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Binance does the same, as do Bitfinex and Tether and pretty much the entire cryptocurrency ecosystem.
by grey-area 4y ago
Binance does the same, as do Bitfinex and Tether and pretty much the entire cryptocurrency ecosystem.
- sbierwagen 4y agoCoindesk says they don't. There's a pretty solid 90% chance that every exchange with a stablecoin is going to blow up, but I'd only guess a 30% chance of Coindesk going under.
- grey-area 4y agoYes I agree from what I’ve seen they are the most stable, though it’s hard to know what is going on under the hood and the ceo is an unsavoury character who I wouldn’t trust with my money.
- captn3m0 4y agoCoinbase has a Altman Z-score of 0.16. This implies bankruptcy possibility in the next two years.
- smsm42 4y agoThat's a broad claim that would look much better supported by some proof.
- grey-area 4y agoLook up the balance sheets of Tether, Bitfinex and Binance. Their reserves are held in various dodgy instruments and they don't want you to know what those are ('commercial paper', point in time attestations instead of audits etc), instead they come up with fanciful schemes like this to distract from the essential facts of where the money resides: https://fortune.com/crypto/2022/11/14/binance-promised-transparency-proof-of-reserves-crypto-ftx/ https://fortune.com/crypto/2022/11/14/binance-promised-trans...