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Home BlockchainCoinbase's Crypto-Backed Loans Notch Record Liquidations Amid Bitcoin, Ethereum Plunge
Blockchain

Coinbase's Crypto-Backed Loans Notch Record Liquidations Amid Bitcoin, Ethereum Plunge

by Decrypt
written by Decrypt 0 comments
Coinbase's Crypto-Backed Loans Notch Record Liquidations Amid Bitcoin, Ethereum Plunge

In brief

  • Thousands of Coinbase users lost money this week as crypto-backed loans soured.
  • The exchange’s users have faced $170 million in liquidations over the past week.
  • The losses represent the most in the product’s one-year history.

Coinbase customers are experiencing pain in new ways as Bitcoin and Ethereum tumble, with losses piling up for thousands of users through the exchange’s crypto-backed lending product.

Over the past week, Coinbase users have lost $170 million worth of collateral…

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