Cryptocurrency Q&A What happens if Coinbase goes under?

What happens if Coinbase goes under?

Alessandro Alessandro Wed Dec 04 2024 | 6 answers 1235
I'm concerned about the stability of Coinbase. If the company goes under, what would be the impact on my digital assets stored there? Would I lose access to my cryptocurrencies? What happens if Coinbase goes under?

6 answers

CryptoVeteran CryptoVeteran Fri Dec 06 2024
Your exchange accounts may face the risk of being frozen. This can happen in situations where exchanges encounter liquidity problems.

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HanbokGlamourQueenEleganceBloom HanbokGlamourQueenEleganceBloom Fri Dec 06 2024
When liquidity issues arise, exchanges often take preemptive measures to safeguard funds. One such measure is freezing customer accounts.

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ShintoMystery ShintoMystery Fri Dec 06 2024
The freezing of funds is intended to ensure that money remains available and is not moved or withdrawn. This practice aims to maintain the integrity of the funds during a crisis.

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Sara Sara Fri Dec 06 2024
In anticipation of a potential bankruptcy, exchanges freeze funds to create a pool of resources that can be used to settle debts. This approach helps in managing the aftermath of a financial collapse.

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SamuraiCourage SamuraiCourage Thu Dec 05 2024
By freezing funds, exchanges hope to avoid situations where creditors are left unpaid and customer funds are lost. It is a precautionary step taken to protect all stakeholders involved.

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