[Coinbase One Card Unapproved Users May Receive a Deposit Card, USDC Deposits Cannot Be Traded, Withdrawn, Lent, or Transferred] Odaily Planet Daily News: Coinbase posted on the X platform stating that the Coinbase One Card requires eligibility and approval; users who are not approved may be offered a Coinbase One Card requiring a USDC security deposit. The USDC in the security deposit cannot be traded, withdrawn, lent, or transferred. If the account defaults or is closed for any reason, the deposit will be used to offset any outstanding balance. Once the account is closed and there are no debts, the USDC will be released. The Bitcoin cashback rate is based on the cardholder's assets on Coinbase, and not all transactions qualify as eligible spending.