The largest US crypto exchange announced that it will be deprecating its lending product, Coinbase Borrow, on the 10th of May.
According to a spokesperson for the company, the product no longer garnered enough interest to justify allocating funds for it. Loans taken out using the program will remain active until their conclusion.
Decision Not Linked to Regulatory Troubles
The decision to cease Coinbase’s Borrow program is not linked to any regulatory action, pending or enforced, according to the company. However, it may be linked to a review of Coinbase’s financial model, whose stock value has contracted by nearly 30% over the past 3 weeks.
The crypto platform will report its quarterly earnings on the 4th of May, in the middle of a back-and-forth with regulators like the SEC, who seem to have an ever-worsening outlook on the crypto industry as a whole.
No Action Needed From Customers
Current users of the Coinbase Borrow product are not at risk and do not need to take any action to
We współpracy z: https://cryptopotato.com/coinbase-borrow-to-cease-operations-next-week-report/
