Replying to Avatar waxwing

Disagree, it's not enough. Just because there is enough to process the first 50% of withdrawals says nothing about whether the next 50% exists.
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McCoy 7mo ago

Sure, they then would "freeze withdrawls" during the run, which is the same as lying/faking their *proof of reserves* - ie hiding liabilities.

Leaving themselves open to withdrawls ungaurded - to me is a purer signal to the market that they could cover.

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waxwing 7mo ago

I mean, anything's better than nothing I guess! "We don't promise to honor withdrawals in less than 1 month" would be pretty bad. Some hedge funds do stuff like that.