"Coinbase is warning that bankruptcy could wipe out user funds"

"Yet the exchange noted that in the event it ever declared bankruptcy, “the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.” Coinbase users would become “general unsecured creditors,” meaning they have no right to claim any specific property from the exchange in proceedings. Their funds would become inaccessible. That shouldn’t happen."



Tommaso Tosi

commented 6 months ago

concerning but as the article mention it's unlikely. I'm pretty bullish on coinbase btw