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:风向标)
- ·OKX 首席行銷長 Haider:揭秘 OKX Web3 錢包的全新升級,將帶來無限可能
- ·10月31日财通稳进回报6个月持有混合C净值增长0.02%,近3个月累计上涨0.06%
- ·汇算清缴人数平均值怎么算
- ·巨鲸囤积2万亿PEPE代币浮盈766万美元
- ·有人知道为什么拍拍贷的额度为0吗?
- ·比特币怎么运作 比特币怎么运作的
- ·豪华团队 + 顶级 VC,明星项目 Sahara AI 该如何交互?
- ·Uniswap 的总交易量翻转 Raydium
- ·交易量增长 86%,香港如何成为东亚 Crypto 市场领头羊?
- ·国内货币交易软件_交易所数字货币_国内买币软件排名
- ·51分期信用管家可分期额度什么意思?
- ·虚拟货币怎么发行
- ·2005 年以来第一次,美联储「罕见分歧」,敏锐的交易员「接下来有没有大幅降息不好说了」
- ·ada币今日行情
- ·对话 MEET48 COO:MEET48 的 AIUGC 生态的豪赌和野望,AI-LLM 和 Web5 构架篇
- ·9月去青海湖什么天气-9月去青海湖什么天气好
- · 欧易正规
- · 欧易app官方下载入口
- · 全球三大虚拟货币交易平台
- · okcoin交易平台
- · 数字货币交易平台app
- ·欧易交易所下载
- · 欧易开户
- · 虚拟货币交易平台排名
- · 0kx交易所官网
- · 虚拟货币交易平台排名