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10 sats \ 1 reply \ @k00b 4 May 2022 \ on: Coinbase house of cards -- they're leveraging using your BTC | IIICapital bitcoin
How do we know they are using customer funds to do this? I would guess they aren't.
It wasn't stated, so you might be right. The Bloomberg article did show this:
"Coinbase held more than $566 million of cryptocurrencies including more than $183 million worth of Bitcoin, according to its 2021 annual report."
Regardless if it was their own funds, or their customer's bitcoin -- the following is true either way:
If your bitcoin is on Coinbase: Goldman Sachs now has a legal claim to it.
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