[2014-08-28] Coinbase Publicly Announces It’s Holding Insurance Against Theft/Lo

[erono]

http://newsbtc.com/2014/08/27/coinbase-publicly-announces-holding-insurance-theftloss-bitcoins/

San Francisco-based Coinbase has published an interesting blog post on Wednesday, which essentially serves a means of comforting its users.

In short: the company announced that it holds insurance against both theft and loss of the bitcoin they hold — much of which belongs to its over one million users.

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[Chef Ramsay]

Glad to hear, they are the easiest way for Americans to get ahold of Bitcoin at the moment.

[aigeezer]

I find it ironic that the two posters so far have ads for gambling sites below their posts. In case you haven't heard, Coinbase has come under strong criticism recently for allegedly cancelling accounts of users (anywhere in the world) who might have used coins "tainted" by being used at a gambling site.

Their new press release describing insurance coverage which is many months old is just damage control after their recent bad press over the gambling issue, I speculate.

Regardless, be very wary if you use gambling sites and also use Coinbase: https://bitcointalk.org/index.php?topic=753606.msg8503380#msg8503380