Coinbase found a hole in their pocket.

Updated: Jul 28, 2021


You go to the store and When you reach into your pocket and unexpectedly find "I have no money" ; You get a sinking feeling. Either I left my money at home, someone picked my pocket , or...... I have a hole in my pocket.
Don't you just hate that feeling. So what do you do? Well let's see how this turns out.

Dear Coinbase,

Let's play a game. Which of the 3 options below would fit your predicament best.

a. I lost my money

b. someone stole my money

c. I have no money


No Fun peeking. Please answer the question.

Seems as if your time is up and now we go to the penalty round. This is the part of the game where you get to stand in front of a federal court, (naked) and answer the question. Where is my money? And since you will have no pockets ( full disclosure) you may want to pick the winning answer which is C.


The fun part of this will be the social cost where one of your investors took you to court and now you may have to sell your organs to pay the penalty round. Anyway, see you in court. If you don't have the address on your Waze, you can copy it here . California Northern District Federal Court.

.COMPLAINT against AH Capital Management LLC, Marc L Andreessen, Brian Armstrong, Surojit Chatterjee, Coinbase Global, Inc., Frederick Ernest Ehrsam III, Paul Grewal, Alesia J. Haas, Kathryn Haun, Jennifer N. Jones, Kelly Kramer, Paradigm Fund LP, Gokul Rajaram, Ribbit Management Company, LLC, Tiger Global Management, LLC, Union Square Ventures, LLC, Viserion Investment PTE LTD., Fred Wilson ( Filing fee $ 402, receipt number 0971-16206740.). Filed byDonald Ramsey.(Jasnoch, John)

A Forbes Report stated it this way.

“At the time of the Offering: (1) the Company required a sizeable cash injection; (2) the Company’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as the Company scaled its services to a larger user base.”



Oh, by the way. If you remember; you have been there already and this may seem like deja vu. These six guys claim you owe them some money too, Seems as if they took a ride on your wheel of fortune and when they got to the brass ring; it would not turn loose. Hellava ride when you get jerked off your horse trying to claim your prize.


Anyway, I must disclose I have an account with Coinbase. I cannot reach out to them as it takes 30-45 days before they will reply with a generic email. By that time, we will have multiple trips on this big rotating ball and I will be amused by some other crisis. Something that I can do or work with rather than something that I can only observe and speculate about. DYOR as this is just an opinion .



 

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