{"id":78277,"date":"2023-05-04T11:42:00","date_gmt":"2023-05-04T08:42:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78277"},"modified":"2025-09-11T04:04:35","modified_gmt":"2025-09-11T01:04:35","slug":"coinbase-to-halt-bitcoin-backed-lending-via-borrow","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/coinbase-to-halt-bitcoin-backed-lending-via-borrow\/","title":{"rendered":"Coinbase to halt Bitcoin-backed lending via Borrow"},"content":{"rendered":"<p>From May 10, Coinbase will cease Bitcoin-backed lending via the Borrow service. Affected clients of the crypto exchange have been notified, according to <a href=\\\"https:\/\/cointelegraph.com\/news\/coinbase-to-cease-issuing-new-bitcoin-backed-loans-via-borrow-service\\\">Cointelegraph<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Users could borrow up to $1 million at 9% annual interest without a credit check, provided they lock up their first cryptocurrency as collateral. The loan-to-value ratio (LTV) was up to <a href=\\\"https:\/\/www.coinbase.com\/ru\/borrow\\\">40%<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>The service was launched in November 2021 as a convenient way to raise fiat financing without selling Bitcoin and the associated tax consequences.<\/p>\n<p>\\n\\n<\/p>\n<p>The reasons for the cessation were not disclosed.<\/p>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image size-full\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image-259.webp\\\" alt=\\\"image-259\\\" class=\\\"wp-image-206206\\\"\/><figcaption>Data: Coinbase, Cointelegraph.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>We regularly assess our products to prioritise those in which our customers are most interested<\/em>, the platform&#8217;s representatives said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Earlier the U.S. Securities and Exchange Commission (SEC) <a href=\"https:\/\/u1f987.com\/en\/news\/sec-issues-wells-notice-to-coinbase\">sent a notice<\/a> to the exchange regarding an investigation into listing procedures on the platform and its products \u2014 Coinbase Prime, Coinbase Wallet and <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a> service Coinbase Earn.<\/p>\n<p>\\n\\n<\/p>\n<p>In April the company <a href=\"https:\/\/u1f987.com\/en\/news\/coinbase-responds-to-sec-allegations-warns-of-reputational-risk\">responded<\/a> to the regulator&#8217;s complaint, stating it was prepared to &#8216;vigorously defend itself&#8217;. Platform representatives also noted that the SEC investigations could damage its reputation.<\/p>\n<p>\\n\\n<\/p>\n<p>Coinbase recently launched an international futures exchange for digital assets \u2014 Coinbase International Exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From May 10, Coinbase will cease Bitcoin-backed lending via the Borrow service. Affected clients of the crypto exchange have been notified, according to Cointelegraph.<\/p>\n","protected":false},"author":1,"featured_media":78278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,138,1097],"class_list":["post-78277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-coinbase","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=78277"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78277\/revisions"}],"predecessor-version":[{"id":78279,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78277\/revisions\/78279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78278"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}