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Will Coinbase face regulatory action regarding cbBTC by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from regulatory bodies such as the SEC or CFTC
Story
BlackRock Amends Coinbase Custody Agreement, Adds 12-Hour Withdrawals for Bitcoin ETF
Sep 23, 2024, 11:41 AM
BlackRock has amended its custody agreement with Coinbase to require 12-hour withdrawals amid debt rumors. The amendment, detailed in a filing with the SEC, updates Section 2.1 of the Custodial Services Agreement. BlackRock's Bitcoin ETF is also part of this new agreement. Concerns have also been raised regarding Coinbase's cbBTC, a token representing Bitcoin. If Coinbase loses the underlying Bitcoin backing cbBTC, users may only receive a proportional share of the remaining Bitcoin, not the full value. This has led to criticism about Coinbase's transparency, as it does not provide a Proof of Reserves like other platforms.
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Concerns fully resolved • 25%
Concerns partially resolved • 25%
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New concerns arise • 25%
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Regulation imposed • 25%
No action taken • 25%
Fines imposed • 25%
Investigation ongoing • 25%
Release FOIA information • 25%
Settle with Coinbase • 25%
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Yes • 50%
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