Consumer complaint received 2021-01-12
Company: Coinbase, Inc.
State: IL
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Confusing or missing disclosures

Complaint:
COPY FORWARDED TO US SEC SECURITIES EXCHANGE COMMISSION ET AL URGENT - URGENT - URGENT - URGENT - URGENT WITH OUR FAMILY ( XXXX YEAR OLD MOTHER  ) WELL BEING AND LIVES AT STAKE NOW!! 

TIMELY THUS IMMEDIATE GOOD FAITH SUBSTANTIVE REPLY DEMAND OF COINBASE AS OUR MONEYS ARE OBVIOUSLY CRITICAL TO OUR FAMILY 'S WELFARE, SURVIVAL, AND LIVES XXXX XX/XX/2021 - XXXX TO : Mr. XXXX XXXX , Coinbase CEO and Coinbase { NON or ANTI } " Customer Support '' FROM : XXXX XXXX , Investment Counsel,  Certified Public Accountant, Juris Doctor , MBA Finance , BBA Economics ( new customer with approx. {$100000.00} entrusted to Coinbase ) RE : Coinbase stonewalling and flat out refusal to even reply at all in any meaningful good faith communication despite dozens of desperate pleas - all utterly bizarre and beyond belief CC : SEC ( US Securities Exchange Commission ) and other regulatory and enforcement agenicies of federal and state government Dear Mr. XXXX XXXX, Coinbase CEO and Coinbase { NON or ANTI } " Customer Support '', we are utterly stunned and shocked that coinbase effectively has ignored or stonewalled us when after a few months we have approx. {$100000.00} in your fiduciary custody and care. 

despite reaching out and pleading countless times coinbase has still stonewalled us. 

this is absolutely bizarre, unethical, and unconscionable. 

as noted previously, coinbase left us no choice but to reach out to regulators and enforcement authorities. 

this was in desperation as anyone would do. 

as such we contacted multiple agencies and others such as the US-SEC as noted here with their recent reply. 

this is coinbase 's doing and we have no other alternative as coinbase refususes to even communicate with us to date. 

beyond bizarre and beyond belief. 

please ask yourself what would you do it you had {$100000.00} entrusted to a company that plans to do and IPO yet fails to communicate with customers? 

again, please, why won't coinbase respond to our ongoing countless please for communication. 

all our communications are now being forwarded to the SEC et al as coinbase left us no alternative. 

please see SEC reply to us just now. 

we will continue working with SEC and other enforcement agencies. 

we can not in good conscience sit back and allow coinbase to abuse us and others and want to be a publicly traded and owned company. 

we strongly advise coinbase to reply in good faith to our now endless pleas and answer our simple common sense customer questions. 

this email also is forwarded to the SEC XXXX XXXX Attorney Office of Investor Education and Advocacy U.S. Securities and Exchange Commission www.sec.gov www.investor.gov XXXX thanks for nothing but stonewalling and utter customer contempt. 
XXXX XXXX XXXX XXXX TO XXXX XXXX FROM US-SEC TODAY Dear Mr. XXXX : Thank you for contacting the U.S. Securities and Exchange Commission ( SEC ). 

We appreciate the opportunity to review your concerns regarding XXXX. The SECs Office of Investor Education and Advocacy ( OIEA ) processes many comments received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by OIEA is referred directly to other SEC offices and divisions for their review. If they have any questions or wish to respond directly to your comments, they will contact you. 

Please note that Coinbase is not registered with the SEC. If you have not done so already, we suggest that you report your concerns about Coinbase to the Federal Trade Commission ( FTC ) and the Consumer Financial Protection Bureau ( CFPB ) for further assistance. Contact information for both agencies is shown below : FTC Consumer Response Center XXXX XXXX XXXX, XXXX Washington, DC XXXX Toll-Free Complaint Line : XXXX https : //reportfraud.ftc.gov/ # CFPB XXXX. XXXX XXXX XXXX  XXXX, Iowa XXXX XXXX XXXX ) XXXXCFPB ( XXXX ) https : //www.consumerfinance.gov/complaint Once again, thank you for communicating your concerns. 

Sincerely, XXXX XXXX Attorney Office of Investor Education and Advocacy U.S. Securities and Exchange Commission www.sec.gov www.investor.gov www.twitter.com/SEC_Investor_Ed

Company response to consumer: Closed with explanation