Prestigious crypto exchange Coinbase said May 10 will be the last day for customers to take out new loans through Coinbase Borrow, which is nearing closure.
Full details below.
Why is the exchange shutting down Coinbase Borrow?
As anticipated above, based on what we are learning, Coinbase-Borrow will not have much longer to live.
In fact, customers of the US-based exchange who used the program received an email on Wednesday informing them that the last day to take out new loans would be May 10.
As a reminder, Coinbase Borrow allowed customers to take out fiat loans of up to $1 million for up to 30% of their Bitcoin holdings, with interest.
As we know, Coinbase recently came under further regulatory scrutiny following the collapse of the FTX cryptocurrency exchange, and is facing an enforcement action from the U.S. Securities and Exchange Commission (SEC) for alleged securities violations.
However, the closure of Coinbase Borrow appears to be unrelated to any enforcement action
We współpracy z: https://en.cryptonomist.ch/2023/05/04/coinbase-borrow-headed-shutdown/
