Coinbase has introduced a borrowing feature allowing eligible U.S. users to access up to $1 million in USDC loans using cbETH (staked Eth) as collateral. cbETH represents staked ETH on Coinbase, enabling users to retain ETH price exposure and staking rewards without selling assets. This avoids capital gains taxes associated with sales. It also signals how fast crypto-backed lending is moving into the mainstream. Big platforms now package DeFi-style tools for regular users. EXPLORE: Why is BNB Crypto Down ...

Coinbase has launched a new borrowing feature that allows users to access up to $1 million in liquidity using cbETH — its tokenized representation of staked ether — as collateral, giving investors a way to raise cash without selling or unstaking their ETH. The product, now available to eligible U.S. customers excluding New York, lets users borrow USDC against cbETH held on the platform and convert it to dollars inside Coinbase. The move suggests growing demand for ways to unlock liquidity from staked as ...

Core Insights - Coinbase has launched a lending product that offers returns of up to 10.8% on USDC deposits, with a temporary boost from DeFi lender Morpho [1][2] - Approximately 6% of the product's returns are derived from Morpho's platform, while an additional 5% is enhanced by the protocol itself [1] - The lending product's competitive yields have raised questions among users, reflecting the lingering concerns from the crypto lending contagion of 2022 [3][4] Product Details - The lending product's advertised return is significantly lower than the 20% returns previously offered by Anchor Protocol before its collapse in 2022 [4] - Morpho operates on Ethereum and Coinbase's layer-2 network Base, allowing users to create customizable markets for overcollateralized loans [6] - Steakhouse Financial is responsible for curating the vaults where users deposit funds, managing risk, and allocating USDC to various markets [6] Performance Metrics - The only vault associated with Steakhouse on Morpho's Base had $24 million in USDC deposits, offering an annual percentage yield of 5.87% and a 25% performance fee [7] - Over 98% of the vault's funds were allocated to lending markets for wrapped Bitcoin and Ethereum, including Coinbase's cbBTC and cbETH products [7]

Overview - Coinbase Wrapped Assets 将 Coinbase 的安全性和信任引入流动性质押市场 [1] - Coinbase Wrapped Assets 可在 Aave 或 MoonwellDeFi 上进行借贷，并在 PancakeSwap 上进行交易 [1] Assets - 支持在 Base 网络上交易 Coinbase Wrapped Assets，包括 cbBTC, cbDOGE, cbXRP, cbLTC, cbADA, cbETH [1] Benefits - 交易速度快，成本低廉 [1] - Coinbase 提供托管服务 [1] - 具有跨 DeFi 的可组合性 [1]