[wmf]

The point is that if Coinbase goes bankrupt their customers will not lose any money because customer assets are segregated from Coinbase's assets.

[iseeyou]

  Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors

https://finance.yahoo.com/news/coinbase-warns-customers-coul...

[RC_ITR]

>may

There’s no precedent. Disclosures are always worst case scenarios

And again, will anyone please read their fucking balance sheet?

Liabilities of $105bn, $101bn which are deposit liabilities vs. $101bn of customer assets.

Even in a worst case scenario depositors get a <4% haircut.

THIS IS VERY DIFFERENT FROM WHAT FTX DID