for the purposes of auditing or regulatory compliance.Zcash was first released on October 28, 2016, and it was originally based on Bitcoin’s codebase.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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