Coinbase Ireland Fined €3.25M Over Customer Fund Safeguarding
• Central Bank of Ireland fined Coinbase Ireland €3.25M (~$3.6M) on Oct. 22 over safeguarding and outsourcing failures
• Around the 2023 Silvergate collapse, funds of 30 customers sat in an account shared with another Coinbase entity's clients; coding errors left the safeguarding account 0.54% underfunded on average
• Coinbase says no customer lost money or access
This is the second Irish penalty after a €21.4M AML fine in 2025, a reminder that custody controls matter as much as product launches. Not financial advice, DYOR.
#Coinbase #Regulation
• Central Bank of Ireland fined Coinbase Ireland €3.25M (~$3.6M) on Oct. 22 over safeguarding and outsourcing failures
• Around the 2023 Silvergate collapse, funds of 30 customers sat in an account shared with another Coinbase entity's clients; coding errors left the safeguarding account 0.54% underfunded on average
• Coinbase says no customer lost money or access
This is the second Irish penalty after a €21.4M AML fine in 2025, a reminder that custody controls matter as much as product launches. Not financial advice, DYOR.
#Coinbase #Regulation