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Wonder if/when this will happen to Coinbase.
by warning26 4y ago
Wonder if/when this will happen to Coinbase.
- Aaronstotle 4y agoWhy would this happen to Coinbase?
- warning26 4y agoWhy not? Coinbase isn't necessarily immune to a similar liquidity crisis as other crypto exchanges.
- VHRanger 4y agoIts not a liquidity issue so much as a banking relationship issue
- Aaronstotle 4y agoCoinbase is a public company and heavily regulated, I don't see them suspending USD bank transfers out of the blue. Binance has always been a shady exchange, so this isn't a very surprising move.
- deleted 4y ago[deleted]
- qbasic_forever 4y agoHow soon we forget companies like Robinhood that trade on the real dollar stock market did precisely that--disabled bank transfers, put in strict limits, etc.--during the GameStop/wallstreetbets fiasco a few years ago and they got away without any warnings, harm or investigation.
- tedunangst 4y agoHow quickly we just make up stuff that never happened.
- qbasic_forever 4y agohttps://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html https://www.cnbc.com/2021/01/28/robinhood-interactive-broker...
- tedunangst 4y agoQuote the part about them disabling bank transfers.
- birracerveza 4y agoHow quickly we reply with "How quickly we just make up stuff that never happened." despite the thing having actually happened.
- chollida1 4y agoI don't think its true that > > How soon we forget companies like Robinhood that trade on the real dollar stock market did precisely that--disabled bank transfers Did Robinhood actually disable bank transfers? I don't recall that happening
- chollida1 4y ago> How soon we forget companies like Robinhood that trade on the real dollar stock market did precisely that--disabled bank transfers, Can you cite a source for this claim. I'm not certain you are correct here.
- __derek__ 4y agoThe 2008 financial crisis centered on public companies that were nominally heavily regulated. As long as Coinbase's liquidity depends on a synthetic safe asset rather than actual insured deposits, it's perfectly capable of having its own Lehman or Bear or Merrill moment.
- wmf 4y agoBinance has a legality crisis and Coinbase doesn't.
- time_to_smile 4y agoBecause the entire crypto ecosystem exists to defraud its users and eventually that fraud catches up to you? I'm still shocked that I hear non-tech people claiming they should put their extra cash into crypto. I guess there's still suckers out there to extract money from. I know this comment will likely be downvoted/flagged by someone who still has some money to make from this con, but there hasn't been a coherent justification of the current crypto ecosystem is years. All of the early hopes have been repeatedly demonstrated not to pan out in reality and all that's left is grift.
- warning26 4y agoHN protip: never say "I know this comment will likely be downvoted/flagged" because it's a self-fulfilling prophesy.
- etchalon 4y agoI'd bet not. Whatever their problems, Coinbase seems to be run "well" and in compliance with US regulations.
- Haga 4y ago[dead]
- deleted 4y ago[deleted]