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In what has been a rather surprising development, Coinbase CEO, Brian Armstrong, has responded to Bank of America ’s alleged anti-crypto move. Specifically, Stacks co-founder Muneed Ali stated that the bank had closed his personal account with no reason given. Ali accuses the bank of closing his account because he had conducted transactions on Coinbase with Bitcoin. Subsequently, he notes the move as a retaliatory action in response to his crypto connections. Thereafter, Armstrong reacted to the development.  Any other @BankofAmerica customers seeing this? If so, not ok. See poll below https://t.co/7r4szZK1Te — Brian Armstrong 🛡️ (@brian_armstrong) July 13, 2023 Also Read: US Judge Rules Ripple XRP is Not a Security Bank of America Accused of Anti-Crypto Manuever The digital asset landscape in the United States is tricky. The regulatory landscape of the industry has been wrought with uncertainty. Subsequently, a host of companies have ...

According to a research paper released by Bank of America , the Near protocol is a member of a new generation of blockchains, including Cardano , Solana, and Polkadot, that are utilizing innovative methods to improve the “tradeoff between scalability, decentralization, and security.” The bank further went on to note the reason behind its recent inclination towards Near. The institution mentioned that developers will likely become interested in blockchains like Near. This is mainly because it offers the ability to expand functionality and reward development in the future. The sharding strategy proposed by Near “mitigates common scaling problems related to increasing centralization due to pooling and decreasing security.” This issue is usually caused due to misaligned incentives. Analysts Alkesh Shah and Andrew Moss further wrote, “Over the longer term, we expect blockchains that prioritize usability and effectively market themselves to gain market share by attracting a robust and di...