Search results for cbETH
Crypto
Coinbase lists pound-pegged stablecoin tGBP, expands UK push
Coinbase has listed tGBP, a pound-pegged stablecoin issued under the UK Financial Conduct Authority framework, on its global platform. The token is issued by BCP Technologies and is backed by cash and short-term UK government bonds, redeemable 1 to 1 for pounds. Coinbase opposed requiring systemically important issuers to hold 40 percent of reserves as non-interest-bearing central bank cash and criticised issuance caps.
Crypto
Coinbase expands UK lending offering, crypto-backed up to $5 million
Coinbase is launching a USDC loan service for UK investors using cryptocurrencies as collateral. UK users can deposit bitcoin, ether or Coinbase Wrapped Staked ETH as collateral and borrow USDC through the Morpho lending protocol on the Base platform. Loans can be worth up to $5 million in USDC when backed by bitcoin, with variable interest rates and no fixed repayment schedule. Loans may be liquidated if loan-to-value thresholds are breached.
Crypto
Moonwell DeFi protocol hit by $1.7 million hack after AI smart contract bug
Moonwell, a decentralised finance lending protocol, suffered a $1.7 million hacking loss due to an AI-based smart contract error, Cointelegraph reported on Feb. 18. Moonwell had expected AI-assisted smart contracts to strengthen security, but AI-generated code created a vulnerability that led to the attack. Cointelegraph said a cbETH price oracle output $1.12 instead of $2,200, which attackers exploited. CEO Parker Smith warned AI can speed coding but increase risk without stronger security checks.