---
id: "entity-coinbase-d8"
type: "entity"
entityType: "organization"
canonicalName: "Coinbase"
aliases: ["\"Coinbase Global", "Inc.\""]
source_timestamps: ["00:30:00"]
tags: ["cryptocurrency-exchange", "custodian"]
related: ["claim-capital-controls-coming", "concept-paper-bitcoin", "action-self-custody"]
sources: ["wallstlie"]
sourceVaultSlug: "10x-darkside-bitcoin-systemic-collapse-2026Jun25"
originDay: 8
---
# Coinbase

## Profile

Coinbase Global, Inc. is one of the largest U.S. cryptocurrency exchanges and custodians, publicly listed on NASDAQ. It offers retail and institutional trading and custody services under U.S. regulatory oversight.

## Role in This Vault

[[entity-scott-darkside]] cites Coinbase as the **canonical choke point** where Western governments will impose [[claim-capital-controls-coming]] during a future crisis. Balances held at Coinbase are characterized as [[concept-paper-bitcoin]] — IOUs, not actual on-chain Bitcoin under user control.

## Why It Matters

Coinbase is the embodiment of the trade-off Scott highlights: regulated convenience and compliance vs. direct [[concept-self-custody]] and bearer-asset sovereignty. Scott's recommended action — [[action-self-custody]] — is essentially a directive to withdraw funds from Coinbase (and similar venues) immediately.

## Counter-Perspective Note

Coinbase's public filings state customer assets are held 1:1 as a regulatory requirement and that customer Bitcoin is not lent without consent. This contradicts Scott's stronger fractional-reserve insinuations for regulated venues.