Controversy surrounds Signal’s recently announced MobileCoin integration, with users expressing concerns over ties between Signal’s founder and the cryptocurrency, opacity surrounding the coin’s issuance, and suspicious gains leading up to the partnership’s announcement.
Signal is an encrypted messaging application that has been embraced by the privacy and security-conscious community since launching as Open Whisper Systems in 2013 and rebranding two years later.
MobileCoin was founded in 2017, issuing roughly 15% of its supply to private investors after its entire supply was minted at launch.
The messaging app announced it had launched payment functionality through MobileCoin on April 4, with Signal founder Moxie Marlinspike stating it chose MobileCoin due to it requiring little storage space and providing fast transactions without sacrificing privacy on mobile devices.
Signal’s decision to integrate MobileCoin appears to have been made some time ago, with Internet Archive’s Jonah Edwards noting the source code for the cryptocurrency integration was kept private for nearly 12 months before being published to