Overview
Coinbase is a US-based cryptocurrency exchange and the largest publicly traded crypto company in the United States. Coinbase Prime is its institutional trading and custody platform, typically used for converting crypto to fiat or OTC trading.
Key Facts
- Coinbase Prime was used as the fiat off-ramp for stablecoins borrowed by World Liberty Financial from Dolomite Trump’s World Liberty Financial uses five billion WLFI to borrow $75 million
Newsletter Relevance
Coinbase Prime functions as the bridge between DeFi extraction and traditional finance. Its role as the off-ramp in the WLFI operation shows how crypto-to-fiat conversion points are critical infrastructure in both legitimate and questionable transactions.
Connections
- World Liberty Financial — WLFI sent borrowed stablecoins to Coinbase Prime addresses
Source Appearances
- Trump’s World Liberty Financial uses five billion WLFI to borrow $75 million — fiat off-ramp for borrowed funds
Open Questions
- Does Coinbase conduct due diligence on large institutional deposits from DeFi protocols?