it is the difference between legal terms and reality

loan collateral is being held securely by strike and liquidity partners, not being used to trade or “generate yield,” but needs to be moved around occasionally for business operations

strike is full reserve with strong bitcoin security practices and is well capitalized with over 1500 bitcoin in their corporate treasury

they will release proper proof of reserves in the next few months

even after that, all custodial products require trust

90% of bitcoin bought on strike is withdrawn to self custody, free dca, free withdrawals