Coinbase to Stop Issuing New Loans Via Coinbase Borrow

Customers of the U.S.-based exchange who used the program – which allowed customers to borrow fiat loans up to $1 million against as much as 30% of their bitcoin holdings, with interest. Coinbase has been under extra examination from regulators following crypto exchange FTX’s collapse and is expecting enforcement action from the U.S. Securities and Exchange Commission (SEC) over alleged securities violations. However, the closure of Coinbase Borrow seems – at least for now – to be unconnected to any enforcement action. A person familiar with the matter told CoinDesk the closure of Coinbase Borrow had nothing to do with pending.

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