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A Lingering Question at Coinbase: Who Really Owns the Customers’ Crypto?
A Lingering Question at Coinbase: Who Really Owns the Customers’ Crypto? · The Wall Street Journal

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An odd thing happened when Coinbase reported its quarterly financial results last week. The bulk of its assets and liabilities abruptly disappeared. Rather, the company started using a different accounting treatment for the digital tokens it holds on behalf of customers.