Coinbase CEO Brian Armstrong expressed dissatisfaction with the Department of Justice over its investigation into Polymarket, a crypto prediction platform with strong ties to Coinbase.
Brian Armstrong's Commentary
In a now-deleted X post, Brian Armstrong expressed concern about the DOJ's actions, viewing them as politically motivated. Armstrong also suggested that the investigation might ultimately benefit Polymarket.
DOJ Investigation
The Department of Justice reportedly launched a probe into Polymarket for supposedly allowing trades from US-based clients. The FBI searched the Manhattan apartment of Polymarket CEO Shayne Coplan, seizing his phone and electronic devices.
Industry Reactions
Ryan Seam Adams, co-founder of the technology podcast Bankless, expressed concern over the FBI's raid on Shayne Coplan's apartment, stating that the authorities did not give a sufficient explanation for their actions.
The situation surrounding the Polymarket investigation has caught the attention of key figures in the crypto industry, potentially influencing future regulatory developments in this field.
