Comment by everfree
4 months ago
> those <expletive> crypto bros, a bunch of failed morons (self-proven by all these hacks)
Bankers are a bunch of idiots, too. I know this to be true because that one investment bank collapsed a bunch of years ago.
In all seriousness though, ETH is just a commodity; a bearer instrument; a thing. It's similar to gold or cash in some ways. If you store it properly, you're fine. If you give it to someone untrustworthy who loses it, of course that's a problem.
Well-regulated banks can start holding crypto on behalf of customers as soon as they're given the regulatory go-ahead. They've stored gold in vaults for thousands of years; they can store crypto in digital vaults too.
I’d be shit scared of a trad-fi institution holding crypto. I doubt they have the operational muscle, instinct, and know-how to properly safeguard it. Unless they partner with someone who does, which is what they’d likely do.
> Unless they partner with someone who does, which is what they’d likely do.
They're already doing it. Most crypto or crypto-adjacent product you'll see traditional firms is relying on a provider white-labelling crypto exposure.