In the event of bankruptcy of the TOP-3, the crypto exchange will pay for debts with customers' money

Cryptocurrency exchange Coinbase, which is among the top three exchanges according to Coinmarketcap, has once again been caught in a scandal.

The information was posted on Twitter by trader Peter Brandt. The controversial news came about thanks to the exchange’s report to the SEC, which contains a controversial paragraph on the inclusion of customers' cryptocurrencies in the assets from which compensation will be paid in the event of bankruptcy. In other words, if the crypto exchange declares bankruptcy, the debts will be repaid at the expense of the crypto assets of those who keep money on the platform.

The head of Coinbase has already stated in a comment to Coindesk that the exchange is not facing bankruptcy and that it is simply filling out reports due to a new SEC requirement.

Perhaps his statement is worth believing, but since November last year, the crypto exchange’s shares have fallen 5 times. In such a situation, you should at least pay attention to the fact that your assets are not protected in case of further problems.