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:黄金TD)
- ·Win10开机密码设置三步搞定!windows10如何设置开机密码
- ·怎么挖比特币赚钱
- ·内衣穿对,舒适翻倍!如何穿内衣
- ·增值税小规模申报表如何填写
- ·郫县家电市场在哪里-郫县家电市场在哪里啊
- ·股票回购类型-股票回购类型一般可以分为
- ·大连工业园区在哪里-大连工业园区在哪里啊
- ·请问中银新易贷信用卡逾期会怎么样?我在中银新易贷信用卡逾期了。
- ·2025九大比特币交易平台 全球币圈9大交易所排名
- ·菲律宾央行考虑减持美国国债,多元化储备策略加速
- ·悠悠跑,慢跑中的养生智慧_悠悠跑是如何跑
- ·WalletConnect向Solana用户空投500万枚WCT代币
- ·如何获得币安手续费折扣邀请码?老用户怎么输入推荐码?
- ·下一场 DeFi Summer,有可能还是 DeFi Summer
- ·96公斤等于多少斤?一算就知道!96公斤是多少斤
- ·报告:90%的机构正在使用或探索稳定币的应用
- · 虚拟货币交易
- · okx交易所app官网
- · 欧易正规
- · 数字货币交易所
- · okb交易所官网
- · okcoin交易平台
- · ok币
- · 十大虚拟货币交易平台app
- · 欧易开户
- · 加密货币交易所