38 place 1

431 How Coinbase Is Seeking to Ease Crypto’s Credit Crunch

The Information
Yueqi Yang @ The Information · 05/16/2024 09:00 EDT

Crypto has always been a boom-and-bust business. And right now, Coinbase is flush.

That has allowed the crypto exchange to lend more money to big traders, which have struggled to borrow since the 2022 market collapse wiped out Genesis, Voyager and most other big crypto lenders. Coinbase’s loans to customers swelled to nearly $800 million at the end of March from $194 million a year earlier, with the exchange using some of its own capital to help grow the business.

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