Cory dismissed my post before, calling me "not a customer." ...I was a prospective customer of Prime Trust and had good reason for turning them down!
#189598
Anyway, now it seems likely Prime Trust was rehypothecating and David Bailey has tweeted that there is a 3 month rehypothecation period, which Swan will fall into. I expect if these clawbacks happen, Swan will go bankrupt.
https://twitter.com/DavidFBailey/status/1671876348007022595
Also, how did Swan do their emergency transfer to fortress unilaterally if it was supposed to be a trust with a firewall preventing movement of funds clients do not authorize? š§ Violates qualified custodian laws??
I think Strike has a better chance of surviving due to their more diversified operations and much higher valuation (I don't think anyone would fund reviving Swan).
GTFO NOW IF YOU STILL HAVE FUNDS LEFT ON SWAN... if Swan is honest, they should love this post since they claim they want people to self-custody. Though even if you do, you might still get sued for your bitcoin by shitcoiners and they might win if it was within 90 days.
I have been criticizing Swan for a long time and talking shit about them since they fucked over their customers with a trivial-to-avoid fuck up that screwed customers out of up to 10% of their funds over a several day period.
https://bitcoinmagazine.com/markets/ftx-collapse-cause-huge-bitcoin-price-spike