Aw come on Preston, it’s a free market (or at least should be). Rehypothecation of bitcoin is inevitable. Best we can do is educate people and push them towards self-custody or at least companies that show proof of reserves.
An article I wrote on why Bitcoin rehypothecation should be illegal for TBTF banks now that SAB 121 was rescinded. And yes, I know, Bitcoin doesn't need laws. But I also know that all your grandmas will probably have exposure to Bitcoin through an ETF. So this is for all your grandmas.
https://egodeath.capital/blog/too-big-to-fail-banks-amp-bitcoin-custody
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