Coinbase Acts To Protect Customers Bankruptcy

Coinbase Files Amicus Brief in Prime Trust Bankruptcy Case

• Coinbase submitted an amicus brief in the Prime Trust bankruptcy case.
• The brief urges the court to uphold customer asset protections under UCC Article 8.
• Paul Grewal, Coinbase’s Chief Legal Officer, announced the filing on social media.
• Both Coinbase and Prime Trust agreements state that assets remain customer property.
• UCC Article 8 ensures customer funds are separate from a custodian’s bankruptcy estate.

Coinbase’s legal filing emphasizes maintaining customer asset protections under UCC Article 8, ensuring that assets held by custodians like Prime Trust remain with customers during bankruptcy proceedings.