.coinbase CEO brian_armstrong says the exchange has no risk of bankruptcy, and that risk disclosure language in its new 10-Q filing is simply a requirement of the U.S. Securities and Exchange Commission. thesamreynolds reports.
is simply a new requirement of the U.S. Securities and Exchange Commission and that Coinbase is in no danger of bankruptcy.SAB 121
The 10-Q, filed with the SEC Tuesday, says: “Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors,” Coinbase wrote in its recent filing.
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