This analysis describes what Coinbase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision allocates market risk to the user rather than the platform operator. It establishes that Coinbase's liability does not extend to losses from cryptocurrency price movements, which are inherent to the asset class.
The updated terms establish a new arrangement for USDC designated as 'Secured USDC' in connection with the Coinbase One Card. Under the revised language, if you designate USDC in your wallet as Secured USDC, you agree that Coinbase may transfer that amount to a third party designated as the secured party, and you will be restricted from withdrawing or transferring those funds. Additionally, the secured party's instructions to Coinbase regarding those assets take priority over any conflicting instructions you provide. The agreement states that you consent to all such permitted transfers. This arrangement operates independently of amounts owed to Coinbase, meaning Secured USDC will not be debited to satisfy debts you owe to Coinbase.
View change record →The updated terms eliminate language that previously allowed Coinbase to restrict your withdrawals if you designated USDC as Secured USDC and to comply with third-party secured party instructions without your consent. Under the revised agreement, Coinbase will not transfer, loan, or otherwise handle your Supported Digital Assets except as required by law or as you instruct. This means the One Card Secured USDC mechanism is no longer integrated into the core asset protection clause, and users no longer face withdrawal restrictions or loss of instruction authority tied to that designation. If you currently hold Secured USDC under a separate One Card cardholder agreement, that agreement remains in effect but is no longer cross-referenced in the main User Agreement's asset protection section.
View change record →The updated terms establish a new exception to the prior prohibition on transferring user digital assets. Previously, Coinbase stated it would not transfer assets except as required by law or per user instruction. The revised language now permits Coinbase to transfer USDC designated as 'Secured USDC' to third parties pursuant to a Coinbase One Card cardholder agreement. Users who elect to use this feature agree they will be restricted from withdrawing or transferring the secured portion, and they consent to Coinbase following instructions from a designated secured party without further user approval, even if those instructions conflict with the user's own orders to Coinbase. The full terms of this arrangement are stated to be in Appendix 4, which is not included in this summary.
View change record →Users operate under terms that make them responsible for losses from cryptocurrency price fluctuations. Coinbase is not obligated to compensate users for value declines in Digital Currency holdings or trades executed on the platform.
Cross-platform context
See how other platforms handle User Assumption of Cryptocurrency Market and Platform Risk and similar clauses.
Compare across platforms →Monitoring
Coinbase has changed this document before.
Receive same-day alerts, structured change summaries, and monitoring for up to 10 platforms.
"You acknowledge that the risk of loss in trading or holding Digital Currency can be substantial. The value of Digital Currency can go up or down, and there can be a substantial risk that you lose money buying, selling, holding, or investing in Digital Currency. You should carefully consider whether trading or holding Digital Currency is suitable for you in light of your financial condition. Coinbase is not responsible for any losses you incur as a result of fluctuations in the value of Digital Currency.— Excerpt from Coinbase's Coinbase User Agreement
Professional Governance Intelligence
Need to monitor specific governance provisions?
Professional includes provision-level monitoring, governance timelines, regulatory mapping, and audit-ready analysis.
Built from archived source documents, structured governance mappings, and historical version tracking.
This provision allocates market risk to the user rather than the platform operator. It establishes that Coinbase's liability does not extend to losses from cryptocurrency price movements, which are inherent to the asset class.
Users operate under terms that make them responsible for losses from cryptocurrency price fluctuations. Coinbase is not obligated to compensate users for value declines in Digital Currency holdings or trades executed on the platform.
No. ConductAtlas is an independent monitoring service. We are not affiliated with, endorsed by, or sponsored by Coinbase.