Coinbase Responds to Allegations that Users Would Lose Funds in the Event of Bankruptcy

A message to our customers:

"TLDR: Your funds on Coinbase are protected, secure, and yours."

"You may have heard some noise recently about who owns your assets and what claims Coinbase creditors may have to them. The reality is that your assets are... your assets. Not ours or anyone else's. We want to reiterate these two important points for anyone who has questions.

First, and most importantly, your funds are safe at Coinbase, and they always will be.

As we’ve said for years in our User Agreement with you (Section 2.6.1.) your assets are just that--yours. Not ours or anyone else's. Customer retail funds are and always will be accounted for entirely separately from our corporate accounts. We’ll say it again. Your funds are your own. They have been and always will be accounted entirely separately from our corporate accounts.

Second, our business is healthy and we are committed to crypto for the long-haul.

Market conditions have changed due to a large number of factors, and their impact extends beyond crypto and tech. Our balance sheet remains healthy and we will continue to invest in the products and ventures that will create better experiences and value for our users.

Coinbase was founded in 2012 and we’ve emerged from every single cycle to date stronger and more focused on our customers. We will never waver in our commitment to the security of your funds that you’ve entrusted to our platform. We are here for the long-haul.

Now, back to building the future."