Coinbase Sunsets Bitcoin-Backed Borrow Program
- Centralized Exchange
- Lending
- Regulation
Coinbase announced the shutdown of its Borrow program, which let users take out fiat loans using Bitcoin as collateral, effective May 10. The move came amid regulatory pressure and a broader pullback on lending products in crypto after disasters like Celsius. CT speculated this was a sign of exchanges playing it safe as the SEC tightened the screws. It marked another step away from the wild west of crypto lending for retail.