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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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52361265 No.52361265 [Reply] [Original]

Smart anons, how would we track if coinbase was experiencing a similar bank run right now?

Is there a way to see or infer mass withdrawals?

>> No.52361525

>>52361265
You can't "bankrun" an exchange that has full liquidity and is intensely regulated by the US. It doesn't function like a bank. CB took a major revenue hit this year solely because they can't freely lend out client deposits like non-US exchanges. At most, CB bleeds money because crypto enthusiasm never recovers and they go bankrupt, returning all funds. Sure, they could commit fraud and keep them, but that'd be completely fucking insane for a US company. For an example of how air tight US regulation is, LedgerX, a US subsidiary of FTX that's doing business as usual, is not even included in FTX's Ch. 11 filing.

Your focus should be on every non-US CEX excluding Binance.

>> No.52361569

exchanges don't use links proof of reserve so that they can continue to use shady practices to make money from the goyim.

my bro had money on blockfi (awaiting transfer) but i talked him into moving all his funds off of coonbase as well.

fuck jews.

>> No.52361600

>>52361265
This isnt coinbases or binances first bear market. FTX on the other hand...

>> No.52361604

coinbase is and always has been the safest exchange to keep funds on

>> No.52361642

>>52361525
theres an argument to be made in favor of DEXs and also *some* crypto regulations as far as exchanges go.

of course, likely what will happen is fedcoin will kill most of crypto and there will be no financial or personal privacy anymore. I give it 10 years max.

>> No.52361740

>>52361525
>excluding binance
>trusting a chink after he posts a few warming tweets
CZ is an even bigger devil than SBF. he's just better at hiding and managing his house of cards. he's been propping up his BNB for months. wouldn't be surprised if SBF strikes back with dropping a an insider report on assets. coinbase still remains the safest option when it comes to cex.

>> No.52361789

>>52361569
Proof of reserves doesn't solve anything if you don't know how that number compares to customer deposits. We need proof of balance sheet.

>> No.52362572

>>52361789
"Protect DeFi applications from insolvency by auditing the reserves of tokens used as collateral, helping mitigate risk and protecting users from unexpected fractional reserve activity."

from the website.
however i don't disagree with you. i just think it's a very good step in the right direction.

>> No.52363224

>>52361265
CB will be fine

>> No.52365347

>>52361265
well they just sent me an email talking about how with the events going on they wanted to reassure me they are on the up and up. ofc this immediately made me think the opposite, kek