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:货币)
-
和传统的大胃王比赛不同,吃播主播对食量没有太强的要求。...[详细]
-
百度取消新闻源的消息一出来,很多人就在讨论,这是不是要把那些时效性差的传统媒体往死了逼?我倒是觉得,既然存在就是合理了,这些媒体残喘了多年依然活着,恐怕还能继续活一段时间,再说也不是非要把它全部铲除殆...[详细]
-
但在唐一看来,这样的想法完全是胡说八道,逆水行舟不进则退,中国餐饮行业竞争如此激烈,生存下去的唯一办法就是做大做强,而这样必定要借助资本力量助推。...[详细]
-
而且,MOBA类游戏与其他的大多数游戏不同的是,MOBA是种完全由用户产生内容的游戏,当用户达到一定的数量,其势已经形成的时候,在可预见的未来将可能不会出现能与之匹敌的对手,《英雄联盟》就是这样一...[详细]
-
” 他仍然天不怕地不怕的样子说,欢迎媒体给做负面报道,帮忙吸引更多不怕被裁的人加入。...[详细]
-
(小蓝单车官网) 从中国复制升级为“复制中国” 在国内共享单车如火如荼发展时,两位华人将共享单车模式带到了美国科技创新中心—硅谷,他们创办的LimeBike,3...[详细]
-
来源:http://www.lafeiyule.org.cn/document.writeln('关注创业、电商、站长,扫描A5创业网微信二维码,定期抽大奖。...[详细]
-
在张兰的一手打造下,阿兰酒店就变成了南方的竹林,新奇的装修和菜品相结合,让她的酒店迅速有了知名度,食客慕名而来,生意兴隆。...[详细]
-
地图上有三条分路,是充分考虑到了游戏的可玩性之后得出来的结论,一条、两条所能带来的变化太少,四条变化又太多,三条看上去比较好,就先试试三条路,没想到,用户反馈确实好。...[详细]
-
单点突破是企业常规之路,一般是两个方向:一、官网SEO+博客+行业网站(包括B2B平台);二、微博微信+媒体网站(包括自媒体)。...[详细]