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This puts tremendous pressure on Coinbase to not rehypothecate.
What!?!?!?! They have been rehypothecating? WTF, they were supposed to be holding that for their clients. I am sure as hell glad that I like to self-custody my BTC.
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I don’t know if this will make them more hesitant or more eager to rehypothecate. i certainly hope that they didn’t do it in the first place.
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This is very good. This puts tremendous pressure on Coinbase to not rehypothecate.