who rugs first? swan or binance?
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This is quite the insinuation. What would lead you to such a drastic conclusion about us?
Not sure what Odell knows. From public info maybe it has to do with PT.
https://www.coindesk.com/policy/2023/06/27/nevada-places-crypto-custodian-prime-trust-into-receivership/
It’s unprecedented to have funds in legally segregated trust accounts clawed back. That’s the whole point of a trust company. It segregates business operations from client funds.
Who is PT’s replacement?
Fortress Trust for legal custody and BitGo for physical custody.
We’re working to increase redundancy, including building out our own compliance and settlement. 
Agreed. This is an accusation with nothing to back it up. It's deliberately ambiguous. We all know about Binance, we all assume Swan is fine & trustworthy. Unless he has some behind the scenes information that hasn't got out yet then he should not post a comment like this. It's irresponsible.
Exactly. He won’t respond to my Telegram DMs either. Surprising from Matt.
And by the way, there’s no inside information about Swan he could know that I don’t. There is nothing. 64% of sats purchased at Swan every month are withdrawn. We encourage and support self-custody as much as possible. Every other sat is in a legally segregated trust account in the client’s name and, by definition, 100% reserve. Only bitcoin, of course. There is no logical reason to compare us to Binance. 🤔
Is there an pdate to any of this yet? I haven't seen anything
Followed #plebchain
Yo, someone fill me in on the drama please. I have friends with money on Swan. Been trying to encourage them to get off.
#asknostr @ODELL
I have a lot of respect for the work you do because you try to give objective takes. What is your objective reasoning for comparing Swan to Binance in this way? I think we deserve to hear it.
Odell is investor in River. Follow the money baby!
He should be disclosing this every time he talks trash on Swan which has been an amazing source of education in the space.
Bitcoiners attacking bitcoiners ain't cool, ALLCAPS.
I believe Swan is a Ten31 portfolio company. In which case it would be in his best interest for Swan to do well too.
💯
is it ok to trash on swan already?
Curious about this one ...
binance already rugged anyone who sent them bitcoin. that's a trick question, that is
Curious to know why swan was mentioned. I thought they loved the self custody of Bitcoin. Feel like I'm missing something or some context here.
Is there trouble at Swan?
Ugh. I’m gonna have to do some research. Mine goes to cold storage anyway, but still.
Swan. They always point the finger at everyone else so no one looks at them. Their centralized custodian reliance of Prime Trust nearly rugged their users. River has a better business model for bitcoin only companies. But really it doesn’t matter where you get your bitcoin, just take self custody asap (while minimizing utxo’s) so your reliance on any centralized exchange is minimal. (Yeah I know peer to peer is better)
Swan would be something
different size of rug... question is who has already rugged its users but we dont know yet..?
Wallet of Satoshi :-)
Swan
Last men standing @jack mallers and @npub139nl...kwf4
Transparent in house Bitcoin only exchanges is the way.
swan 100 percent , klippenstein is gay
Wouldn't be surprised if Swan rugged. They narrowly escaped Prime Trust's magic carpet ride, then migrated everyone to Fortress, which was founded by Prime Trust's founder, Scott Purcell, and staffed with former SVB compliance officers. Very unsavory all around.
As I type, they are experiencing technical difficulties with their Bitcoin purchasing portal thingy.
https://www.coindesk.com/business/2023/04/25/former-signature-bank-crypto-payments-chief-four-of-his-team-join-fortress-trust/
what is the swan rumors?
Ck or Cz
I never have a clue what you're going on about ODELL! who decides?
Hmmm what is this ?
27% no rug until 2030... LOL
who rugs first? satoshi or vitalik?
View quoted note →
Swan wouldn't be a surprise by any stretch. Binance can keep their ship afloat for a lot longer due to the sheer size of the shitcoin faucets they can tap in to.
Both in the same week would be a decent outcome for stone cold stackers. Might be some tears shed along the way.
As a sidequest... WoS pulls the mother of all LN rugs in the meantime.
CZ imo. Swan is small enough to get bailed out, but once Binance starts imploding, I don't see anyone who can and would step in.
Swan for sure
Swan already rugged. It's called "spreadgate" and it happened November 2022.
View quoted note →
No sure at this point
👀😬💀☠️
Is Strike planning to open source? That’s the only thing holding me back from using the product.
Swan
You now..
Hell, we sat on the side and saw a body flowing down the river. Now scan the horizon looking for the second one
Wow.
lol