When Silvergate was on the verge of collapse in 2023, Coinbase instructed 30 customers to deposit funds into an alternate account held by Coinbase at another U.S. bank. Ireland’s central bank fined Coinbase Ireland 3.25 million euros ($3.6 million) for alleged failures in safeguarding customer funds and overseeing outsourced services. The regulator said Coinbase Ireland relied excessively on its U.S.-based parent and lacked adequate systems and controls, while Coinbase disclosed that coding err…
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