Golden Finance reported that Coinbase has filed a friendly statement on Prime Trust's ongoing bankruptcy case, urging the court to support legal protections of client assets held by the trustee. Coinbase Chief Legal Officer Paul Grewal released the document, stressing that client assets should not be included in the custodian’s bankruptcy proceedings. The company advocates the implementation of Article 8 of the Uniform Commercial Code (UCC), which ensures that the assets held by the custodian belong to the client, not the custodian himself. Coinbase argues that both its user agreement and Prime Trust’s user agreement explicitly state that the assets remain customer’s property. Bankruptcy should not change these agreements or reclassify assets as part of the custodian’s property. Legal documents will prevent client funds from being included in Prime Trust’s bankrupt property. Coinbase insists that maintaining UCC Article 8 is essential to maintaining trust in custodians, both in digital and traditional finance. Among other legal developments, the Operation Chokepoint 2.0 hearing has attracted the attention of the industry as a whole. Paul Grewal will testify with other key figures to refute unfair banking restrictions on cryptocurrencies.