Also if the “attack vector” is making only custodial Btc legal wouldn’t they want to prove it works well?
I stick to the simple heuristic: not your keys, not your coins. Coinbase's keys, Coinbase's coins.
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For sure, but even so.. this doesn’t tell us how they plan to attack with the 3M or so coins in institutional hands
I imagine the best way to get coins is to buy the entities that hold the coins