Coinbase is acting as a bridge over the troubled waters between crypto and tradfi, revealed as the mystery firm that took out a Bitcoin-backed loan from Goldman Sachs.
issued by Goldman had been taken out by Coinbase as a way to deepen ties between the crypto and tradfi world, with the head of Coinbase Institutional Brett Tejpaul stating that:
The dollar value of the loan has not been disclosed, but it was collateralized by a portion of Coinbase’s total holdings of 4,487 Bitcoin, worth around $170 million today. The loan features 24-hour risk management, but requires Coinbase to top up its BTC collateral if prices fall too low. “It is far more likely that Goldman is seeing a lot of demand for this type of transaction and is just testing the waters before making a bigger splash.”
“I think freedom in all forms is worth defending and crypto, a lot of it, is about economic freedom. Freedom of speech is another version.”
France Dernières Nouvelles, France Actualités
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