healthy that people are concerned about paper bitcoin games by etfs, mstr, and coinbase

unlikely they are running fractional reserve but any that do will get rekt eventually as more coin is stacked to self custody - this is what happened to ftx, blockfi, and celsius

ideally more of the industry moves to proof of reserves - this will happen over time due to competition - bitwise, metaplanet, el salvador, and tether already publish addresses - more will in time with free market competitive pressure