I mean this won’t actually happen right…right? TC: 🥜 #personalfinance #investments #crypto
if coinbase go bankrupt, there won’t be any value left for bitcoin. the market will completely lose confidence in crypto. unfortunately this might happen soon
You got it wrong. It’s the other way around.
U dont remember mt gox
Unlikely. But now that you mention it I’m gonna withdraw the stuff I have there
What are you drinking tonight?
Make it a poll
Coinbase does have $6 billion in cash on hand and an additional $1.3 billion of crypto holdings on its balance sheet as a buffer in a down market, Miller said, but the filing positions Coinbase to access capital markets quickly if its core business lines continue to face such strong headwinds.May 11, 2022 Why would they go bankrupt even if their stock drops another 90%
Because they will have no business left and still employees to pay. No business means pivot to something else or perish. Most likely they will shutdown and return leftover money to investors. Or pivot and spend all the money until going belly up.
That’s not how business and bankruptcy works.
Or anyone who is feeling bullish might buy them up. They already have the infrastructure up and pretty cheap now (vs Twitter). Maybe Elon might buy it 🤷🏻♂️
Hey!!! 🥜 is our IP.
Coinbase don’t use ur coins for lending though
The poll wording is not clear. But it is very much possible that Coinbase could file for bankruptcy and customer's assets are seized.
Crypto - when it becomes history, what do you think will happen to Coinbase ?