After a dismal financial report with a $430 million loss, Coinbase offered up some even more concerning news. In the event of bankruptcy, users holding $256 billion in FIAT and crypto could disappear into thin air. The press release clarified by saying, “the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.”
While this might not be an immediate cause for concern, it’s certainly not a great look for the most popular crypto exchange. To add salt to the wound, the company also faced a major outage earlier on Thursday afternoon.
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