Swan needs a new custodian
2296 sats \ 14 comments \ @birdeye21 27 Jun 2023 bitcoin
Swan either didn't know about PT/Fortress CEO's history or just didn't care.
Not great either way.
If they want to retain any relevance, they need to disassociate with Fortress immediately.
They really should be building out their own custodian infrastructure like their competitors.
The CEO's already wiped his Prime Trust role from his LinkedIn profile:
Shoutout to Magoo for this timeline
write
preview
related posts
138 sats \ 2 replies \ @franzap 27 Jun 2023
He/Him
reply
1 sat \ 0 replies \ @orthwyrm 28 Jun 2023
lol
he / him web3
reply
0 sats \ 0 replies \ @_stacktoshi 27 Jun 2023
Bad/Custodian
reply
10 sats \ 0 replies \ @Jonathan_Adly 28 Jun 2023
Maybe I am dumb, but is it really that hard to set a Linux machine with Bitcoin core and multisig? What’s complicated about having your own infrastructure?
What is the blocker?
reply
33 sats \ 3 replies \ @BITC0IN 27 Jun 2023
swan AND strike need to be non custodial
reply
37 sats \ 2 replies \ @sudonaka 28 Jun 2023
strike is their own custodian now. swan kept going with this scammer
reply
0 sats \ 1 reply \ @BITC0IN 28 Jun 2023
point is strike should not be holding anyone's funds for any duration. it should be forced self custody exchange only like bull bitcoin
reply
0 sats \ 0 replies \ @sudonaka 28 Jun 2023
The free and open market will determine what’s best.
“Forced”? - ok socialist.
reply
33 sats \ 1 reply \ @birdeye21 OP 27 Jun 2023
Cory claims that they have to use Fortress since it's the only qualified custodian option available.
Do you agree with his claim that brokers need to move to multisig?
reply
1 sat \ 0 replies \ @sudonaka 28 Jun 2023
Cory is full of sht and probably in on it
No third parties means I'm way more comfortable doing KYC business with River, Cashapp, and Strike who all now are their own custodians
reply
7 sats \ 2 replies \ @doubleplusgood23 28 Jun 2023
What do you guys recommend for DCA? Swan has been fine for me until the recent downtime.
reply
10 sats \ 1 reply \ @birdeye21 OP 29 Jun 2023
Strike River and Cashapp are all good options, they hold BTC in house
reply
0 sats \ 0 replies \ @doubleplusgood23 30 Jun 2023
Cash app can DCA? I had played around with their lightning implementation a bit.
reply
0 sats \ 0 replies \ @YuckFou 28 Jun 2023
Not your keys, not your coin. Get your bitcoin off all custodial services.
reply