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There's a pretty rich history of exchanges suffering "hacks" or other losses and giving all of their customers a haircut on assets to make themselves whole. Coi
by ac29 5y ago
There's a pretty rich history of exchanges suffering "hacks" or other losses and giving all of their customers a haircut on assets to make themselves whole. Coinbase is a little less sketchy than offshore, unregulated exchanges, but if they are holding a large amount of Tether when it goes bust, I wouldnt assume any balances held on Coinbase are necessarily safe.
- gruez 5y ago>but if they are holding a large amount of Tether when it goes bust, I wouldnt assume any balances held on Coinbase are necessarily safe. That's only an issue if they blend USDT and USD balances together, which to my knowledge they don't. If you sold a bunch of your bitcoins for USDT rather than USD (which seems unlikely, seeing that BTC-USD has 28x the volume of BTC-USDT), and USDT goes bankrupt, that's on you.