{"id":441573,"date":"2022-05-04T06:31:47","date_gmt":"2022-05-04T03:31:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs\/"},"modified":"2022-05-04T06:31:47","modified_gmt":"2022-05-04T03:31:47","slug":"coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs\/","title":{"rendered":"# Coinbase took out the first Bitcoin-backed loan from Goldman Sachs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3aba1605757\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3aba1605757\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs\/#%E2%80%9D_Coinbase_took_out_the_first_Bitcoin-backed_loan_from_Goldman_Sachs_%E2%80%9C\" >&#8221; Coinbase took out the first Bitcoin-backed loan from Goldman Sachs &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs\/#Armstrong_on_social_media\" >Armstrong on social media<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Coinbase_took_out_the_first_Bitcoin-backed_loan_from_Goldman_Sachs_%E2%80%9C\"><\/span>&#8221; Coinbase took out the first Bitcoin-backed loan from Goldman Sachs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>America\u2019s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street\u2019s first Bitcoin-backed loan from Goldman Sachs.<\/p>\n<p>Goldman Sachs has $2.5 trillion assets under management as of 2021.<\/p>\n<p>Bloomberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-03\/coinbase-is-on-other-side-of-goldman-s-first-bitcoin-backed-loan\">reported<\/a> on Tuesday that the Bitcoin-backed loan issued by Goldman had been taken out by Coinbase as a way to deepen ties between the crypto and tradfi world, with the head of Coinbase Institutional Brett Tejpaul stating that: <\/p>\n<blockquote><p>\u201cCoinbase\u2019s work with Goldman is a first step in the recognition of crypto as collateral which deepens the bridge between the fiat and crypto economies.\u201d<\/p><\/blockquote>\n<p>The dollar value of the loan has not been disclosed, but it was collateralized by a portion of Coinbase\u2019s total holdings of 4,487 Bitcoin, worth around $170 million today. The loan features 24-hour risk management, but requires Coinbase to top up its BTC collateral if prices fall too low.<\/p>\n<p>While Bitcoin-backed and other crypto-backed loans are commonplace in the crypto industry, especially on decentralized finance (DeFi) protocols, they are a curiosity in traditional finance where crypto is seen as too risky and volatile as collateral.<\/p>\n<p>However, asset management firm Arca wrote in a May 2 blog <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ar.ca\/blog\/a-brutal-end-to-a-brutal-month\">post<\/a> that potential borrowers are looking for more such options. It said, \u201c[This loan] demonstrates the willingness of institutions to utilize new tools with old techniques.\u201d<\/p>\n<blockquote><p>\u201cIt is far more likely that Goldman is seeing a lot of demand for this type of transaction and is just testing the waters before making a bigger splash.\u201d<\/p><\/blockquote>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> of the Bitcoin-backed loan sparked commentary on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>. Regarding the loan, Bitcoin podcaster Preston Pysh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PrestonPysh\/status\/1521514745286868993\">tweeted<\/a> Wednesday: \u201cNo wonder the SEC is hiring people.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/b31c7950-ef3c-4787-a4dc-6118f4eb99ca.PNG\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Armstrong_on_social_media\"><\/span>Armstrong on social media<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Meanwhile, Coinbase CEO Brian Armstrong, has laid out his vision for free speech being enabled through decentralized social media platforms. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/milkeninstitute.org\/video\/crypto-pioneers-conversations\">told<\/a> the Milken Institute on May 2 that under new owner Elon Musk, Twitter has an opportunity to \u201cessentially embrace using a decentralized protocol\u201d which the platform could operate on. <\/p>\n<blockquote><p>\u201cI think freedom in all forms is worth defending and crypto, a lot of it, is about economic freedom. Freedom of speech is another version.\u201d<\/p><\/blockquote>\n<p>Armstrong believes a decentralized social media platform would allow content creators to make their own moderation policies and thaaccess to all the content would be democratized rather than algorithmically ordained. This would prevent certain content streams from being stifled on a platform and allow users to see whatever they choose to.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Coinbase CEO responds to insider trading allegations with changes for token listings<\/em><\/strong><\/p>\n<p>If Twitter does not embrace the opportunity, Armstrong points out that there are teams working on decentralized social media platforms already, which he called DeSo, where users can own their own identity on the platform.<\/p>\n<p>Twitter\u2019s founder Jack Dorsey has been working on a decentralized social media platform called Bluesky since 2019, which operates independently from Twitter. Bluesky <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blueskyweb.org\/\">aims<\/a> to drive the adoption of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> where \u201ccreators have control over relationships with their audiences, and developers have the freedom to build.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Given the surge of interest in Twitter&#8217;s future, we thought this would be a good time to clarify the relationship between Bluesky and Twitter.<\/p>\n<p>\u2014 bluesky (@bluesky) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bluesky\/status\/1518707597532024832?ref_src=twsrc%5Etfw\">April 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinbase-took-out-the-first-bitcoin-backed-loan-from-goldman-sachs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Coinbase took out the first Bitcoin-backed loan from Goldman Sachs &#8220; America\u2019s largest crypto exchange Coinbase has been revealed as the mystery firm that took out Wall Street\u2019s first Bitcoin-backed loan from Goldman Sachs. Goldman Sachs has $2.5 trillion assets under management as of 2021. Bloomberg reported on Tuesday that the Bitcoin-backed loan issued&#8230;<\/p>\n","protected":false},"author":1,"featured_media":441574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvYzA5ZDkyNGEtNjU0Mi00Y2FhLTkzYmItMGJmOWI0Yzc4ZWIxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74956,117,70790,73808],"class_list":["post-441573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-coinbase","tag-business","tag-goldman-sachs","tag-loans"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=441573"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/441573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/441574"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=441573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=441573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=441573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}