BlackRock has amended their Bitcoin ETF agreement with Coinbase to require Coinbase to allow withdrawals within 12 hours. This amendment helps BlackRock improve liquidity and helps verify that Coinbase actually has used BlackRock funds to purchase bitcoin.
If only there was another easy way to do this... You know, such as publishing a publicly verifiable bitcoin address!
We had the concept of provable reserves for years. Kraken uses it.
i believe only one ETF does this. - Bitwise.
Now there’s a novel idea 💡
Theres a simple reason they wont (or cant) provide proof of reserves.
Even if they do have 1:1 btc, They want the option to manipulate the price. This is assuming they’re not already doing that.
Dont get FTX’d folks.
#Selfcustody
In normie world they:
Don’t verify, trust 😂
