Coinbase's Crypto-Backed Loans Experience Unprecedented Liquidations

This week, Coinbase's crypto-backed lending service saw significant liquidations as Bitcoin and Ethereum prices dropped dramatically.

Coinbase users encountered new challenges this week as the exchange's crypto-backed loan service experienced an alarming wave of liquidations due to plummeting prices of Bitcoin and Ethereum.

The recent downturn in the cryptocurrency market has significantly impacted users who opted for this lending product, leading to substantial losses. With Bitcoin and Ethereum values descending sharply, many customers found themselves in precarious financial positions.