TechFlow news — Coinbase announced that it has $15 million on deposit with FTX and has had no dealings with Alameda Research, nor has it extended any loans to FTX.
Coinbase stated that as a U.S. publicly traded company, it holds customer assets at a 1:1 ratio. Any institutional lending activities are initiated by customers themselves and backed by collateral, and there is no mechanism for recalling customer loans or restricting withdrawals.
Q3 earnings reports show Coinbase holds $5.6 billion in available cash liquidity, including $5 billion in U.S. dollars and cash equivalents. Additionally, Coinbase noted that its team members have decades of experience managing trading and credit operations across various economic cycles, and the company has invested in risk management capabilities since its inception.Source link
