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249 sats \ 3 replies \ @timechain 29 Sep 2022 \ on: Swan Acquires Specter, Maintainers of the Open Source Software and Hardware... bitcoin
My guess is they want to do a complete custody suite with selling you bitcoin, software for managing it, and firmware for storing it in a hardware device, and the hardware device based on the DIY. It's just easier than them starting from scratch. Not quite sure why they didnt just fork the code and the specs. Maybe they wanted the team?
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100 sats \ 1 reply \ @takaponka 29 Sep 2022
For now funds at Swan are protected by same big trusts that manage coinbase and others. This firm ( forgot name) has 50/60 % share of CEX funds. So they encourage self custody but actually not practicing it. This is not pointed out enough.
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40 sats \ 0 replies \ @rheedi0 29 Sep 2022
Prime Trust. Apex is another big player. Both handle the backend clearing for lots of exchanges. I think the regulatory burden is a major reason companies use these brokers, it can save a lot of time going to market.
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10 sats \ 0 replies \ @k00b 29 Sep 2022
Yeah probably dual purpose: build a self-custody arm + aquihire a team to do it.
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