Replying to Avatar Bangarangg

What happens to pleb funds using Strike bill pay product, or keeping SATs on strike, when/if your partners blow up due to rehypothecation (see pic)? I'm moving to River until Strike has proof of reserves and a strong firewall. I saw enough of this nonsense last cycle with FTX/Blockfi/Celsius/etc.
Avatar
jack mallers 8mo ago 💬 1

bitcoin on our platform has nothing to do with the lending product.

we are working on proof of reserves lending, we will get here.

by the way, this is my response to that screenshot in case it's helpful. happy to answer any other questions

Reply to this note

Please Login to reply.

Discussion

Avatar
Bangarangg 7mo ago 💬 1

Thanks for the info. I've really enjoyed using Strike over the years. I'll look forward to coming back when you have the proof of reserve system in place.

Avatar
jack mallers 7mo ago 💬 1

proof of reserves for our lending product you mean?

there is no rehypothecation but i hear you. we will have proof of reserves lending towards the end of the month, at least some variation

Avatar
Bangarangg 7mo ago

Nice, thanks! I've been really enjoying Bill Pay by the way - great product