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43 sats \ 1 reply \ @IamSINGLE 21 Feb \ on: Who Really Owns Coinbase's Crypto? (Wall Street Journal, Jonathan Weil) econ
The cryptocurrency exchange had shown $291 billion of assets as of Sept. 30. At year-end, they were $23 billion. Total liabilities, once $282 billion a few months earlier, dropped to $12 billion.
Did Coinbase cleared its liabilities with the assets? I'm not sure they can do it, nor do I understand clearly the economics behind it. It's my general assumption.
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0 sats \ 0 replies \ @denlillaapan OP 21 Feb
No they moved customers' funds off balance sheet, to at least in an accounting sense show that they don't belong to Coinbase
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