It's KYC, you have to trust them with the keys to the coins. You have to assume they don't rehypothecate the assets. You have to assume they hold reserves. You have to assume they will give you the coins when you ask for them.
Does it sound familiar? Is it ringing a bell? It better be.
And if you think laws will help here ("but Fidelity is regulated"), just look at SBF, watch him laugh at us while walking around a free man, doing interviews after what he did.
Submitted December 03, 2022 at 02:26PM by 100_Jose_Maria_001 https://bit.ly/3gT3VAn
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