Coinbase Launches Borrowing Up to $1M Against Staked Ether

Watch on YouTube ↗  |  January 23, 2026 at 17:19  |  2:01  |  CoinDesk
Speakers
Jennifer Sanasie — Senior Anchor & Executive Producer, CoinDesk

Summary

CoinDesk Daily covers Coinbase's new borrowing feature that lets eligible U.S. users borrow up to $1 million in USDC against cbETH without unstaking, with an 86% loan-to-value liquidation threshold. The show also reports Caroline Ellison's release from prison and updates on the crypto IPO market, including Ledger's reported listing plans and BitGo's public debut.

  • Coinbase launched a cbETH-backed borrowing product powered by Morpho for eligible U.S. customers.
  • The feature allows up to $1M in USDC loans without unstaking, aiming for greater capital efficiency.
  • Users must keep loan-to-value below 86% to avoid automatic liquidation.
  • Caroline Ellison was released from federal prison and moved to a halfway house.
  • Ledger is reportedly planning a New York IPO targeting a valuation above $4 billion.
  • BitGo priced its IPO at $18 per share, valuing the custody firm at roughly $2 billion.
  • BitGo's business model emphasizes custody revenue over trading fees.
Ideas
Jennifer Sanasie Senior Anchor & Executive Producer, CoinDesk 0:14
Coinbase unlocks cbETH liquidity for stakers.
Coinbase launched a feature allowing eligible U.S. customers to borrow up to $1 million in USDC against their cbETH without unstaking, powered by the Morpho protocol. The move unlocks liquidity for stakers, offers flexible repayment schedules, requires a loan-to-value ratio below 86% to avoid automatic liquidation, and is part of a broader push to make crypto holdings more capital efficient while keeping exposure to ETH price movements. This is a product-led setup to monitor for Coinbase and staked ETH liquidity.
COIN CBETH MED
Jennifer Sanasie Senior Anchor & Executive Producer, CoinDesk 1:39
BitGo IPO leans on custody revenue.
The crypto IPO market is heating up in 2026, with BitGo's public debut as the first crypto IPO of 2026 priced at $18 per share, valuing the custody firm at roughly $2 billion. BitGo's model leans on custody revenue rather than volatile trading fees, making it a crypto-infrastructure name to watch as more crypto firms pursue listings.
BitGo MED
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This CoinDesk video, published January 23, 2026, features Jennifer Sanasie discussing COIN, CBETH, BitGo. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jennifer Sanasie  · Tickers: COIN, CBETH, BitGo