Swan needs a new custodian \ stacker news ~bitcoin

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:

https://i.imgur.com/c2xKoUx.png https://pbs.twimg.com/media/FzphLj4WIBAni6U?format=png&name=900x900

Shoutout to Magoo for this timeline

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138 sats \ 2 replies \ @franzap 27 Jun 2023

He/Him

1 sat \ 0 replies \ @orthwyrm 28 Jun 2023

lol

he / him web3

0 sats \ 0 replies \ @_stacktoshi 27 Jun 2023

Bad/Custodian

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?

33 sats \ 3 replies \ @BITC0IN 27 Jun 2023

swan AND strike need to be non custodial

37 sats \ 2 replies \ @sudonaka 28 Jun 2023

strike is their own custodian now. swan kept going with this scammer

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

0 sats \ 0 replies \ @sudonaka 28 Jun 2023

The free and open market will determine what’s best.

“Forced”? - ok socialist.

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.

https://i.imgur.com/hoFmIRZ.png

Do you agree with his claim that brokers need to move to multisig?

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

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.

10 sats \ 1 reply \ @birdeye21 OP 29 Jun 2023

Strike River and Cashapp are all good options, they hold BTC in house

0 sats \ 0 replies \ @doubleplusgood23 30 Jun 2023

Cash app can DCA? I had played around with their lightning implementation a bit.

0 sats \ 0 replies \ @YuckFou 28 Jun 2023

Not your keys, not your coin. Get your bitcoin off all custodial services.