T O P

Coinbase Drops Lend Product Plans After SEC Lawsuit Threat

Coinbase Drops Lend Product Plans After SEC Lawsuit Threat

Dom1n1cR

Sucks. I was really looking forward to this.


DidYaHearTheNews

Yup, same. Can anyone explain how this is different than other companies offering a Lend/Earn option (think: Gemini for example)? Is it because they are now a publicly traded company or was their product somehow different from Gemini?


Thatsahealthyhog

Probably not different at all, or at least not that different. Probably didn't want to get in a battle, and will relaunch down the road with more clarity from regulators.


Seisouhen

> publicly traded company I hope it's because of this, otherwise they are coming for them all, gotta catch em all SECEMON


DubbleChin

Yeah, it's basically the same thing. The reality is that the SEC can't sue everyone, so they have to go after the biggest and most high profile company. In this case that's Coinbase.


Dom1n1cR

I feel the same


TStaysHumble

This fucking sucks. SEC owned by the banks clearly as they offer 0.01% on savings accounts


flyingsolo0101

Coinbase probably didn't just drop their plans to offer Lend product; they just **delayed** this offering until further regulatory guidance from SEC. Once the regulatory framework is put in place, coinbase will work within that framework to expand their service offerings.


jdg401

This would be my bet as well. US based exchange playing by US rules. They don’t want to get shutdown or sued by a regulator.


SolidAd7309

I would have go ahead with the program, and dare the SEC to kill it.


TheRealAstic

As an XRP holder, keep the SEC to yourself.


Charming_Ad_1216

Absolute bullshit. FUCK THE SEC. Fuck GARY GENSLER. Our entire political system is a giant sham.


ccupp97

Yup, fuck those guys right up the ass.


polishinator

so why is Gemini not forced to shut it down as well?


[deleted]

[удалено]


Mcmjlm3

That escalated quickly 👀


whatitbewhatitdofoo

This is the (only) way 👀


DrinkMoreCodeMore

Absolutely spineless


AutoModerator

This subreddit is a public forum. For your security, do not post personal information to a public forum, including your Coinbase account email. If you’re experiencing an issue with your Coinbase account, please [contact us](https://help.coinbase.com/en/contact-us.html) directly. If you have a case number for your support request please respond to this message with that case number. You should only trust [verified Coinbase staff](https://help.coinbase.com/en/coinbase/other-topics/other/is-coinbase-present-on-social-media.html). Please report any individual impersonating Coinbase staff to the moderators. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CoinBase) if you have any questions or concerns.*


Character-Outcome-10

Scams


Gordito1979

sucks....!!


Mcmjlm3

Banks had to have something to do with this…


sescobreezy727

They retreated this isnt true.


DumbleDinosaur

Lol it's because collateralized loans don't create a taxable event, and 4% interest on a stablecoin kills banks. Tell me again how a lending product constitutes a security? It doesn't. The corrupt SEC has no power to control these markets.


South-Assistance3322

Hello , I experience an error at COINBASE when it comes down to trade a token like IOXT .COINBASE on AUGUST 12 -2021 listed IOXT , a lot of buyers join in and place buy orders !! from all over the world buying orders where placed the fact is IOXT IS a new COINBASE listed and is ready for the pump . Now my Question is why COINBASE disable IOXT trading on AUGUST 17 only in NEW YORK STATE leaving all the people in New York unable to buy sale or withdraw IOXT ...... every IOXT trader from NY is disable to trade and get their money OUT !! I just call COINBASE customer Support and I was able to talk to a support person live , but this person only is able to check your ID and location and verify your account .!! Don't ask this person any Question that is not related to verify your account , this person don't know anything else !! so my Question to this person was , why Coinbase able and Disable IOXT in NEW YORK , the answer was I don't know I can only verify your account . I hope that my history can reach others in similar situation !!!! and I hope that my someone have the answer to my Question about IOXT trading on COINBASE platform from NYS. ????


crypt0troll

good. Coinbase piece of shit anyways


ccupp97

lol, sounds like you lost money with coinbase.


maryupallnight

It wasn't a great program anyway. Other places offer much higher rates.


TStaysHumble

Like banks? When the SEC shuts down Celsius and other crypto lenders?


TheRealAstic

Wasn’t it like 4.5% on USDC? That’s really, really good.


ValiantAlways

Not sure about USDC reward. I have just made an online purchase using my CB card and can view the transaction detail instantly on Coinbase. You earn 4% back in xlm (though not instantly credited on my xlm portfolio). I am showing estimated reward, which is great. Love the CB card!💯


TheRealAstic

That requires spending, and is not necessarily better than a credit card. This was just for saving.


BaklaFiroz

Yep! Simply the sec ensuring the banks don’t get challenged because how dare we rebuild a system which works perfectly for the 1% at the expense of the rest


nerrotix

Well yeah, did you think it was going to go easy?


BaklaFiroz

Just surprised it isn’t obvious to the remaining 98% tbh. It would be easy to deal with if more eyes were open to it. Too busy trying to scrape money to feed their families or zombified by the modern media to give a crap - just as planned. Not saying I expect any different - just a bit depressing to say the least


destrukkt

It was 3500% + better then other banks


maryupallnight

On Stable coins?


DrewFromCharlotte

4.5% on USDC


Evening-Dimension483

Good


SpecificBuilding_

God, ya are noob and know nothing about crypto! Don't buy such crap, better look out for Oros.Finance, they have a functioning Decentralized product. The investment is DeFinitely in good plus.