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)
- ·武汉公积金贷款新政策有哪些?想办理公积金贷款买房,了解一下政策。
- ·幸运币LKC价格-幸运币的价格
- ·手机贷款综合评分不足的原因是什么?为什么我综合评分不足?
- ·比特币为什么难挖 比特币为什么难挖掘
- ·火币HTX开启杠杆+质押双重福利,喜迎质押借币2.0重磅上线,畅享借贷0.09%超低利率
- ·新三板股票怎么卖-新三板股票怎么买
- ·SEC 指控 Unicoin 及其高管涉嫌 1 亿美元发行欺诈,误导 5,000 多名投资者
- ·AI框架BSCAN:能否引领区块链与人工智能融合的新范式?
- ·比特币勒索软件进展
- ·火币的红包
- ·个人所得税可以异地申报吗
- ·小蚁股什么时候跌 小蚁股什么时候跌停
- ·交易平台排名 世界8大虚拟货币 交易平台排名
- ·东台今天什么什么风-东台今天什么天气
- ·火币网的etc
- ·夫妻可以用公积金异地贷款买房吗?
- · 欧亿app官网正式版下载
- · 欧易开户
- · 数字货币交易平台app
- · okb交易所官网
- · 虚拟货币交易平台有哪些
- · 易欧app官网下载
- · oe交易所app下载
- · 全球三大虚拟货币交易平台
- · 虚拟货币交易平台排名
- · 欧易app官方下载入口