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Market Cap:
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Bitcoin Bitcoin Share: 59.93%
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Ethereum World News
2023-05-04 12:56:49

Coinbase Shutters Bitcoin Backed Loans Starting May 10

Coinbase Shutters Bitcoin Backed Loans Starting May 10

Summary: Coinbase users will no longer be able to borrow up to $1 million using Bitcoin as collateral. The crypto exchange plans to shut down its Borrow program starting May 10, 2023, due to insufficient demand for the product. Wednesday’s decision also comes amid a tussle between U.S. regulators and crypto businesses like Coinbase, Kraken, and Binance. Coinbase users will no longer be able to access cash loans using Bitcoin as collateral as the company moves to unwind its Borrow

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