Coinbase is more than just a trading platform, and new products driven by the Base blockchain and stablecoins will drive a bright future.
If you're a Coinbase user, you may be able to use the bitcoin you own as collateral to get a loan thanks to a new service launched Thursday. But the offering has its risks.
Donald Trump’s most recent cryptocurrency moves reveal a more substantial alignment with Ethereum rather than Bitcoin.
On the other hand, Coinbase is less affected by Bitcoin price fluctuations. As long as trading volumes remain high, whether through sell or buy transaction, it will continue make money from the trading fees. This article first appeared on GuruFocus.
Bitcoin’s march toward mainstream acceptance is well underway, and those paying attention stand to benefit the most.
Coinbase director Conor Grogan says Bitcoin wallets left behind by Ross Ulbricht when he was imprisoned for his underground online marketplace Silk Road are still holding tens of millions of dollars worth of BTC.
Coinbase, in partnership with Morpho Labs, has launched a Bitcoin-backed loan service, allowing U.S. users to borrow up to $100,000 in USD Coin (USDC) using their Bitcoin as collateral.
Furthermore, instead of issuing these loans on a blockchain even remotely related to Bitcoin (such as Bitcoin sidechains or Bitcoin L2s), Coinbase is issuing them through Morpho Labs, a DeFi platform best described as an AAVE competitor. While Morpho is a well-established platform—and I don’t doubt its security—it has no connection to Bitcoin.
Coinbase's setup caps each borrow at $100,000 in USDC. To borrow that much money customers will need to post more than that amount of bitcoin. Morpho will start liquidating the collateral if the loan-to-value ratio flies too close to the sun.
According to Arkham Intelligence, his wallet address has received 2.62 BTC, approximately $272,000, which includes the Kraken donation. Another address associated with Ulbricht has collected $4,615 in Ethereum, USDC, Tether (USDT), and Binance Coin (BNB).
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