Coinbase's Irish subsidiary fined €3.25 million over customer fund protection issues, claims no user funds were lost

Coinbase stated that its Irish entity, Coinbase Ireland, has reached a settlement with the Central Bank of Ireland after being fined €3.25 million (approximately $3.65 million) for violating client money protection and outsourcing management obligations between 2020 and 2025. The Central Bank of Ireland emphasized that payment and electronic money institutions have an obligation to adequately safeguard client funds and stated it maintains a zero-tolerance stance toward deficiencies in such protective mechanisms.