That’s ok I guess as long as everyone doesn’t ask for proof of reserves ;-)
Pretty daft of Blackrock this wasn’t a stipulation of using them as custodians from the get go.
Discussion
It was always going to happen. It’s a Rugpull in waiting, maybe this cycle’s FTX
I don’t see this happening.
Coinbase will die. But it will die via shitcoin.
Their BTC business will either be acquired or it will be killed over time via attrition. Institutions will play with them until they just step on them.
