Coinbase missed its revenue target and its shares lost nearly a quarter of their value. The CEO, Brian Armstrong The company is far from bankrupt and is guaranteed to be safe, but at the same time.
Due to the rules of operation a Loss The event was supposed to take place one day, users would lose access to their accounts and the money would become part of the company to meet its obligations.
This is not a decision of the company, but it is obligated to use the money to cover it. Debts In times of loss.
Pending control issue
as a Business Insider He explains that the regulation requires a certain amount of restrictions for its users, which is not the case with the bank’s declaration of bankruptcy, as is the case with IPAB in Mexico.
While Coinbase By stating that it does not pose a threat to investors at the moment, it will bring to the table one of the most pressing issues in our country, regarding regulation and consumer protection.
Armstrong as well He said he was confident Coinbase’s terms and conditions would improve. In the event of a bankruptcy in the near future, the funds will be protected and the company will not be required to fulfill its obligations.
The CEO apologized to users on Twitter, noting that no protections have been given to them at this time.
Armstrong concludes that Coinbase’s ultimate goal is to provide the best cryptocurrency storage solutions
The exit Coinbase stock price It is facing a general decline in the stock market in general and the technology sector in particular.
Crypto currencies are dragging along with the trend and bitcoin. The $ 30,000 ban has been reached, Has not appeared for a year. LUNA and TerraUST saw significant fall by more than 90% and over 50%, respectively.
At the same time to these activities Nubank In Brazil, it announced that it would allow bitcoin and ethereum to be purchased directly in the app.