Coinbase Bankruptcy

Now that bitcoin has rugged millions of people.
How likely is US govt regulation?

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Ayakohita was satoshi nakamura

When coinbase is rekt so will be USDC

Burgers should withdraw before is too late

Coinbase is probably fine. They had tons and tons of cash from their IPO so unless they did something mega stupid they should be fine for a long time

How do they go bankrupt are they not just a middleman?

sweet summer child

They are probably just on the books more legit than previous exchanges but behind the scenes its the same scam as mtgox. Not your keys not your coins.

Are they doing fractional banking? Selling coins that dont exist and hoping no one would transfer them?

It doesnt really lend itself to regulation. There are no accounts necessary. Trades all over the world and cant be seized by law enforcement in a general sense.

Far more likely to simply fade into irrelevance

Their war chest can only last for so long until they start blocking withdrawals and disillusioned ancaps start going suicidal

>Coinbase Bankruptcy
Might want to check their quarterly profits before speaking out like a retard.
Spoiler alert: their losses from this quarter are dwarfed by profits from all preceding quarters.

They voted or supported the party that made them broke.

No use crying about it.

I think coinbase is probably fine but jesus christ the press is really trying to lower confidence in coinbase. I don't like CB and I don't like the press either so I feel like something's fishy going on with the press. Like they're trying to scare people away from crypto

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You would think with all these people selling their crypto, and they get a cut each time, that it should be more profitable for them, unless they were also holding a bunch of crypto themselves. If they are just a means of exchange, and take a cut, they should be happy so many people are trading right now.

>but jesus christ the press is really trying to lower confidence in coinbase
It's because retards believe whatever the press says and have no idea how to check the actual financial statements of a company. Goybase is fine. I don't even have any more with them anymore other than maybe 10 bucks in free crypto awards.

>coinbase
Thats just an exchange... wait are you telling me that there are people holding who are dumb enough to keep it in an exchange wallet instead of a private wallet?

Their crypto holdings are a fraction of their cash holdings. (1,333,333,000 compared to 6,116,388,000 cash/cash equivalents).
So yeah they'll be fine.
(red rectangles were from a former discussion)

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>unless they did something mega stupid

few companies engage in as much fraudulent & shady activities as coinbase

What am I looking at a picture of, here? If I had to guess I'd say a tribal nepotistic government job, maybe a school or something.

Regulation... You people are so fucking retarded.

>fraudulent & shady activities
Huh?

I know plebbit is plebbit and all that but check out r/coinbase
legions and legions of people getting fucked by coinbase and getting the runaround. I know because I'm one of them. They straight up stole $1000 of crypto from me; I transferred it to coinbase, it never showed up in my account, support gave me the runaround for MONTHS. I checked the recipient wallet recently and discovered my funds were moved to an official coinbase wallet. In other words, they had my crypto the whole time and literally just stole it. There are countless people like me. I was fortunate it was "only" $1000 and not $10000 or $100000 because they rip those people off too.

I e already moved all of my assets out into cold storage.