Is “Meltdown” The Correct Term To Describe The Current State Of The U.S. Economy? 250 Billion In Coinbase May Become Inaccessible

Right now, Coinbase is holding more than 250 billion dollars worth of assets for its customers, and there is a danger that all of it could become “inaccessible”…

Coinbase said in its earnings report Tuesday that it holds $256 billion in both fiat currencies and cryptocurrencies on behalf of its customers. Yet the exchange noted that in the event it ever declared bankruptcy, “the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings.” Coinbase users would become “general unsecured creditors,” meaning they have no right to claim any specific property from the exchange in proceedings. Their funds would become inaccessible.

theeconomiccollapseblog Is “Meltdown” The Correct Term To Describe The Current State Of The U.S. Economy?