2 ms·
Coinbase Has No Risk of Bankruptcy, New 10-Q Text Is SEC Requirement, CEO Says
- koolba 4y agoHad to tweak the title to fit the HN limits, original title is: Coinbase Has No Risk of Bankruptcy, New 10-Q Disclosure Langauge Is SEC Requirement, CEO Armstrong Says > The 10-Q, filed with the SEC Tuesday, says: “Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors,” Coinbase wrote in its recent filing. That's one hell of an argument for "Not your wallet, not your coins!". And here's the full tweet response from CEO Armstrong: 1524233480040710144