Jesse Powell

@jespow ↗

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Last Checked April 3, 2023

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Tue Jan 17 23:31:59 +0000 2023

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Jesse Powell @jespow

@cantfungthis Collateralized by what? — PolitiTweet.org

Posted Jan. 17, 2023

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Jesse Powell @jespow

Can someone ELI5 how an exchange could "mirror" coins you have in cold storage for trading? If it's via loans, who's funding the loans? Or, are the coins not actually cold? If the exchange blows up, are the balance losses only socialized among those not using the "cold" custody? — PolitiTweet.org

Posted Jan. 17, 2023

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Jesse Powell @jespow

@druidian In this case it's the exchange actually lending you the coins and if you don't release the coins to the exchange to pay your debt, the exchange pays it from the balance sheet (or other client funds and becomes insolvent)? — PolitiTweet.org

Posted Jan. 18, 2023