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Good question, I can see why you are confused. Coinbase right now acts in two ways. 1) as an exchange who allows you to trade on it. 2) as a prime broker who
by chollida1 9y ago
Good question, I can see why you are confused.
Coinbase right now acts in two ways.
1) as an exchange who allows you to trade on it.
2) as a prime broker who holds your coins. In this capacity they are just like Goldman Sachs who can function as a prime broker for hedge funds.
(a prime broker is like a bank who holds your securities for you). So in this case Goldman is relevant as they do the same function that coinbase does with respect to holding securities on behalf of a client.
Does that help clear up the confusion?
- babuskov 9y ago> Does that help clear up the confusion? No, it adds. > So in this case Goldman is relevant as they do the same function that coinbase does with respect to holding securities on behalf of a client. Then why did you write in your other message that Goldman Sachs has got nothing to do with this discussion? It seems to me that you are confused. Please decide whether you think the Goldman Sachs is relevant or not before proceeding.
- dmoy 9y agoWhich other message? Now I'm confused. I saw gp say that a hedge fund failing or something has nothing to do with the discussion, but not that GS has nothing to do with the discussion.