CEO says Bitcoin is a better form of money than Gold, Reduces Account Lockouts by 82% to Rebuild User Trust

Coinbase recently announced an 82% reduction in unnecessary account lockouts—a move aimed at regaining the trust of traders frustrated by years of sudden freezes and customer support issues.

Coinbase CEO Brian Armstrong says “Bitcoin is a better form of money than gold.” pic.twitter.com/AL4btcIHn1

— Watcher.Guru (@WatcherGuru) June 8, 2025

The update comes after persistent complaints from users who found themselves locked out of their accounts for weeks or even months, often without a clear explanation or timely support. CEO Brian Armstrong publicly acknowledged the problem in a June 6 post on X , calling account freezes a “major issue” that had gone on “for longer than is acceptable.” Armstrong emphasized that fixing the issue is now a company priority and urged affected users to reach out to Coinbase Support for help.

Much of the progress is credited to Dor Levi, a recent addition to Coinbase’s product team. Levi explained that the company has invested heavily in upgrading its machine learning systems and internal infrastructure. These improvements have made automated account flagging more accurate, reducing false positives and unnecessary restrictions.

Despite the progress, Levi admitted that Coinbase’s handling of account access still falls short of expectations and promised further refinements.

While Coinbase has made strides in reducing lockouts, some freezes will remain necessary for legal, sanctions, or fraud prevention reasons. However, users continue to voice frustration over customer service delays and a lack of direct human support. Some claim they remain locked out, with one user reporting a two-year freeze.

Meanwhile, Coinbase is establishing a “Center of Excellence” in Charlotte, occupying 58,600 square feet in the 110 East office tower. This expansion is part of a national hiring initiative that will create 1,000 US jobs, with over 130 roles in Charlotte, reinforcing the city’s fintech growth.

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