Coinbase's holds $95 billion in cryptocurrency on behalf of customers. But Coinbase only has $6 billion in US fiat dollars in their bank account. As I understand it, this $6 billion was accumulated over time by scalping each customer trade. If a lot of people suddenly sell their crypto for dollars, where are those dollars going to come from, and is Coinbase extremely leveraged here? It seems like it would only take a request of more than 6 billion US dollars to cripple them. If there's a run on Coinbase, with no US govt to back it, won't they go bk and also most of the customers?
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