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Daylight robbery being made legal. So they don't have any liabilities in their books.
by ejanus 4y ago
Daylight robbery being made legal. So they don't have any liabilities in their books.
- Analemma_ 4y agoThis is getting it backwards. "When a bank or other institution holding money on your behalf fails, your money is gone" is and always has been the default expectation throughout history. Deposit insurance specifically overrides that, but since it doesn't exist for crypto institutions, you are back to the default position. This really shouldn't be coming as a surprise.