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Coinbase Works to Calm User’s Bankruptcy Fears as Its Stock Price Plummets
- jstx1 4y ago-26% today -83% in the last 6 months Just wow.
- thomassmith65 4y agoI would be uncomfortable right now to be a Coinbase customer. Two years ago Armstrong purged his hippie employees. Remaining employees probably have Gordon Gecko posters in their cubicles, and I doubt any pangs of conscience will stop them cashing out if the ship goes down.
- karmakaze 4y agoI've always been skeptical of crypto but did look into Coinbase as it seemed reputable in some way. I watched a compelling video of the CEO describing how Coinbase was going to effectively make the world better by providing stable banking services for the world. It might have sounded cheesy but I kept an open mind and watched on. I could buy into that vision except for one thing--it always included "with crypto" which to me has always been an answer looking for a problem once it became a 'store' than working currency. I watched to the end of the video to see if anything in the distant future might potentially be not-crypto and it was never mentioned, so I tuned out.
- karmakaze 4y agoIt might have helped if Coinbase didn't feign 'were too big to fail' with the following in another report[0]. > In the event the crypto exchange goes bankrupt, Coinbase says, its users might lose all the cryptocurrency stored in their accounts too. This is Coinbase describing self-incompetence. They could and should have protected against this long ago during normal operation. Such a declaration is sealing their fate rather than initiating a rescue. [0] https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/ https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-as...