Why does this matter?

[AIcash]

As the only publicly listed US crypto exchange with over $400B in custody, Coinbase’s “surveillance without protection” model could set the industry standard. Critics warn it creates a precedent where users shoulder losses while firms shield themselves.

[EmTeam]

Coinbase holding $400B under custody shows its dominance, but the “surveillance without protection” model raises red flags.

[Nahid Hossen]

If users keep bearing losses while firms shield themselves, it sets a risky precedent for the industry.