Coinbase Rolls Out Etherium Deep Wallet – The Defender

Coinbase makes it easy for DeFi users to access Ethereum.

On May 16, the American Cryptocurrency Exchange shared a wallet that allows customers to access Ethereum-based DAPs in the Coinbase app.

Supported DeFi protocols include decentralized exchanges Uniswap and SushiSwap, Borrowing and Lending Platform Curve and Compound and NFT Marketplaces OpenSea and Coinbase NFT.

Coinbase is rolling out new features to a small group of US-based Android users. It did not specify if Coinbase would charge extra for using Daps.

Customers do not have to manage their personal keys. Instead, DAP Wallet’s private keys are split between users and Coinbase, which means Coinbase’s support agents can help clients recover them – but that Coinbase ultimately controls user funds.

Coinbase said in a recent filing that if the exchange went bankrupt, consumer funds would be considered part of its estate. It is unknown at this time what he will do after leaving the post. Coinbase did not respond to a request for comment.

In its May 10 filing, Coinbase reported a loss of $ 430M in the first quarter of this year. The company attributed the loss to a 43.5% drop in retail sales and an increase in its operating costs. Coinbase shares reportedly fell 16%, marking a 75% retreat this year.

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