Coinbase’s New Crypto Loans: A Tale of Financial Folly and Digital Gold

The company, with the timing of a man who has just remembered to take out the trash, announced this update on Feb. 18. U.S. customers (New York excluded, presumably due to the state’s suspicion of anything that sounds like a Ponzi scheme) may now borrow up to $100,000 in USDC by pledging these tokens. The service is available via Coinbase’s website and mobile app, where users can now feel the thrill of financial responsibility and the existential dread of liquidation all at once.