As far as I understand #Coinbase reserves are audited quarterly. This leaves a lot of room for the commingling of #MSTR and #IBIT #bitcoin holdings with Coinbase users’ funds which could allow some degree of market manipulation. I would be happy to be shown that this type of manipulation isn’t possible but until proven otherwise, we have to consider this as a real possibility.

All speculations could be cleared by demonstrating proof of reserve and the rational provided by #Saylor to justify not doing so are weak at best.

nostr:note1w4add0nzw622w00wuskh4r95pldeugr2uc7qesvlyxh79mna3u8srk3lqj