Will Bitcoin loss not be fully compensated? Coinbase Chief Legal Officer Interprets Controversial Terms of cbBTC
Recently, someone in the community pointed out a concerning clause in the user agreement of Coinbase's newly launched packaged Bitcoin product - cbBTC. This clause states that if the reserve base Bitcoin is lost due to malicious activity or unforeseeable events, Coinbase will not fully compensate customers, but will give customers a "proportionate share of the remaining Bitcoin".
Regarding this, Paul Grewal, the legal director of Coinbase, clarified that if Coinbase loses Bitcoin due to its own negligence or external malicious behavior, they will fully compensate customers for their losses, and even if these bitcoins are lost, Coinbase will ensure that customers will not bear these losses.
Paul Grewal further explained that Coinbase is only liable to a limited extent for the risks associated with some complex transactions or the use of leverage. For example, if a user uses cbBTC as collateral on a lending platform and the underlying Bitcoin is liquidated due to some malicious activity, Coinbase will only compensate them for the lost portion of Bitcoin and will not compensate for other financial losses caused by liquidation (such as liquidation fees or leverage losses).
In summary, Coinbase has clarified that they will fully compensate for Bitcoin losses caused by external malicious behavior, but if users participate in high-risk transactions, the potential losses caused by these transactions will not be within their compensation scope.
Due to the involvement of Sun Yuchen, the largest packaging Bitcoin in the Ethereum ecosystem, wBTC has raised doubts from various parties and provided development opportunities for packaging Bitcoin, including cbBTC.
According to previous reports from Zombie, the cbBTC issued by Coinbase accumulated nearly 2000 circulating tokens within just one week of its launch, becoming the third largest packaged Bitcoin token. Nevertheless, wBTC still dominates the market for packaging Bitcoin, with nearly 153000 tokens currently in circulation and a market value of approximately $9.6 billion, far surpassing its closest competitor tBTC, which has only about 3400 tokens.
On the other hand, the head of cryptocurrency exchange Coinbase Singapore also announced at the Solana Breakpoint 2024 event held in Singapore on Saturday that the company plans to introduce its cbBTC token into the Solana blockchain.
(责任编辑:现货金)
- ·2050 年的柴犬:到 2050 年,持有 1 亿 SHIB 可以产出多少
- ·人人贷利息管理费是多少?这个费用可以降低吗?
- ·闪电借款可以更换绑定的手机号码吗?
- ·币九交易平台
- ·仅当满足某些条件时,Pendle 加密货币才能迫使价格上涨至 7 美元!
- ·小树时代提现需要多长时间呢?我已经申请提现了。
- ·火币网上线etc
- ·美联储维持利率不变,鲍威尔称通胀已显著下降
- ·广州公积金贷款查询方法是什么,我想看看我的贷款情况
- ·eos钱包的usdt
- ·靠谱的比特币钱包推荐 比特币交易所钱包安全排行
- ·Cor Scintific的破产计划包括持有比特大陆和安克雷奇的股权
- ·SEC 指控 Unicoin 及其高管涉嫌 1.1 亿美元加密货币欺诈
- ·富国银行交易所-富国银行交易所官网
- ·dpos机制怎么挖矿 dpos挖矿算法
- ·法币聚合器 Transak 完成 2000 万美元 A 轮融资,C Innovation Capital 领投
- · 虚拟货币交易平台排名
- · 虚拟货币交易
- · 欧易开户
- · 0kx交易所官网
- · 亿欧app下载
- · 亿欧交易所下载
- ·欧易交易所下载
- · 欧亿交易所怎么样。
- · 数字货币交易app
- · 欧易app官方下载入口