/biz/ - Business & Finance

would it be safe to short this?

>>52615460
this is...beautiful

That doesn't mean they can't cover it. Coinbase is licensed to do business in New York State unlike FTX.US

>>52615550
It does not matter. It always started this way for every last failed exchange or crypto “company”.

Right now the smart money is getting out.

>>52615612
>getting out
they're withdrawing, not selling

>>52615460
>only the third largest withdraw after the most bearish season crypto has ever seen

bullish news. also OP is braindead and a fag

>>52615621
They are getting out.

This has Credit Suisse vibes

>>52615621
>they're withdrawing, not selling
BTC still a ponzi and going to zero

I feel so blessed having low IQ doomers spread fear as it's doing wonders for my short. See you all at the new ATH in a few years.

So they withdrew it all with no problem? And you're trying to turn this into some kind of fud? How fucking retarded are you? Oh no, people withdrawing from exchanges!!!! The humanity!!!!!!!!!

Shills will come in here, but the writing is on the Walls. Having anything on a exchange is about the dumbest thing you can do, it's not like you are getting interest. Rates are going up convert crypto to cash and put in cds etc while you can still withdraw it. I give it another week. Everyone will get left holding bags like ftx

>>52615460
Look at this retard trying to stir up fear.
Everything is fine. The coin is based.

>>52615686
Ummm are you this dense? Withdrawals in billions, stock price in trash. It's all good bros lol

>>52615460
Brian Armstrong claimed on Twitter during the brief dispute with CZ that Coonbase holds 2,000,000 BTC. That’s a fucking bag to be certain. Does anyone else have a bag that big? Probably not. They probably sucker noobs into shitcoin alts and the dumps is primarily Coonbase swapping the shitcoin for BTC. Makes sense. I wouldn’t doubt it. Though, I’m still skeptical. As one should always be.

>>52615661
>>52615662
who cares? it's not fiat being redeemed

>>52615460
Thank you for your concerns

And now fuck off

>>52615726
>sirs we heff 20000000000 bitcorns!

>>52615734
And another bagholder who hols coonbase bags

>>52615688
i give it another week and you will still be low iq [ineffective] shill
screen cap this!

>>52615661
how do I buy this on ethereum?

>>52615460
>btc at 16k
This. Perfect time for normies to pull with low fees their BTC out and transferring to binance or BinanceUS where they charge zero fees for BTC. Coinbase literally can't survive now without increasing fees. I'm stuck holding only 1 share of COIN, hoping i can at least recoup my losses before they get delisted

You can hold your own crypto in your wallet. Exchanges are for exchanging your crypto then putting it back in your wallet. Normies are their own worst enemies.

>>52615460
Lmao, Bitcoin is fucked

>>52616219
dumping or unwrapping that wbtc shit-token to self-custody real BTC is great

>>52615621
they have burned 1.5 bill in usdc which means that 1.5 bill dollars have been redeemed

>>52616244
this
>>52616219
go back

>>52616192
uh, your VPN is showing.

>>52616192
you ever ask yourself how can an exchange of all things work without fees?

the real hole is in cbETH

>>52616330

so glad I got out of that shitcoin, CB and Vitalik are fucking scammers

>>52616330

Price of cbETH is determined by the market, it's not a 1:1 peg. If it ever came out that CB didn't have the reserves to meet their cbETH obligations, token price would just fall to zero because nobody would want to buy it and they'd be off the hook lmao.

>>52615662
A ponzi is where a middle man promises to pay old suckers with new suckers money, like social security.
Bitcoin just generates numbers on a strict schedule and records balances.
It doesn’t promise anything else. It doesn’t pay anybody anything.

>>52616494
>stands over a building and a half away
>oh he's so stunning and brave standing OUTSIDE OF THE FEDERAL RESERVE PAINTING LE PICTURE!
>STUNNING
>BRAVE

>>52615612
Shut the fuck up. Fuck Binance and its shilly fud.

>>52616284
>seems like they can't or won't survive lol
Ally Bank is offering 3% apy on their savings accounts with zero fees right now. You'd probably make more with them in 2023 than you will with hodling and dca'ing btc for another year and if you do cash out, the fees will wipe away a huge chunk of your earnings kek

>>52615487
No, the faggot OP is trying to stir up shit. Coinbase is audited and has a 1-to-1 of all crypto purchased. Unlike bullshit Bahama's business.

People taking custody of their coins is fine

I'm pretty sure I remember this same FUD in 2018. In fact I'm almost positive I remember feeling this exact sam way

>>52615460
Going into self custody, this is bullish. HODLers are HODLing.

>>52615460
>>52616192
using centralized firms to buy sell and story a decentralized currency, i cant decide if you guys are aggressively retarded or just pathetic

>>52616736

pray tell how to cash out for fiat without using a centralized exchange

goddamn you make me so angry with your retardation

>>52616521
This but unironically

>>52616521

acting like your are making a difference without actually making a difference is the American way

>>52615662
Pyramid scheme you faggot nigger retard

>>52615661
The stock is going down because crypto trading volume has collapsed. The whole sector is dead as a doornail. Doesn't mean they have somehow appropriated client funds.

>>52615460
>GET YOUR MONEY OUT OF COINBASE!
Get your crypto to a non custodial wallet before withdraws are stopped. If you have a Coinbase ""self-custody"" wallet on your phone DISABLE APP AUTO UPDATES!
>new user affiliate program shuts down
Every thing is fine.
>Coinbase Pro gets shutdown
Every thing is fine.
>Nate Anderson of Hindenburg Research has short positions on COIN
Every thing is fine.
>Moody’s has downgraded Coinbase’s corporate debt
Every thing is fine.
>layoffs 1,100 employees
Every thing is fine.
>7.2 billion cash reserve
>3.4 billion in debt much of which has to be paid back in 3 years.
>>Negative 545 million YOY net revenue
Golly gee I wonder what will happen if it can't make a profit for 4+ years?

Don't say I didn't warn you.

>>52616494
Ponzi = returns come from new participants in the scheme rather than profits. No need for promises.

>>52616996
None of that is even remotely relevant.

>3.4 billion in debt much of which has to be paid back in 3 years.
Complete and utter horseshit.

>>52616996

pretty sure we will see another bull within that time, all will be well

>>52616996
They have $5 billion in cash

Guarantee this is paid shilling from one CZ’s mongoloids

>>52617009
the layoff of over a tunasd people is relevant.
>Complete and utter horseshit.
pic related get fucked.
>>52617027
When COIN files for Chapter 11 I want you to remember my post.

>>52617070
>2028 is only three years away!
Imagine being this humiliatingly retarded. You can't even do elementary arithmetic and yet you dare to post your opinion on financial matters.

>>52615460
50,000 out of 2,000,000 reserve. Nice fud and nice bottom signal for $COIN

>nothingburger
>funds SAFU

Why are all these threads popping up lately? All the gullible newfags have left there's no one left you can fool anymore

>>52617102
>2028 is only three years away!
>>Oy vey they have 6 years to pay billions of debt off so everything is fine!
Except one that's stupid to think the extra years matter that much and two they must pay interest
on that debt every year.I'm right you are dumb.

>>52617108
>2,000,000 reserve
I thought it was 6 million?

>>52617151
Are you clinically retarded? You're the one who posted the blatant falsehood. I correctly identified your statement as complete and utter horseshit. Now you are seething over your own stupidity. Sad.

>they must pay interest on that debt every year
Holy fuck you're dumb.

>>52615460
>>52615661
>This has Credit Suisse vibes
You are a dumb nigger.
You are a subhuman gorilla nigger.

>>52617171
>>they must pay interest on that debt every year
Do you not know what interest is? LOL that's sad. And you ignored the rest of my (100% valid) arguments like a typical jew.

>>52617227
You got crushed, Shlomo. You got caught making shit up. It's over.

>>52615460
So someone took out 4.5% of their reserves as a stress test and it’s still standing. Good job

Try Binance next

>>52615487
Why wouldn't anyone be buying puts on COIN? Really is a no-brainer, my guy.

More gay, baseless fud.

Yawn.

>>52615460
Is it a good time to buy coinbase bonds? Its literally at a 50 percent discount

>>52617564
Massive upside if you think they won't default.
Keep in mind even with secondary market corporates the minimum orders and position sizes are high.

>>52617564
>>52617624
>if you think they won’t default

Well, if you wanna gamble, buy and hold until 2028

>>52616996
You forgot Brian Armstrong cashed out 100% of his equity
He literally jumped ship already (and he sold the last chunk at all time low)

Binance and Coinbase are literally the only exchanges shielded from happenings and yet gigaretards keep trying to push the "LE HAPPENINGERINO" narrative on them for some reason.
What's the explanation? Late shorter? Just the usual doomer stupidity?

>>52619569
>Binance and Coinbase are literally the only exchanges shielded from happenings
Shielded from who and what?
You are only shielded with self-custody so take your BTC out of Cuckbase

>>52615712
Are you? Withdrawals this big is what triggered the last liquidity crisis. Their capacity to handle this is a good sign, at least for now.

The fact that they had 50k bitcoins for people to withdraw means they are probably solvent as fuck. You bankrun fags are stupid

>>52619631
It doesn’t matter if they are solvent or not, you can be exposed to other risks such as frozen account or confiscation (happened to me)
The point is that you gain exactly ZERO from being exposed to those counterparty risk and taking self-custody is fucking free, just write down 12 words on a piece of paper and you are done, it’s easier to self custody than to remember your Cuckbase login and 2FA (which you still need to backup somewhere)
So tell me, what’s the fucking point of keeping your BTC inside Cuckbase?
None
Not your keys, not your coins
Avoid counterparty risk and you will be ok

>>52619677
This thread is discussing Coinbase's liquidity retard. Go with your canned "tip" said a billion times before somewhere else.
>you gain exactly ZERO from being exposed
Factually wrong. Not everyone is sitting on their BTC waiting for the bear market to end. Some people here actually bother swinging to grow the stack.

>>52619717
Not your keys not your coins, retard.

People said the same shit about FTX

>>52615688
I learned that the hard way with Mt. Gox
https://www.youtube.com/watch?v=1vAqaUwLg7g

>>52619764
>FTX and CB
>the same
You are just retarded. Go parrot your reddit lines to some other thread already.
Literally, you didn't address a single point. You unironically just parroted the line.

>>52619808
it's not a fucking line
i literally got rugged by Cuckbase, they freeze accounts all the time moron

>>52617182
based

>>52619835
Works on my machine. Skill issue.

>>52619910
hint: it's not temporary

>>52619935
Didn't ask. Sounds like a you problem.
Next time don't buy CP with your coinbase buttcorns.

>>52615726
That sounds impossible, isn't the cap on all the possible Bitcoins that will ever be mined 21,000,000 BTC? 2MM is a pretty big chunk of that.

>>52616744
craigslist

>>52615460
Anyone who doubts coinbase should call their cus service. Its 100% retarded literal new delhi scammer pajeets. Your money definitely isnt safe in coins. I had to get my bank to threaten them one time and they retrieved my money after 2 months.