Coinbase Bankruptcy

How likely is a bankruptcy? I have 4.2 BTC and they wont let me cash out for another 2 business day.

  1. 1 week ago
    Anonymous

    Very likely that they will suspend withdrawals tomorrow

    • 1 week ago
      Anonymous

      probably. but can anyone explain how this practice is legal?

      • 1 week ago
        Anonymous

        your signed a contract where they told you you're fucked if they get in financial trouble

      • 1 week ago
        Anonymous

        these are the terms you read and agreed to when you joined the platform
        thanks for playing, no refunds.

      • 1 week ago
        Anonymous

        One of the reasons is because once they file bankruptcy everything they have on hand can't be touched until bankruptcy proceedings have been concluded and secured creditors received as much cash as they can to break even.

      • 1 week ago
        Anonymous

        >not your keys
        >not your crypto

    • 1 week ago
      Anonymous

      fake and GAY

  2. 1 week ago
    Anonymous

    0.0001% within the year

  3. 1 week ago
    Anonymous

    coinbase is totally safe don't worry

  4. 1 week ago
    Anonymous

    They owe me $30 in card rewards. Their support refuses to help. Would you trust a company that can't pay out $30 with thousands? I know I don't. I removed all my crypto

    • 1 week ago
      Anonymous

      That's funny. They sent me $30 by mistake. I called customer service and they helped me right away. I was on hold for 2 minutes. There was a nice young lady on the phone who told me the account that the $30 belonged to just got deleted by the owner, so I should just keep the $30.

      • 1 week ago
        Anonymous

        Based, it's like that time I called bitcoin customer support to help me find unclaimed BTC on the blockchain. I got 2 whole coins, I fucking miss 2016.

      • 1 week ago
        Anonymous

        Fake and gay there is no option to delete your Coinbase account.

        • 1 week ago
          Anonymous

          I deleted my coinbase account a couple months ago. Would recommend fuck those garden gnomes.

        • 1 week ago
          Anonymous

          You can ask them to delete it but your balance has to already be 0

      • 1 week ago
        Anonymous

        Class act. They'll be fine.

  5. 1 week ago
    Anonymous

    Have any of you dumbfucks who keep spamming this pic ever actually looked at Coinbase's quarterly earnings? Net profits:
    June 2021 +1.61B
    Sept 2021 +406.1M
    Dec 2021 +840.21M
    March 2022 -429.66M
    So far this quarter sucked for them but it doesn't change the fact that they're balls deep in profit.
    That said I keep nothing on Goybase. Oddly enough I trust the chink on Binance more.

    • 1 week ago
      Anonymous

      doesn't even matter, they could be making $0. they have over 6B in cash.

    • 1 week ago
      Anonymous

      > Net profits:
      >June 2021 +1.61B
      >Sept 2021 +406.1M
      >Dec 2021 +840.21M
      that went to isreal
      >March 2022 -429.66M
      your personal coinbase account will pay for this

  6. 1 week ago
    Anonymous

    These places surely have plans in place for a bear market

  7. 1 week ago
    Anonymous

    I have a few hundred $ worth that i just tried to move into a hardware wallet and the app won’t let me

  8. 1 week ago
    Anonymous

    Realistically its getting more and more likely.

  9. 1 week ago
    Anonymous

    Very low, but even so the bankruptcy thing is FUD. Its some legal disclosure they have to make.

    It would be like if a storage unit warehouse went bankrupt, and they sold people's stuff in the units to pay their debts. They can't because its not their property. The stuff in the units is the property of the customers, not a loan to the storage unit facility.

    Same with coinbase its just that there is no specific law about crypto. So some retarded corporate lawyer who was tasked with coming up with 999 things that could go wrong for the disclosure thought that up. In reality it has almost 0% chance of happening because user deposits are the property of the user, not a loan.

    But the crypto fud patrol picked it up and turned it into a meme. The biggest risk is just coinbase getting hacked, or them acting like a typical gov cucked bank and randomly freezing your shit or censoring your payments because the government asked. So either way, not your keys, not your crypto, don't hold your coins on coinbase. But don't fall for FUD and do stupid shit out of panic.

    • 1 week ago
      Anonymous

      Ok this is an amazing cope. So in your imagination they made the disclosure that in a bankruptcy account holders would become unsecured creditors as a joke? This is exactly what used to happen when a bank went bankrupt and was liquidated, the former depositors could only secure pennies on the dollar if they were lucky. That's why the FDIC was created. Coinbase has no such insurance, so if they go bankrupt you will lose nearly everything. Repeat after me, not your keys not your crypto.

      • 1 week ago
        Anonymous

        >This is exactly what used to happen when a bank went bankrupt and was liquidated, the former depositors could only secure pennies on the dollar if they were lucky.

        Only because the bank lends out deposits and may not have the liquidity to redeem depositors. Coinbase is not a bank, its a custodial relationship. They just store your crypto. All deposits on coinbase are a liability and they can go bankrupt and still have all the user's deposits. Of course they could also get hacked and if they go bankrupt that way then of course you won't get your crypto back. But that's a different story.

        This isn't cope because I don't store my crypto on exchanges, and you should either. But not because of this stupid viral FUD. Because I don't want my crypto randomly frozen or my payments censored. But this stupid FUD was created to scare people into doing something out of panic instead of just moving your coins to your own wallet after you buy them like every rational investor should do..

        • 1 week ago
          Anonymous

          So how do they make their money then, wholly through transaction fees?

        • 1 week ago
          Anonymous

          >They just store your crypto
          do they? or do they just take your crypto and give you a token hoping that there will never be too many withdrawals at a time?

      • 1 week ago
        Anonymous

        >Coinbase has no such insurance
        No crypto exchange does because FDIC does not apply to digital assets. I also encourage you to read this post:

        Have any of you dumbfucks who keep spamming this pic ever actually looked at Coinbase's quarterly earnings? Net profits:
        June 2021 +1.61B
        Sept 2021 +406.1M
        Dec 2021 +840.21M
        March 2022 -429.66M
        So far this quarter sucked for them but it doesn't change the fact that they're balls deep in profit.
        That said I keep nothing on Goybase. Oddly enough I trust the chink on Binance more.

        And stop acting like a doomer tard
        Cold wallets are great until you lose access, which is more of a statistical likelihood than losing it on an exchange.

        • 1 week ago
          Anonymous

          >oh look at how much money these guys made
          >btc drops to $20k
          >have to layoff 18% of workforce
          if they had the money, they wouldn't be laying off people.
          wait for btc to break below $20k support, the bankruptcy proceedings will be announced.

          • 1 week ago
            ߷

            layoffs are bullish

            • 1 week ago
              Anonymous

              Aren't you the same retard that posted their numbers last year but hid their ER numbers from March?
              Pull up the thread, it was just on here a few hours ago.
              Do they pay you for marketing, or are you just wannabe fanboy?

            • 1 week ago
              Anonymous

              no, no it's really not.
              not sure if trolling me, but the layoffs announcement came on hitting $21k btc.
              btc goes lower, they'll need to take further action to reduce financial stress.

              • 1 week ago
                Anonymous

                are you insider about exchanges?
                how do you know about them

                btw, I need to apply to kraken. i am against all this pronouns shit

              • 1 week ago
                Anonymous

                I'm not an insider.
                just my observations based on what's come out.

          • 1 week ago
            Anonymous

            >if they had the money
            Why would you waste money keeping people employed when they have no work to do kiddo? Layoffs are to cut costs. It doesn't mean every company who does a few layoffs is going bankrupt. Their financials are strong, you just never bothered to look at them because you would rather go with LULZtier conspiracy nonsense instead for some reason.

            • 1 week ago
              Anonymous

              Do you understands layoffs (personnel restructuring) come before bankruptcy (financial restructuring)?
              They're not laying off because they have no work to do. They explicitly stated 'Economic conditions are changing rapidly' and it aligns with btc hitting the $20k support.
              Every companies finances look 'strong' until bankruptcy. Then the truth comes out.

              I literally have nothing on goybase except maybe 10 bucks worth of free rewards from their gay quizzes.
              You on the other hand seem convinced everything in the world works out like the idiotic conspiracies that get peddled to you on nitwit forums like LULZ, despite the fact that they've been consistently wrong about everything so far.

              so then stop being a goy and telling people they are less safe withdrawing coins from exchanges, rather then leaving them on their prior to a bankruptcy.

              • 1 week ago
                Anonymous

                Where is your evidence for bankruptcy retard? Their quarterly profits have been posted and they are strong. Layoffs in this case are to cut costs.
                Either fucking learn how to read a balance sheet/income statement or fuck off leave with the other zoomer retards.

              • 1 week ago
                Anonymous

                they haven't declared a bankruptcy yet, they're headed to one. Is that really that hard to understand?
                they lost $400MM back in Quarter 1 and that's with btc at $37k, which was about the same price in feb on their previous earnings report.
                btc drop to ~$20k, 18% of workforce laid off.
                so what kind of earnings report do you think you can reasonably expect in August?

              • 1 week ago
                Anonymous

                [log in to view media]

                >Their quarterly profits have been posted and they are strong.

                they made a loss

              • 1 week ago
                Anonymous

                You posted 1 fucking quarter that shows a loss. Read this kiddo:

                Have any of you dumbfucks who keep spamming this pic ever actually looked at Coinbase's quarterly earnings? Net profits:
                June 2021 +1.61B
                Sept 2021 +406.1M
                Dec 2021 +840.21M
                March 2022 -429.66M
                So far this quarter sucked for them but it doesn't change the fact that they're balls deep in profit.
                That said I keep nothing on Goybase. Oddly enough I trust the chink on Binance more.

                they haven't declared a bankruptcy yet, they're headed to one. Is that really that hard to understand?
                they lost $400MM back in Quarter 1 and that's with btc at $37k, which was about the same price in feb on their previous earnings report.
                btc drop to ~$20k, 18% of workforce laid off.
                so what kind of earnings report do you think you can reasonably expect in August?

                >they haven't declared a bankruptcy yet, they're headed to one
                Funny how I asked you for evidence of bankruptcy and you just completely ignore it and continue on with your retard babble. What's hard to understand? Adults with functioning brains are not interested in retarded conspiracies, we're interested in data. Provide the data showing they are heading towards bankruptcy.
                You only reference their most recent loss while ignoring the fact that it was completely dwarfed by profits in all preceding quarters you fuckin clown.

              • 1 week ago
                Anonymous

                >You posted 1 fucking quarter that shows a loss.

                and you said
                quarterly profits have been posted and they are strong.

              • 1 week ago
                Anonymous

                They are strong you fucking moron. 1 quarter loss does not negate the billions they've made previously.
                I don't know why I'm wasting time arguing with kids who have never taken a finance/economics class in their life.

              • 1 week ago
                Anonymous

                they've been spending it all on super bowl ads and stadiums and stupid crap

              • 1 week ago
                Anonymous

                Hold on...Are you thinking their quarterly profits are their retained earnings? kek

              • 1 week ago
                Anonymous

                no, because I posted a screenshot of the most recent quarterly income statement. Their retained earnings are $3.9m but I'm not sure why you'd look at retained earnings when trying to determine whether there is a risk of bankruptcy

                They are strong you fucking moron. 1 quarter loss does not negate the billions they've made previously.
                I don't know why I'm wasting time arguing with kids who have never taken a finance/economics class in their life.

                >1 quarter loss does not negate the billions they've made previously.
                I'm more concerned about their negative cash flow of $1.5m and in turn any covenants attached to their $3.8m long term borrowings. Cash in hand is only $6.1m. They have crypto holdings of $1.3m but I don't think those are held at FV.

              • 1 week ago
                Anonymous

                Dude where the fuck are you getting these fake figures from?
                >Summary. Coinbase has a strong balance sheet with $6.4bn in cash and $3.5bn in retained earnings as well as attractive gross and profit margins of 86% and 40% respectively
                I'm also concerned with why you think 1.5 million and 3.8 million are big numbers for a company this size? That's pocket change.

                what data do you actually want? You have the previous quarters earnings (which were terrible), you know they make money off people trading bitcoin, you know they make less money on commission while prices deteriorate, you know the price of bitcoin has dropped ~50% in value since their last earnings report, they've told you you're an unsecured creditor during a bankruptcy, and they've laid off 18% of their workforce.
                so what in the hell data are you missing?

                How about data that shows they have no retained earnings and their asset values are rapidly dwindling? Oh you can't because literally the opposite is happening.
                You guys are assuming nonsense with no evidence to support it.

                Probably missing actual documents saying they are bankrupt. Because everyone knows companies are legally bound to let customers know ahead of time. Oh wait...

                >Because everyone knows companies are legally bound to let customers know ahead of time. Oh wait..
                Wow brainlet, congrats on cracking the case. I guess we can safely assume literally every fucking company in the world is going bankrupt without evidence simply because they would never tell us, right? Brainlet
                Either put up or shut up. I'm sick of listening to doomer tards who think they're professionals on every fucking matter they waste their breath on.

              • 1 week ago
                Anonymous

                >I'm also concerned with why you think 1.5 million and 3.8 million are big numbers for a company this size? That's pocket change.
                They had negative cash flow in Q1 of $1.5m and their current cash at the end of Q1 is now only $6.1m. If the trend isn't reversed they will be out of cash in a year, and will not have the ability to repay the loan by Q3 2021 which is in just 3 months' time.
                The issue here is that given the downward trend across the board, the bank may have the right to request immediate repayment of the loan. If they can't repay when requested because they don't have enough cash and can't liquidate assets quick enough, they will go bankrupt.

                >Dude where the fuck are you getting these fake figures from?
                https://s27.q4cdn.com/397450999/files/doc_financials/2022/q1/Coinbase-Q122-Shareholder-Letter.pdf

              • 1 week ago
                Anonymous

                [log in to view media]

                You keep repeating "million". Do you mean "billion" instead? Otherwise why would you think a day's worth of trading fees (or rather less) is going to bankrupt them?
                What page shows negative cash flow?

                did you even bother to look at their assets/liabilities?
                $6BB in cash, receivables down $50MM, assets down around $500MM ($21BB total, but they bumped their brand value to $200MM and increased their goodwill to $1BB, e.g. fake bullshit assets), total liabilities $14BB.
                and again, that's last quarter without the downward btc movement.

                500 mil sounds like a big loss for brainlets that are afraid of comparing it to the total pool. Their cash outflow is substantial but nothing apocalyptic.
                Considering how devastating last year and this year have been, they're doing fine. The true test will come by the end of the year. They are still highly profitable and will likely continue that way. Layoffs are a good way to cut costs to improve their financial statements and not an immediate sign of bankruptcy.

              • 1 week ago
                Anonymous

                >I'm also concerned with why you think 1.5 million and 3.8 million are big numbers for a company this size? That's pocket change.
                They had negative cash flow in Q1 of $1.5m and their current cash at the end of Q1 is now only $6.1m. If the trend isn't reversed they will be out of cash in a year, and will not have the ability to repay the loan by Q3 2021 which is in just 3 months' time.
                The issue here is that given the downward trend across the board, the bank may have the right to request immediate repayment of the loan. If they can't repay when requested because they don't have enough cash and can't liquidate assets quick enough, they will go bankrupt.

                >Dude where the fuck are you getting these fake figures from?
                https://s27.q4cdn.com/397450999/files/doc_financials/2022/q1/Coinbase-Q122-Shareholder-Letter.pdf

                I found the page with the cash flow after I responded to the second guy with the screenshot so ignore that part.

              • 1 week ago
                Anonymous

                look it's pretty simple. I've been polite and held your hand this whole thread.
                if you want to continue the conversation, answer the question I asked you previously.
                what do you expect on their next earnings report? another $400MM loss?

              • 1 week ago
                Anonymous

                You literally have no fucking argument. Just condescending deflection because you have no fucking clue how to read and interpret data.
                6,116,388,000 - 400,000,000 = 5,716,388,000
                OH NO THE FOUR HORSEMEN ARE COMING

              • 1 week ago
                Anonymous

                strange you're insinuating you 'read and interpreted data', but yet, you are uncomfortable making a ballpark guess on their next earnings call.
                huh, wonder why.

              • 1 week ago
                Anonymous

                Okay sure I would guess they lose anywhere from 200mil and more next quarter. Now wha? What does my guess have to do with anything?

              • 1 week ago
                Anonymous

                you know that's a disingenuous prediction, $200MM+ when they just lost $400MM.
                the point being, you know, although you don't want to admit it, this next earnings report will be at minimum $800MM, if not $1BB+ loss.
                which discredits the 'they're fine they have cash from the bullrun' argument.
                but since you met me halfway, now answer this question.
                When's the last time goybase had lay offs?

              • 1 week ago
                Anonymous

                You are working entirely off assumptions and predicting the worst case scenario. When next quarter comes and it's not as apocalyptic as you said it was, suddenly people like you are nowhere to be found.

                >Between the 21Q4 and 22Q1 reports, BTC went from 50k->37k. Between 22Q1 and now, BTC went from 37k to 20k.
                Feb23rd, 21Q4 filing, btc was ~$37k
                May 9th, 22Q1 filing, btc was ~$30k
                btc currently trading around ~$21k
                combined with market contagion, I'd expect their $(400MM) earnings to worsen to $(800MM) earnings.

                Why are you conflating cash holdings with crypto holdings?
                Their cash assets are 6,116,388,000
                Their crypto holdings assets are 1,333,333,000, which is actually up from the prior quarter.

              • 1 week ago
                Anonymous

                >You are working entirely off assumptions and predicting the worst case scenario. When next quarter comes and it's not as apocalyptic as you said it was, suddenly people like you are nowhere to be found.
                What assumption am I making? They make less money off commission when less people trade?
                That they're slowly cooking the books, increasing intangibles and other bullshit on their assets/liabilities?
                That they're laying off 18% of their workforce due to financial hardship? An action they've NEVER taken before, that also coincides with 52 week lows for btc?
                >Why are you conflating cash holdings with crypto holdings?
                I'm not conflating anything, you understand how coinbase makes money, or any broker for that matter?

              • 1 week ago
                Anonymous

                >"i'm not assuming anything"
                >"they're cooking the books and going bankrupt because they're cutting back their workforce"
                BTC hit a low yet their cash vastly outweighs their crypto holdings, and their crypto holdings somehow managed to increase yet you keep repeating the BTC crash is going to ruin them. You're literally making no fucking sense.

              • 1 week ago
                Anonymous

                [log in to view media]

                all their crypto holdings increasing in value means is that they bought more crypto
                their accounting policy states that crypto holdings are recorded at cost less impairment, so there's never any fair value uplift

              • 1 week ago
                Anonymous

                >Their crypto holdings assets are 1,333,333,000,
                crypto assets aren't recorded at FV under US GAAP, so this isn't an accurate reflection of their market value

              • 1 week ago
                Anonymous

                Between the 21Q4 and 22Q1 reports, BTC went from 50k->37k. Between 22Q1 and now, BTC went from 37k to 20k. Assuming their losses are proportional, we're talking 17000/13000*400m = 523m. I'm sure this is pretty inaccurate but in what way could they lose another 14x what they lost last quarter?

                The layoffs are more likely because:
                >incoming recession
                >less trade volume for several years
                >less profit for several years

              • 1 week ago
                Anonymous

                >Between the 21Q4 and 22Q1 reports, BTC went from 50k->37k. Between 22Q1 and now, BTC went from 37k to 20k.
                Feb23rd, 21Q4 filing, btc was ~$37k
                May 9th, 22Q1 filing, btc was ~$30k
                btc currently trading around ~$21k
                combined with market contagion, I'd expect their $(400MM) earnings to worsen to $(800MM) earnings.

              • 1 week ago
                Anonymous

                >I'd expect their $(400MM) earnings to worsen to $(800MM) earnings.
                Again, this doesn't come close to their $6B cash.

              • 1 week ago
                Anonymous

                $6BB in cash.
                $14BB in liabilities.
                bull run is over.
                yea, they're probably fine.

              • 1 week ago
                Anonymous

                And how have the liabilities changes over the past 5 quarters?

              • 1 week ago
                Anonymous

                >12/31/2020: $4BB
                >3/31/2021: $7BB
                >6/30/2021: $11BB
                >9/30/2021: $13BB
                >12/31/2021: $15BB
                >3/31/2022: $14BB
                liabilities have more then tripled.

                >"i'm not assuming anything"
                >"they're cooking the books and going bankrupt because they're cutting back their workforce"
                BTC hit a low yet their cash vastly outweighs their crypto holdings, and their crypto holdings somehow managed to increase yet you keep repeating the BTC crash is going to ruin them. You're literally making no fucking sense.

                OK, so I think I see where the problem is. You just don't understand how coinbase makes money.
                bullrun, prices go up, everyone's interested in buying, make a ton of money. price goes down, people don't want to buy or sell, they just withdraw their digi money from the exchange.

              • 1 week ago
                Anonymous

                >liabilities have more then tripled.
                Which is good for a business holding custodial assets. If they didn't have liabilities, they wouldn't have custodial accounts.

              • 1 week ago
                Anonymous

                >You just don't understand how coinbase makes money.
                Their prime business model is to make money on fees you brainlet. Enough with your idiotic cope.
                They are charging 4% on every transaction that isn't done through their pro exchange. You clearly have no fucking clue what you're talking about. Why don't you reference buy/sell volume if you wanna go by that point?

                >because you have no fucking clue how to read and interpret data.
                you struggled to find the cash flow statement on a 10-Q

                Who struggled? I literally found it in the same post I asked for it because I responded 2nd to a guy who posted the link to the report you retard. You seem to struggle with basic finance though.

              • 1 week ago
                Anonymous

                >You seem to struggle with basic finance though.
                says the guy who didn't check how crypto assets are presented before he started mouthing off about them
                btw there will be another impairment loss on those holdings in Q2 given the material change in the FV of the holdings, which in turn will further decrease earnings for the period, but that doesn't effect cashflow. But you knew that already, right?

              • 1 week ago
                Anonymous

                >more retard cope from a brainlet you thinks a couple hundred million is going to wipe out 6+ billion in cash
                And that wasn't even including any of their crypto holdings lmao

              • 1 week ago
                Anonymous

                once again, you don't deduct earnings from cash when analysing a business because the income statement is prepared on an accruals basis, not a cash basis. They are vastly unrelated. A company can have significant earnings in any given year, and significant retained earnings overall, and still be completely broke and go bankrupt. Negative earnings are not "absorbed" by positive cash on hand. Creditors don't care about your earnings, they care cash and your ability to repay debts. Earnings are taken to retained earnings which impacts your net asset position.

              • 1 week ago
                Anonymous

                >$14BB in liabilities.
                All the deposits are liabilities, which are opposed pretty much 1:1 with custodial assets. You can just cross those out against each other.

                They have 3.5 Billion debt and 6 Billion cash.

              • 1 week ago
                Anonymous

                >liabilities have more then tripled.
                Which is good for a business holding custodial assets. If they didn't have liabilities, they wouldn't have custodial accounts.

                This is true and it's a valid point. The growth of their custodial assets show good company growth.
                Where I argue though is the transaction revenue is shittier because people buy high and sell low, and since it's a percentage of the trade, they make way less in the down turn. You also don't want HODL'ers withdrawing their coins they overpaid for.

              • 1 week ago
                Anonymous

                why are you deducting earnings from cash here and what are you trying to say by doing so?
                do you know that cash flow isn't the same as earnings reported on the income statement?

              • 1 week ago
                Anonymous

                Because the claim is that they don't have the cash to sustain a loss like that you dolt.

              • 1 week ago
                Anonymous

                they lost $1.5bn in cash, which is absolutely not sustainable

              • 1 week ago
                Anonymous

                >because you have no fucking clue how to read and interpret data.
                you struggled to find the cash flow statement on a 10-Q

              • 1 week ago
                Anonymous

                did you even bother to look at their assets/liabilities?
                $6BB in cash, receivables down $50MM, assets down around $500MM ($21BB total, but they bumped their brand value to $200MM and increased their goodwill to $1BB, e.g. fake bullshit assets), total liabilities $14BB.
                and again, that's last quarter without the downward btc movement.

              • 1 week ago
                Anonymous

                bottom line, we gotta withdraw right? right anon?

              • 1 week ago
                Anonymous

                correct.

              • 1 week ago
                Anonymous

                where to though? I don't have cold storage handy

              • 1 week ago
                Anonymous

                your bank account would be a good start

              • 1 week ago
                Anonymous

                not ideal, but you could setup a wallet on your laptop to tide you over until you can get a ledger.

              • 1 week ago
                Anonymous

                I hear Kraken is the best option for security. They also do real time auditing with a company called Armanino (they also do Nexo and Uber I think).
                I trust Binance enough though if I'm being honest.

              • 1 week ago
                Anonymous

                [log in to view media]

                >How about data that shows they have no retained earnings and their asset values are rapidly dwindling?
                what does retained earnings have to do with bankruptcy?

              • 1 week ago
                Anonymous

                Anon, they've been making these Coinbase bankruptcy threads everyday since UST imploded. There was one this morning and when it hit bump limit they made this one. They're Bobos who want the price to go down more and are trying to scare people out of the market. There's no point in arguing with them.

              • 1 week ago
                Anonymous

                You just flip flopped between posts.
                Stick with an idea for God's sake.

              • 1 week ago
                Anonymous

                what data do you actually want? You have the previous quarters earnings (which were terrible), you know they make money off people trading bitcoin, you know they make less money on commission while prices deteriorate, you know the price of bitcoin has dropped ~50% in value since their last earnings report, they've told you you're an unsecured creditor during a bankruptcy, and they've laid off 18% of their workforce.
                so what in the hell data are you missing?

              • 1 week ago
                Anonymous

                Probably missing actual documents saying they are bankrupt. Because everyone knows companies are legally bound to let customers know ahead of time. Oh wait...

        • 1 week ago
          Anonymous

          [log in to view media]

          >Cold wallets are great until you lose access, which is more of a statistical likelihood than losing it on an exchange.

        • 1 week ago
          Anonymous

          PAPER WALLET ONLY SHITSUCKERS
          no other option feasable

      • 1 week ago
        Anonymous

        Coinbase is not a lender, they are a broker and small market maker. They don't have a long time horizon on investments which they have to earn from to repay redemptions. Even if they do a bit of token loaning on the side for the short/long market that's nothing compared to the exposure of banks.

        Unless they get digitally heisted a large exchange is a license to make money. You make money off the spread and you can play the market with the insider information (you don't have to front run a trade, simply having the aggregate overview of 5-10% of all the trades happening in crypto first gives you a massive advantage).

      • 1 week ago
        Anonymous

        right. aybody remember mtgox...

    • 1 week ago
      Anonymous

      >It would be like if a storage unit warehouse went bankrupt, and they sold people's stuff in the units to pay their debts. They can't because its not their property.
      I've worked in supply chain before, yea, if you don't get your shit out of the wharehouse prior to them declaring bankruptcy, yes, they will sell your shit to pay their debts. At that point you file a claim in their bankruptcy proceedings and if you did everything right and on time, you'll get your money 3-4 years later. but most of the time the money from selling your shit goes straight to the secured creditors.
      Coinbase is likely to declare bankruptcy. and they've tried to give retail a heads up. if you're too dense to listen, that's on you unfortunately.

      • 1 week ago
        Anonymous

        Lol, no, they cannot legally sell your property. They can only sell it if they reposes it from nonpayment or you abandon it. But if they go bankrupt then all that stuff is not their property and has nothing to do with their bankruptcy.

        It is the same with coinbase deposits. You are not a creditor to coinbase because they are not a bank. They are storing your crypto. They aren't using your crypto to generate any income, Now if coinbase has staking or yield generating features, don't know if they do since I don't use coinbase, then if you have money in that then yes that could be considered credit.

        • 1 week ago
          Anonymous

          yes it's not 'legal' to do so, but that's why you have an opportunity to reclaim your property during the bankruptcy proceedings and takes 3-4 years to receive it.
          and yes, they also cook the books to claim you owe them money so they don't need to give you your property back.
          the other thing is the judge won't give a shit about processing thousands of "small" requests piled on, they'll turn it into a class action lawsuit and you'll get pennies back from it, meanwhile the secured creditors and institutional investors will receive around 70%-80% of their money back.
          coinbase also has yield generating features.

        • 1 week ago
          Anonymous

          Have fun suing in a class action and getting 10c on the dollar. I don't get why anyone would keep their crypto in an exchange. You have to be extremely stupid to do that.

      • 1 week ago
        Anonymous

        >Coinbase is likely to declare bankruptcy
        >t. retard that's never once looked up their financials
        You LULZ doomer tards are so dumb holy shit

        • 1 week ago
          Anonymous

          well, leave your coins on goybase.
          enjoy the benefits of being an unsecured creditor during the largest financial crisis of your lifetime.
          and I can say that confidently, because you'll be likely to rope after your left destitute, when you could've just withdrawn your digi money.
          we all make our own decisions though.

          • 1 week ago
            Anonymous

            I literally have nothing on goybase except maybe 10 bucks worth of free rewards from their gay quizzes.
            You on the other hand seem convinced everything in the world works out like the idiotic conspiracies that get peddled to you on nitwit forums like LULZ, despite the fact that they've been consistently wrong about everything so far.

    • 1 week ago
      Anonymous

      Items in storage and physically present in the real world. You can go and collect them. If your digital magic money storage disappears.

      POOF. Its gone.

  10. 1 week ago
    Anonymous

    in the past I'd have pointed out Coinbase survived multiple bear winters, it'll be fine. but since they went public last year things can get bad fast, don't keep funds there

  11. 1 week ago
    Anonymous

    I work for this bald retard. 100% unironically. Withdraw as soon as you can

    • 1 week ago
      Anonymous

      I cant. They wont let me. How do I withdraw?????

    • 1 week ago
      Anonymous

      >my father works at coinbase

  12. 1 week ago
    Anonymous

    >has been around since Bitcoin was double digits
    >still around now that Bitcoin is 5 digits
    >They're going bankrupt now guys someone on the Internet said so!

    • 1 week ago
      Anonymous

      you forgot a couple steps
      >pay half a mil wages to software engineers
      >hire thousands of them
      >btc devalues 66.6%
      >btc will continue to devalue
      >no one wants to trade so commissions go down

    • 1 week ago
      Anonymous

      Exchanges are how you actually cash out tetherbucks. The cash they have on hand is from customer deposits. So whales (transferring their shitcoins to coinbase) cashing out drains their reserves on hand. This on top of operating expenses means they are primed to explode eventually since they really just make revenue scalping trade volume.

      • 1 week ago
        Anonymous

        >they are primed to explode eventually since they really just make revenue scalping trade volume.
        This isn't "entirely" true, but before I even begin to dive deep into that, I would like to remind you that we're not even close to the bottom. And as we head lower and lower, the average transactions will diminish in value (see global mc) as prices go down, which means less money for YOU (the trader) and less money for the middle man (CB).
        Tie this in with their current revenue, current spending, their own MC and liquidity?
        If a lot of people pull out, CB will be in a bind, regardless to how much cash they're sitting on.
        Mind you, they're still dealing with an open court case and are being sued for more than what they can afford to lose.
        Almost every variable to date is against their favor.
        In fact, the only positive thing for them is the fact that they're sitting on a couple billion. Besides that, it's not looking good for them.

  13. 1 week ago
    Anonymous

    See where your sinophobia got you? You should've put your coins on Kucoin or Binance; They're infinitely safer.

    • 1 week ago
      Anonymous

      kek.
      Kucoin is a pajeet scam
      binance is just a scam

      • 1 week ago
        Anonymous

        I was really impressed with Kraken's meltdown about pronouns or something.
        glad my 'money' is safe with them.

        • 1 week ago
          Anonymous

          what? kraken are pronouns homosexualry now?

          • 1 week ago
            Anonymous

            no, they're against it. they're like anti-sjw.

  14. 1 week ago
    Anonymous

    idiot you can cash out from coinbase and not from coinbase pro

  15. 1 week ago
    Anonymous

    [log in to view media]

    When COIN files for bankruptcy, I'm gonna buy some of their stock and wait for a triple-digit bk pump like REV and ELMS did.

  16. 1 week ago
    Anonymous

    Not your keys, not your coins, op.

  17. 1 week ago
    Anonymous

    they've already sold your btc lmfao

  18. 1 week ago
    Anonymous

    2 more weeks

  19. 1 week ago
    Anonymous

    Its a public company check their balance sheet on the sec website retard..

  20. 1 week ago
    Anonymous

    bros, what about bittrex? are they legit, or are they gonna rug? I still have some monies there from the 2017 bull run
    I already got rugged by quadriga and at this point I don't trust any exchange but I don't want to pull all my money from crypto

  21. 1 week ago
    Anonymous

    [log in to view media]

    OH SHIT OH SHIT OHSHIT OHSHIT OHSHIT

  22. 1 week ago
    Anonymous

    If you don't own the key, you don't own the wallet. You retards don't learn

  23. 1 week ago
    Anonymous

    >I have 4.2 BTC
    No you don't lol

  24. 1 week ago
    Anonymous

    >could become company property

    uh, wouldn't we become creditors

  25. 1 week ago
    Anonymous

    Very likely, I don't trust hairlets

  26. 1 week ago
    Anonymous

    i put $200 in bitcoin back in 2018 so i could buy a LULZ pass and shitpost while i was in okinawa do u think coinbase will give me my $200 back,

  27. 1 week ago
    Anonymous

    Big if true, but literally doesn't affect me regardless of whatever the fuck happens to spot price.

  28. 1 week ago
    Anonymous

    Coinbase is an FDIC member, right?

  29. 1 week ago
    Anonymous

    collect flat tax from the population to burn

  30. 1 week ago
    Anonymous

    lol I sure hope they fail, I owe them 100 dollars.

  31. 1 week ago
    Anonymous

    [log in to view media]

    >Celsius insolvent
    >Coinbase insolvent
    >Finblox insolvent
    funds are safe, right?

  32. 1 week ago
    Anonymous

    Coinbase is safe annon. I have some gems on it as well as Kraken. Both contain my biggest crypto bags, Eth and Scrt respectively. Your funds are SAFU.

  33. 1 week ago
    Anonymous

    Blitz. Scaling.
    Coinbase will survive, it's integral for the WEF on american crypto goyim.

  34. 1 week ago
    Anonymous

    very likely.

  35. 1 week ago
    Anonymous

    [log in to view media]

    YA NO-GOOD CIA BACKED TROON
    LEX LUTHER LOOKIN'
    BIT-PIE STEALIN'
    CRANIUM SHININ'
    SUPER BOWL ADVERTISIN'
    SHITCOIN SLINGIN'

  36. 1 week ago
    Anonymous

    Never trust a bald man

  37. 1 week ago
    Anonymous

    Money spent on development and administration trippled since last year.

    Maybe they should stop with the diversity hires for a bit.

  38. 1 week ago
    Anonymous

    [log in to view media]

    this was a news one moth ago and you are a fag

  39. 1 week ago
    Anonymous

    Just withdrawn all my crypto from Coinbae Pro after waiting 48 hours from disabling whitelisting. Worked 100% fine, fast no issue with BTC DOT ETH LINK.

    Alot of fud here but thought better be safe with all the withdrawal suspensions going on these days.

  40. 1 week ago
    Anonymous

    Its unlikely they'll go under but the fact that article/headline came out is worrying. My guess is they overextended themselves while the market was good and didn't think shit would go this sour this quickly. A lot of buyers/volume has gone from crypto and isnt gonna be back for years though, so who knows. No such thing as too big to fail

    • 1 week ago
      Anonymous

      The hairline is worrying as well.

  41. 1 week ago
    Anonymous

    Serious question, has anyone successfully transferred crypto to Coinbase and cashed out recently? Wondering if my shit will get frozen as soon as I transfer it over.

    • 1 week ago
      Anonymous

      yes. I've been swinging algo all week.

  42. 1 week ago
    Anonymous

    Type "pro." before coinbase.com and use that. Allowed me to w/d all of my "stuck" funds.

  43. 1 week ago
    Anonymous

    Funds are safu

  44. 1 week ago
    Anonymous

    All these ZOOMERS are learning about debt subordination in real time. i love it LOLOLOL

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