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I wonder if they're able to separate their cryptocurrency risk from the rest of their brokerage. I figure I'm insured to the $500k limit by their SIPC/FINRA in
by ipsin 9y ago
I wonder if they're able to separate their cryptocurrency risk from the rest of their brokerage. I figure I'm insured to the $500k limit by their SIPC/FINRA insurance, but it'd be annoying if they lost millions of dollars of tokens and went out of business because of it.
Or are they somehow insured against that risk? I'd find that hard to believe.
- RandomInteger4 9y agoLooks like, at the moment, they don't support deposits or withdrawals of the cryptocurrency you're trading, so if anything, they seem more like ETNs of the cryptos than the actual cryptos themselves? I imagine it's for the reason you stated until they get the security protocols in order. Not sure how they're getting around SEC approval, unless it's something sort of like an IOU loophole where you can only sell the IOU, but not redeem it for the coins yet per their terms of service? I have no clue.