Signal In Hot Water Over MobileCoin Partnership

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The messenger application rose to glory when WhatsApp was acquired by Facebook because of Facebook’s record of past data breaches. Signal offers better privacy and end to end encryption which appealed to the masses – even Facebook CEO Mark Zuckerberg joined Signal rather than his using his newly-acquired messenger application.

Signal announced a partnership with MobileCoin in order to integrate the cryptocurrency to a beta version of the messenger app that is being released in the UK only. Signal has always been vocal about privacy and integrating the privacy coin, MobileCoin, is the next step in the ladder towards providing complete privacy.

However, after the initial excitement died down, people started questioning the motives of Signal and the real reason behind the partnership as MobileCoin’s price rallied upwards. The price of MobileCoin (MOB) shot up by 450% before the announcement. Now, the founders of MobileCoin and Signal has found themselves scrutinized. Joshua Goldbard, founder of MobileCoin, and Moxie Marlinspike, CEO of Signal, are being questioned regarding the opacity surrounding the issuance of the coin.

Marlinspike has had extensive involvement with MobileCoin with the cryptocurrency’s whitepaper listing Marlinspike as CTO. Goldbard has cited the Signal CEO to be only an advisory figure to MobileCoin – the description has been inconsistent at times. Both the founders have opt for secrecy when it comes to their relationship and Marlinspike’s involvement in MobileCoin – leading to increased suspicions.

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