Considering the failures of some of the most prominent players in the crypto space, one of the biggest questions on investors’ minds was whether or not Coinbase would be next in the line of dominoes to fall. Thankfully, there doesn’t seem to be anything to worry about.
Faith Lost
Many crypto banks and hedge funds advertise themselves to be just as stable as the legacy financial players. This is one of the ever-growing lists of reasons why so many investors have lost faith in crypto companies and succumbed to recent and massive losses. Many, including myself, have been worried about the future of the biggest player in the United States crypto market: Coinbase.
Coinbase Reassurance
In the aftermath of the Luna implosion and the crypto crash earlier this year, crypto firm Coinbase released a statement ensuring the public that they have not and will never engage in the types of risky lending practices that 3AC, Voyager, BlockFi, SBF, and Celsius had involved themselves in. Coinbase also noted that they have zero exposure to any of those groups, which will undoubtedly ease investors’ minds in these turbulent times.
With the amount of fear that continues to permeate the crypto space, it’s nice to discover some positive news that the people of consequence over at Coinbase were responsible enough to set themselves up more financially accountable.
