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Coinbase CEO says funds are safe amid bankruptcy protection fears

05/12/2022

Less than a minute

2022.05.12 14:07

Coinbase CEO says funds are safe amid bankruptcy protection fears

Following the Coinbase (NASDAQ:COIN) report where the company declared its losses, a disclosure that suggests that users are not protected in the case of bankruptcy has been gaining traction on social media. However, Coinbase CEO Brian Armstrong explained that funds are safe “as they’ve always been.”

In the company’s first-quarter report for 2022, Coinbase reported its first loss amounting to $430 million. Apart from this, the firm also reported the number of users transacting in the exchange has also dropped from 11.4 million to 9.2 million.

05/12/2022

Less than a minute

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