Looks like coinbase might not have all the btc that their customers think they have.
If they don't have all that they owe to their customers, then they are short the price of btc.
A run on coinbase will squeeze them and force them to buy BTC.
This may be what has been happening to the btc price for the last week.
ETF providers are publicly asking coinbase for more liquidity. Who knows what they are asking them for in private?
ShortFiat / Short Fiat
npub1md…pctp9
2024-09-27 16:40:38
Author Public Key
npub1md39ua3h2s7204a7v5p9sdxmxx9qc7m4kr3r6naeuwfznad6d7nsxpctp9Published at
2024-09-27 16:40:38Event JSON
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"pubkey": "db625e7637543ca7d7be65025834db318a0c7b75b0e23d4fb9e39229f5ba6fa7",
"created_at": 1727455238,
"kind": 1,
"tags": [],
"content": "Looks like coinbase might not have all the btc that their customers think they have. \n\nIf they don't have all that they owe to their customers, then they are short the price of btc. \n\nA run on coinbase will squeeze them and force them to buy BTC. \n\nThis may be what has been happening to the btc price for the last week. \n\nETF providers are publicly asking coinbase for more liquidity. Who knows what they are asking them for in private? ",
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}