Blockchain

Irish central bank fines Coinbase Ireland $3.6 million over fund safeguarding failures

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 22/10/2026, 15:55:24 UTC.

Briefings

In October 2023, during Silvergate Bank's near-collapse, Coinbase Ireland instructed 30 customers to move funds to an alternate account held by Coinbase at a different U.S. bank. This action was taken to protect customer assets, though it raised concerns about fund safeguarding practices. The incident occurred in late 2023 and involved a specific number of affected customers.

Key points

• Coinbase Ireland instructed 30 customers to move funds to an alternate account held by Coinbase at a different U.S. bank during Silvergate Bank's near-collapse in late 2023.

Context

This incident occurred in late 2023 when Silvergate Bank was on the verge of collapse, prompting Coinbase to take emergency action to safeguard customer assets.

Limitations

Evidence is limited to a single incident from late 2023 involving 30 customers. No details on the specific U.S. bank, the nature of the alternate account, or the long-term consequences of this move are provided.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 22/10/2026, 15:57:20 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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