Jesse Powell

@jespow ↗

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Last Checked April 3, 2023

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Wed Jan 18 03:38:59 +0000 2023

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Jesse Powell @jespow

@sergitosergito @tomlombardi Ya, but it's credits of real tokens that can be withdrawn so unless it's ok for the exchange to be insolvent, it needs to maintain a 1:1 assets:liabilities, which means actual tokens being borrowed from somewhere. If loan not forgiven in BK then no benefit to custody product. — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@sergitosergito @tomlombardi So it's ~4h collateralized loans. Still unclear where the tokens for the loans are coming from and what happens to the debt and collateral in an insolvency + bankruptcy scenario. Does the setup actually achieve any protection for the user of the custody product? — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@sergitosergito @tomlombardi if it's only for trading Futures, it makes more sense. If it's for trading spot, the coins have to come from somewhere. — PolitiTweet.org

Posted Jan. 18, 2023