Jesse Powell

@jespow ↗

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Last Checked April 3, 2023

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Wed Jan 18 00:31:11 +0000 2023

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Jesse Powell @jespow

@_DavidSFreeman I get the multisig setups, though it's not truly "cold". I could see that working for very low frequency traders. If you're trading very frequently, the fees to keep settling on-chain from the multisig wallet could be painful. — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@CryptoLira I was wondering about the "cold custody" products at another exchange which claims to somehow both keep your coins in cold storage, (presumably) not exposed to hacks/insolvency, yet also allow you to trade with those coins on the exchange at the same time. — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@CryptoLira Right, which, unless the exchange has a massive balance sheet to extend these loans itself, it is essentially borrowing funds from other clients to facilitate this credit. Which means, everyone not using the "custody" product will be that much more screwed in an insolvency. — PolitiTweet.org

Posted Jan. 18, 2023