Users could loose their crypto holding if company gets bankrupt, warns Coinbase
Coinbase said its users' crypto assets could become company property if it went bankrupt.
It also noted that Coinbase held $256 billion in fiat currencies and virtual coins.
The company said it has
no risk of bankruptcy, but they have to include this risk factor.
Meanwhile, Coinbase’s first-quarter revenue fell far short of Wall Street’s expectations.
The firm posted a loss of $430 million during the period and noted a decline in trading volume.
As pernew guidelines to crypto platforms Coinbase started including customers’ crypto holdings as on the company’s balance sheet.