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:经济时评)
- 火币网的etc
- 长久物流7000万元委托理财到期赎回 投资获益14.43万元
- 火币和比特币中国和
- 韩国总统大选后全球加密市场的四大变化
- im钱包钱包密码-im钱包密码是几位数?
- DeFi Technologies推出合规稳定币进军现实世界资产领域
- 在建工程以前年度损益调整会计分录怎么做
- 银行加码审核,信贷闸门骤然收紧!
- 从格雷厄姆大师到中本聪:比特币价值投资者指南
- 区块链智能合约平台-区块链智能合约平台有哪些
- Bitwise:以太坊低迷,但它是很好的反向押注选择
- PancakeSwap交易量超越Uniswap,价格表现却揭示市场复杂动态
- 比特币市值突破9000亿美元大关:市场强劲复苏的里程碑
- 香港虚拟币交易平台-
- 比特币王者价格-比特币王者价格多少
- 人身意外伤害保险投保有啥条件?
- gnt币最新价格-gnt币行情
- 以太经典初始价格-以太经典 价格
- 美元债异动|中国CHINA 2.25 10/21/50价格下跌1.327%报65.653
- meme币交易所app下载官方 meme币最新版下载官方app下载
- okb交易所官网 views+
- okx网页版 views+
- 数字货币交易所 views+
- okcoin下载官方app views+
- 虚拟货币交易 views+
- 亿欧交易所下载 views+
- 虚拟货币交易平台排名 views+
- 加密货币交易所 views+
- 数字货币交易app views+
- okcoin交易平台 views+