You are totally right in each step, but there's 1 thing that makes it different from most exchanges: you can already transfer money in/out of it using LN, which

You are totally right in each step, but there's 1 thing that makes it different from most exchanges: you can already transfer money in/out of it using LN, which makes it much more practical than using a Coinbase exchange account. Also, while Coinbase Pro has a 0.1-0.3% fee for market order, if you want guaranteed execution, Coinbase and its competitors take 3-4%. If you listened to talks from Jack Mallers, he was tracking lnd head instead of waiting for the full releases, and picking and testing pull requests by hand, fixing bugs that come up in practice (or giving feedback to lightning devs), that's one of Strike's advantages over other exchanges. Also the ,,less regulation'' is just not true generally, people have to go through KYC to link with bank accounts, they are communicating with regulators: https://jimmymow.medium.com/announcing-strike-public-beta-325877a79f87 https://jimmymow.medium.com/announcing-strike-public-beta-32...