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)
-
公司业绩或多或少都有一些水分,有些是通过财务手段做出来的,但公司不会无目的的做这些东西,支撑的动力多半是上市。...[详细]
-
10月31日富国成长优选三年定开混合净值增长0.23%,近3个月累计上涨8.31%
我有房子住、有车子开还想怎么样。...[详细]
-
福建省位于中国东南沿海,是经济发达、文化底蕴深厚的省份之一。截至2023年,福建省共辖 9个地级市,分别是,福建有多少个市
最终他说他可以“战略投资”:70万人民币占30%。...[详细]
-
欧美狗狗币TR客户端官网_新加坡狗狗币TRAPP排行榜2023年
孤身一人在加拿大打工 靠扛猪肉2年赚2万美元 张兰,1958年出生于天津一个普通家庭,从小就跟着父母在湖北农村插队,后来回到北京,在北京三里屯附近一家蔬菜公司当会计,然后结婚生子,过着单调却安...[详细]
-
“消除对虚拟经济的误会是关键,正确对待实体经济、虚拟经济及虚假经济三者之间的关系更是当务之急。...[详细]
-
稳定币USDT香港渠道十大排名 稳定币USDT安装包国内能用分享
在上述两家公司的朝阳分公司(位于朝阳区十里堡),记者终于见到了“友友租车”的招牌。...[详细]
-
因此上交所质疑这个行为的合理性,并要求说明这一行为是否为故意增加资产,规避借壳上市。...[详细]
-
在全国又覆盖了一千个城市,都有布局都有落地。...[详细]
-
张旭豪:这些伟大的想法我们都是很清楚。...[详细]
-
任斌也承认,买药相对属于被动消费,而且偏一次性服务,用户粘性和频次都不会太理想。...[详细]