Cryptocurrency Q&A
What is Coinbase backed by?
What is Coinbase backed by?
SolitudeNebula
Fri Jun 28 2024
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5 answers
913
Could you elaborate on the backers and investors supporting Coinbase, a leading cryptocurrency exchange? I'm curious to know the financial institutions, venture capital firms, or private equity groups that have invested in or partnered with Coinbase to facilitate its growth and expansion in the cryptocurrency market. Understanding the backers of such a significant player in the crypto sphere can provide insights into the industry's trends, as well as the financial resources and credibility that Coinbase possesses. I'd appreciate any insights you could share regarding the specific backers of Coinbase.
5 answers
Carlo
Sun Jun 30 2024
FDIC insurance guarantees that funds deposited in these accounts are protected, even in the event of a bank failure.
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Nicola
Sun Jun 30 2024
Additionally, Coinbase also invests client cash in U.S. government money market funds.
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KatanaSharp
Sun Jun 30 2024
These funds provide a low-risk, liquid investment option, ensuring that client cash remains readily accessible.
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Giuseppe
Sun Jun 30 2024
Coinbase prioritizes the safety and liquidity of its clients' funds.
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HanjiHandiwork
Sun Jun 30 2024
To ensure this, a significant portion of client cash is securely stored in FDIC-insured bank accounts.
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