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News that SHIB makes up nearly 20% of their asset reserves[1] Big asset movements between Crypto.com and Gate just in time for a proof of reserves disclosure[2

• mywaifuismeta 4y ago
  Maybe I'm missing something but is it a problem if SHIB is 20% of their reserves if 20% of what users are keeping on the exchange is SHIB? Of course we don't want what people actually deposited since it's a centralized exchange with no transparency. But by itself this isn't really a red flag...
  • krono 4y ago
    Yes, it's yet another potentially destabilising factor you can add to the pile though.
    • runeks 4y ago
      How is it destabilizing? If 20% of depositor funds are SHIB then 20% of reserves should be SHIB.
      • blitzar 4y ago
        As far as I am concerned, if they have 90% of their reserves in literal dog shit that is fine IF their liabilities are also in dog shit. I wouldnt pay $10,000 a turd, but that is my value judgement, if someone else does then their problem.
      • krono 4y ago
        > How is it destabilizing? Potentially destabilising is what I said. In a similar fashion to how 20% of my diet consisting of Taco Bell would carry a greater destabilising potential than a the same share of FDA recommended diet conforming home-cooked meals would. > If 20% of depositor funds are SHIB then 20% of reserves should be SHIB. You're the one bringing this up, not me. Not refuting it though.
  • throwaway53277 4y ago
    They have 300x more SHIB than DOGE[1]. Is that realistic reflection of their users preferences? [1]https://portfolio.nansen.ai/dashboard/crypto.com https://portfolio.nansen.ai/dashboard/crypto.com
    • rxyz 4y ago
      They were pushing SHIB hard in their marketing
    • irae 4y ago
      maybe a significant number of people created accounts for the SHIB trading when SHIB was not supported in slower to adopt exchanges?
• deleted 4y ago
  [deleted]
• searchableguy 4y ago
  They also deposited a significant money in FTX which they haven't clarified anything on yet.