June 20, 2023
81: Custodian Going Bankrupt? | What's Going On With Prime Trust and How Does It Affect Swan, Strike, River | Binance and Coinbase Sued by the SEC
A deeper dive into the pros and cons of qualified custodians used by exchanges vs having your own infrastructure. A bankruptcy scare that led to speculation. Seems like Swan is doing just fine as it adds 85 jobs openings, triples the sales team and 15x's marketing spend.
A light touch on the Binance and Coinbase lawsuits as well.
Links from the show:
- Strike Twitter Thread of Updates, including infrastructure
- Strike Infrastructure Update Blog Post
- Binance Lawsuit from SEC
- Swan Signal on Binance/Qualified Custodians
- SEC sues Coinbase over exchange and staking programs, stock drops 12%
- SEC Sues Binance on 13 Charges
- Cory Klippsten on Qualified Custodians
- David Bailey's Original Twitter post on custodian going bankrupt
- Scott Purcell of Fortress Trust talking about his former company Prime Trust
- Crypto Custody Firm BitGo Reaches Preliminary Agreement to Buy Prime Trust: Sources
- Prime Trust
- Fortress Trust
- Bitgo
- BTC Sessions YouTube Tutorials
- Assessing Risk in Bitcoin Custody - Swan Blog
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