What would happen to cryptocurrencies if Coinbase goes bankrupt?
Jan Meriss Alfonso Assistant at Ascent Law LLC What Happens to Cryptocurrencies If Coinbase Goes Bankrupt? Bitcoin Coinbase is a major cryptocurrency exchange, and it holds as much as $256 billion in customer funds and assets. The company is not bankrupt, but it lacks the protections of a bank, which means that if the exchange goes down, customers would be out of luck. If the company goes under, it is likely that the exchange's assets would be used to pay off debts, and customers would have to claim their money back. Ethereum The decentralized global computing platform Ethereum supports peer-to-peer applications and smart contract transactions. "Ether" is the native crypto asset of the Ethereum network. A fork occurs when the main chain is split into two separate blockchains, creating a new crypto asset. A crypto asset is held in a "hodl," or "hodl wallet," by a member of the crypto community. Another type of wallet is called a "hot wallet....