CoinBase’s latest filing with SEC says “In the event of a bankruptcy, our customers could be treated as our general unsecured creditors.”
In other words, when they eventually go bankrupt, they will use YOUR crypto to bail themselves out.
https://nitter.libresolutions.network/CryptoWhale/status/1524184693561872384
@LibreSolutionsNetwork Say it with me, everyone:
NOT YOUR KEYS?
NOT YOUR COINS!
CoinBase will eventually fall. It’s important to own your own wallets and also own your own cash too, just in case crypto fails.
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@LibreSolutionsNetwork
Yeah? Did anyone actually think otherwise? Guess they never read the fine print.
I don't play in crypto but the few hodlr's I know are smart enough to pull their coins off the exchange unless they wanted to actually wanted to sell them.
The whole theory of crypto was that you could keep your own coins in private wallets. You might want to do that.