Coinbase Ireland Fined €3.25 Million Over Customer-Fund Failures

Coinbase's Irish entity was fined €3.25 million by the Central Bank of Ireland over failures in safeguarding customer funds, with the shortfall reaching €5.2 million in 2024. The sanctions still require High Court confirmation before taking effect. For traders, the penalty reinforces regulatory scrutiny of exchange custody practices, a core trust issue for centralized platforms holding client assets.