That’s a quote from Brian Armstrong, chief executive and co-founder of cryptocurrency exchange platform Coinbase COIN, -0.35%.
But if such a “black swan event,” as Armstrong labeled it, ever occurred, some retail investors on the exchange may lose out on their crypto if a court deems those assets as part of the company in legal proceedings, he said. “Because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings and such customers could be treated as our general unsecured creditors,” Coinbase wrote in the SEC filing.
🧢
Liar
LOL, which means it's going bankrupt shitcoins
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