Swan switched from Prime Trust to Fortress Trust.
Fortress Trust is being acquired by Ripple (not finalized yet though).
Ripple may soon we’ll be in charge of #bitcoin custody for nostr:npub1tftc33ttam85wraffce62cgtvvjrmttquqlv6a0agtfm5nl4vues82xar5
nostr:npub10uthwp4ddc9w5adfuv69m8la4enkwma07fymuetmt93htcww6wgs55xdlq has covered it well.
Why are people angry at Swan?
I think because nostr:npub18p63njhaxftx3m8luk2h0umj8p3cmfx09kv9hqhext7gr5ea585qsc0k8k has been so vocal against “scams” and alt-coins so much that it seems hypocritical in a sense.
Especially because they are so silent about it and seeming to distract with other “big announcements” instead.
I take away from it that #bitcoin companies will be quickly separated via time preferences.
nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en talked at the #lightningsummit about how long it took them to build their own in-house custody solution both engineering and compliance.
Those types of business won’t have to worry as much. But then I hear others say no business should try to sell and store #bitcoin because long term the goals of each will pull in opposite directions.
I think that’s a little of what’s playing out now.
They are!! And I just wanted not to be close when it went bad.. I shouldn’t even say because I don’t know exactly I don’t think anyone does.. probably one reason
Isn’t the #bitcoin custodied at Bitgo and the #dollars custodied at Fortress? Not ideal either way. Would be worse if they didn’t constantly advocate for people to self-custody.
Further but not current customer here.
Agreed. Hopefully those buying #bitcoin self-custody asap but more importantly start buying in a non-KYC fashion.
Better privacy and rug protection.
