Coinbase Ads Return to Google, Instagram in Significant Policy Reversal

Avi Rosten

In yet another positive development for bitcoin and the entire crypto space, Google has reversed its stance on the ban of crypto ads.

Coinbase, one of the world’s leading exchanges is now appearing once again on Google ads – as redditor "thekcoinz" noticed early this morning:

coinbase ads.jpg

 

In a significant blow to the industry, Google announced their ban on paid cryptocurrency advertising in March of this year, following a similar announcement from Facebook at the end of January.

With both companies citing the rampant ICO and crypto scams that have plagued the industry as motivation for the ban - other tech giants Twitter and Snapchat soon followed suit.

The new Coinbase Google ads, however, also follow a recent relaxation of the ban for the exchange from Facebook earlier in the week – and now it seems Coinbase ads are also appearing on Instagram (which is owned by Facebook):

 

coinbase insta.jpg

 

A More Nuanced Approach

Many within the industry at the time were frustrated by the blanket ban from the tech giants, feeling that such measures failed to account for the huge number of legitimate projects within the space.

With the pace of fraudulent and suspicious ICOs seemingly not showing any signs of letting up however, many will understandably view this reversal from two of the world’s largest companies as indicative of a more nuanced approach to the crypto space – with Coinbase very much leading the way in terms of increasing the industry’s legitimacy in the eyes of the non-crypto world.

Cannabis Shops Turn to Crypto Apps Amidst Coronavirus Cash Shortages

Michael LaVere
  • Cannabis shops in Boulder, Colorado are using bitcoin payment app Strike to conduct "contactless" exchanges.
  • Cash shortages and lack of sanitation are causing businesses to find alternative means for transaction. 

Cannabis shops are using bitcoin payment services to conduct business in place of fiat amidst the coronavirus pandemic. 

According to a report by CoinDesk, cannabis dispensaries in Boulder, Colorado have been onboarded to the closed beta for Strike, a bitcoin payment service application founded by lighting network supporter Zap. 

Zap, founded by Jack Mallers, has been operating a closed beta for the payment application Strike which allows users the option of sending bitcoin or dollars and receiving funds in their bank account. The application uses a simple QR code interface, similar to Venmo, that allows users to send funds without having prior knowledge or expertise with bitcoin. 

Mallers said, 

Every Strike user is given a public domain at strike.me. We’re using Lightning for really fast online settlement of value transfers. … It’s also beneficial for privacy on the sender’s side.

Johnny Kurish, general manager at Boulder’s Helping Hands Herbals cannabis shop, said the application allowed his dispensary to process $1,000 worth of purchases since being added to the beta last week. 

Kurish said the dispensary will switch to only accepting Strike payments, which allow for contactless exchanges in light of the coronavirus pandemic. 

He said, 

We’re really lucky to have curbside drop-offs. We check the ID through the roll-up window, deliver the cannabis to a podium in front of the car. We’re happy to reopen with an option that’s safe for our staff.

Featured Image Credit: Photo via Pixabay.com