Coinbase, one of the world’s leading crypto exchanges, offers crypto money as collateral to get cash loans. Borrowmade a striking announcement about his service.
coinbase, on 3 May BorrowIn an e-mail sent to customers and also posted on Twitter by recipients, customers from May 10, without giving any reason, He said they can’t get new loans with Borrow.The Borrow service generally offers up to $1 million without credit checks, as long as users provide Bitcoin as collateral. debt possibilities was offering. Considering the turbulent state of the crypto market, this move by Coinbase has confused investors.
Statement Regarding the Incident Received from Coinbase
Emphasizing that there will be no impact on outstanding loans and customers do not need to take any further action. from Coinbasemaking a statement on the “We regularly evaluate our products to make sure we prioritize the offerings our customers care about most.”said.
The increasing complexity in the crypto industry and the news feed of the market has been further ignited after this decision by Coinbase. Coinbase, which has just started to plan as of May 10, has given signals that they can make changes in other services as well.
