Like any custodian, it's fine as long as they remain small, unlike coinbase.
Discussion
Fair point. Looking at it like cryptographic custody rather than actually holding an asset
Right. You should be able to compare liquid with fedimint. They are both locking your funds in a multisig.
That’s a very acceptable way to think about it. And it does seem clearly distinct from some random crypto with an alleged 1:1 peg. I’m not entirely sure why yet, but it’s like I can tell there’s a difference in my peripheral vision 🤔