Allright. Now that Coinbase has “dropped the mic” can some some of you calm down already?

So Coinbase went into crypto-rap-battle mode when Cheezey tried to throw some FUD into an already suffering market by starting the rumor that CB had no reserves. CB comes out swinging and basically drops the mic on Cheezy's ass and walks off the stage. A lot of you were poo-pooing CB and going all chicken little…

I stayed calm and watched it all play out because I have never really had any issues with CB. I don't really take advice from some of you lot. So lesson learned is that when Cheezy or some head Crypto guy talks everyone should take it easy and let it develop further before you make any rash decisions. Peace out.

Allright. Now that Coinbase has

50 thoughts on “Allright. Now that Coinbase has “dropped the mic” can some some of you calm down already?”

  1. Coinbase has so far proven themselves. I’ll continue to use them until proven otherwise.

  2. >So lesson learned is that when Cheezy or some head Crypto guy talks everyone should take it easy and let it develop further before you make any rash decisions.

    Oh and I was here thinking we should all panic, at once and all together

  3. USDC pros & cons and related info are in the collapsed comments below. Pros and cons will change for every new post.

  4. I’ll admit I have trust issues after FTX but Coinbase ended the discussion right there. They have more Bitcoins than Satoshi himself. 2 million Bitcoins… It’s so hard to comprehend how absurd that number is.

  5. Who knew Coinbase would be the hero in this space.. honestly didn’t see that coming

  6. People will never calm down. It’s crypto. It’s a wild roller coaster

    Get rich or die tying

  7. Coinbase is that kid we all went to school with that not only always scored A’s no matter the subject and actually enjoyed it because it was so easy for them.

  8. I wasn’t worried about Coinbase, I think them Binance, Kraken , Uphold, Gate.io & Kucoin will be fine.

    Even crypto.com will make it and I hate them.

    Anyone else, you’re a gambling degen and the risk must arouse you.

  9. CZ acting like a crazed villain lately trying to take over the world. Fuck that guy.

  10. I don’t know if CB will last or not but it does seem to be the most regulated and willing to comply

  11. People are never calm.
    They just react to the title in the worst way.
    I open a thread and every comment is the same.

  12. Fuck cz and binance already. The fact that there are Americans who got into crypto, totally bypassed an American regulated exchange, and went in on hyped exchanges offering ridiculous staking programs of 10-20% apr, is mind boggling to me. Someone close to me went with voyager because some crypto dueche recommended it to her because of the staking returns and I told her over and over, don’t you think this shit is too good to be true. But it fell on deaf ears, so now they’re paying the price.

  13. Folks out here like, SHOW US THE WALLETS OR IT’S LIES as if they’re asking the same kind of validity/proof from any of the thousands of other companies publicly traded in markets?

    Good on Coinbase for being honest and forcing other exchanges to do similarly. Exposing wallet addresses for wallets with that much BTC is not wise. And no other companies are dealing with that kind of pressure because they’re off chain.

  14. The lesson is be very suspicious of Binance. Lots of projecting coming from an exchange who holds a lot of assets in its own coin. Sounds familiar right?

  15. Pretty wild to see they have about 10% of all Bitcoin. Coinbase has been around and their leader is in it for the tech as a crypto OG. Good on them for taking this step.

  16. I’ve said it before and I’ll say it again:

    I don’t trust any exchange enough to leave my holdings on for more than an hour or so, but CoinBase clearly is different than the rest and has proven so time and time again.

  17. I never doubted Coinbase and always stood up for them and also Kraken. I have read both the user agreements/tos and they both seem very legitimate without shady ass shit. Unlike the Voyager agreement I’ve read, holy fuck that was shady AF.

  18. Good now maybe they can hire some fvcking technical support people. Coinbase has total shit support and is forcing users to use plaid now. They are not making good choices as a company and need to be called on it. when companies start doing cost cutting crap like that it makes people wonder about their viability.

  19. Coinbase aint a hero, there was an inside trader at the company that was caught slurping coins before putting them on the website to trade. CB does not get a free pass.

  20. The most important rule of Reddit is: Don’t listen to fools on Reddit. What kind of person do you think has enough time to post non-stop all day trying to farm Karma? F’ing degenerate losers, that’s who. This sub especially is nothing more than idiots regurgitating information trying to appear smart or pump their shit coin thinking they’re the next crypto millionaire.

  21. How does a crypto sub reddit keep promoting and defending centralized institutions, and people here are ok and keep supporting these types of post lmao

    They are also ok with so many centralized shitcoins too

  22. They didn’t exactly drop the mic. They are requiring additional re verification of previously verified information from users. I’m not the only one

  23. No reason to calm down. Binance could possibly crumble at any time since it’s probably held up by BNB and all of this shit by CZ is a show.

  24. Honestly I want to buy 100 shares of COIN stock and sell covered calls during the next few months.

  25. Called it 1 year ago on my channel that CZ is as shady as it gets … Binance not paying tax anywhere should be huge red flag .

  26. Holding BTCs for customers IS NOT THE SAME as owning the bitcoins. Headlines vs details is what get retail investors fcked.

  27. Fair enough. Might be worth visiting the the actual shareholder letter: https://s27.q4cdn.com/397450999/files/doc_financials/2022/q3/Q32022-Shareholder-Letter.pdf

    Page 20 you can see customer liabilities are exact to that of their reserves. Which is great.

    One problem though, is the company itself is tanking money. They have reported three quarters of losses, big ones too. Hence the stock being down 85%. Hopefully they manage to fix their profitability to stay in the market and provide a reliable CEX for people interesting in investing. They have about $5B of their own liquid assets to keep them afloat for now, but they can’t continue on this trajectory.

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