Coinbase says it “had no financing exposure” to bankrupt crypto firms, including Celsius Network, Voyager Digital, and Three Arrows Capital (3AC). cryptocurrency bitcoin
Coinbase Confirms 'No Financing Exposure' to Bankrupt Crypto Firms Celsius, Voyager, Three Arrows Capital
“Solvency concerns surrounding entities like Celsius, Three Arrows Capital , Voyager, and other similar counterparties were a reflection of insufficient risk controls, and reports of additional struggling firms are fast becoming stories of bankruptcy, restructuring, and failure,” the Coinbase executives detailed, adding:
“Many of these firms were overleveraged with short term liabilities mismatched against longer duration illiquid assets,” they noted.
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