Do people realise that Coinbase holds all the ETFs BTC and can get "hacked" and FedNow which already is in operation basically constitutes a CBDC in many ways? Trump and Bitcoin.
#plebchain #coffeechain #trump
Discussion
Not entirely accurate, because Fidelity and a couple other ETFs don’t use Coinbase custody, perhaps Grayscale and Bitwise. The rest, yeah. It makes sense to buy a few to spread custody risk. Wall Street has the the feds by the balls so I doubt there’s as much of a risk for now compared to self custody risk. You do you, though.
As for Trump, lol. He’s only about applause lines. If he can get more applause five minutes later by saying the opposite, he does.
Ah true not all ETFs just most by institutions and BTC under management I would venture.
I looked it up and it’s actually Fidelity that has its own custody and Van Eck uses Gemini. The rest, Coinbase. So that’s a risk one might address by custody diversification across the three.
Yeah I hadn't really thought of that buying across all 3. Could also self custody but that kinda defeats the purpose of an ETF for those buyers I suppose.