[Coinbase Allows U.S. Users to Borrow Up to $1 Million USDC Using cbETH as Collateral] According to CoinDesk, Coinbase has launched a new lending feature for eligible users in the U.S. (excluding New York State), allowing them to use their staked Ethereum tokenized certificate, cbETH, as collateral to borrow up to $1 million in USDC. This enables investors to raise funds without selling or unstaking their ETH. The feature is supported by the on-chain lending protocol Morpho, offering over-collateralized variable-rate loans with no fixed repayment terms. The borrowed USDC can be converted into U.S. dollars on the platform. This move aims to expand the utility of staked Ethereum, allowing users to gain liquidity while maintaining ETH price exposure and staking rewards. Users must keep the loan-to-value ratio below 86% to avoid automatic liquidation during significant market fluctuations.