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What’s up with Swan? Everything I read says they got their corn off of Prime Trust well before it failed.

Prime’s creditors might have legal rights to any assets withdrawn from Prime accounts over the last 90 days. Impossible to know how it will play out, but I’m assuming everything I withdrew from Strike and Swan over the last 90 days could be gone.

I hope Strike was only using them for direct deposit and things I didn’t use during the last 90 days, but who knows. Swan sent their “we’re moving everything” email on May 26th.

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Discussion

Bud 2y ago

I’m hoping the best for you. I thought the risk to custody companies was from hackers, not incompetence at the one job they have.

Bourbonic Plague 2y ago

Thanks, it is what it is. It represents a pretty small portion of my stack, so it isn’t too big a deal for me.

But it is a new wrinkle. You don’t expect to have to worry about bitcoin that has been in cold storage for months, but the fiat system always has new and surprising ways to rug you.