Coinbase had no financial exposure to Celsius, Three Arrows Capital, Voyager
Categories: Crypto News US

Coinbase had no financial exposure to Celsius, Three Arrows Capital, Voyager
According to a Coinbase blog post on Medium on Wednesday, publicly traded cryptocurrency exchange Coinbase (COIN) had no financing exposure to crypto lender Celsius, hedge fund Three Arrows Capital (3AC) or crypto broker Voyager Digital. The three troubled companies are seeking insolvency protection.
Coinbase Institutional Head Brett Tejpaul, Prime Finance Head Matt Boyd and Credit and Market Risk Head Carolyn Tarrick wrote that we have not engaged in these types of risky lending practices and have instead been prudent and customer-focused in our financing business. focused on manufacturing.
The group wrote that the shocks in the crypto credit environment over the past few weeks could be a major turning point for the industry. Notably, the issues here were foreseeable and were in fact credit specific, not crypto specific in nature. Many of these firms were mismatched with short-term liabilities versus long-term liquid assets.