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:银饰)
- ·美国游客在伦敦遭遇假Uber司机盗窃,损失价值超12万美元加密货币
- ·随着用户涌向 Uniswap Layer 2,Unichain 交易量接近 120 亿美元
- ·friend.tech消亡,Pump.fun兴起,我们能从中学到什么?
- ·易欧app官网(v6.1.41)_欧米币交易所
- ·比特币市值突破9000亿美元大关:市场强劲复苏的里程碑
- ·p网虚拟币交易平台
- ·计算矿机收益软件
- ·十大币圈交易所app下载v4.1.23_ok平台交易所最新版本下载地址
- ·火币提现多久到账
- ·ico交易平台开发
- ·天气有什么有什么-天气有什么有什么填空
- ·报废的FTX重新启动引发了对法律团队利润的担忧
- ·51信用卡管家零用钱怎么样?
- ·数字资产交易app 数字资产交易app快速版本v6.5.7
- ·火币以太经典
- ·宜人贷信用等级提高方法是什么,有人知道怎么提高信用等级吗?
- ·bytom怎么样 bottom品牌
- ·Democratic presidential candidate in the United States, Carrie Lam, made her first public comment on cryptocurrency
- ·虚拟币交易平台排名 10大虚拟币比特币平台排名榜
- ·比特币历年减产行情
- ·隱形基建05期|對話OKX Web3:挿件錢包的三大覈心優勢
- ·atis阿蒂斯行情-阿蒂斯是什么项目合法吗
- ·宜人贷app信用报告验证码是什么,没有收到是怎么回事?
- ·新易贷利率是多少?审核需要多久,对这个不是很了解。
- ·比特币(BTC)在 10.7 万美元价位遭遇猛烈阻力,山寨币大幅下跌(市场观察)
- ·BIAN 交易平台合法吗?Bianacb 交易平台的趋势如何?
- · okx官方
- · 数字货币交易所
- · 十大虚拟货币交易平台app
- · 欧易交易所 电脑
- · 虚拟货币交易平台排名
- · 欧易app官方下载入口
- · oe交易所app下载
- · 虚拟货币交易平台有哪些
- · OK交易所官网入口登录
- · 数字货币交易平台app