8 ms·
Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in c
by iseeyou 4y ago
Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors
https://finance.yahoo.com/news/coinbase-warns-customers-could-lose-103534095.html https://finance.yahoo.com/news/coinbase-warns-customers-coul...
- RC_ITR 4y ago>may There’s no precedent. Disclosures are always worst case scenarios And again, will anyone please read their fucking balance sheet? Liabilities of $105bn, $101bn which are deposit liabilities vs. $101bn of customer assets. Even in a worst case scenario depositors get a <4% haircut. THIS IS VERY DIFFERENT FROM WHAT FTX DID