Yes you are right. Of course that 2nd risk is there even with any other company. It's just the principal agent problem. I don't know if options will be suppo

Yes you are right. Of course that 2nd risk is there even with any other company. It's just the principal agent problem. I don't know if options will be supported, but once they are, you could hedge the second counterparty risk with far out of the money put options. This is not it, but you could theoretically have bitcoin futures that are cash settled only. Then you don't have the second counterparty risk at all.