Nothing devious. It does sound a bit spun though. For a company that so vividly documents the failure of others, a lonely appeal to precedents feels lacking.

When you have ten seconds to maintain a customer's trust, it makes sense. A lot of their business is on the line.

> It's an explanation.

Haha, I sense you're not on board with it.  Do you have something else in mind?

elvismercury

As does Strike and that's just among Bitcoin-onlys.

I guess the issue is that they want to be super duper conservative and operate as if btc is a traditional asset subject to those rules?

It's an explanation. Having customer funds migrate regularly doesn't seem very conservative, but its not like they chose that. It is conservative from a regulatory perspective though.

From the article it sounds like trust just handles funds in transit. Sounds like a tough biz.

bitcoin

Bitcoin-only Exchange Swan Pledges To Launch New Custodian With Bitgo

BitcoinIsTheFuture

> Since River does this now

As does Strike and that's just among Bitcoin-onlys.

> I guess the issue is that they want to be super duper conservative and operate as if btc is a traditional asset subject to those rules?

It's an explanation. Having customer funds migrate regularly doesn't seem very conservative, but its not like they chose that. It is conservative from a regulatory perspective though.

From the article it sounds like trust just handles funds in transit. Sounds like a tough biz.