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0 pointsadam_arthur3y ago0 comments

Why would you assume that when every other exchange is starting to prove that they don’t

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I'm trying to explain what people mean when they say that they are “backed by assets”. Whether they actually are is another matter.

adam_arthurOP3y ago

Customers deposits must be backed by cash, not assets. Because the second those assets lose value the deposits are no longer covered.

Any exchange that doesn’t publish their full balance sheet can be considered fraudulent at this point. Because it’s such an easy win for them if they do and everything’s kosher

j / k navigate · click thread line to collapse

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amadeuspagel3y ago

I'm trying to explain what people mean when they say that they are “backed by assets”. Whether they actually are is another matter.

adam_arthurOP3y ago

Customers deposits must be backed by cash, not assets. Because the second those assets lose value the deposits are no longer covered.

Any exchange that doesn’t publish their full balance sheet can be considered fraudulent at this point. Because it’s such an easy win for them if they do and everything’s kosher

j / k navigate · click thread line to collapse