According to an analysis by CryptoSlate of records from November 7 at 10:30:51 UTC to November 13 at 13:00 UTC, the cbXRP lending and borrowing market on Base recorded 883 liquidation logs, involving the transfer of approximately 4.18 million cbXRP in collateral and the repayment of 4.016 million USDC in debt; the same borrower could appear multiple times. Subsequent snapshots on November 13 still showed approximately 53.53 million USDC in outstanding borrowings, which does not mean that all have reached liquidation conditions. The selected liquidation records all reported zero bad debt, but this does not imply that borrowers suffered no economic losses; these Base records also do not prove that subsequent sales of native XRP took place.