Coinbase to cease issuing new Bitcoin-backed loans via Borrow service By Cointelegraph

Crypto exchange Coinbase (NASDAQ:) is stopping the issuance of new loans through its Borrow service, a product that allowed certain United States customers to post crypto as collateral to receive a cash loan.

In an email sent to Coinbase Borrow customers on May 3 that was shared by recipients on Twitter, the exchange said — without providing a reason — that from May 10, customers wouldn’t be able to take out new loans using Coinbase Borrow.