TL;DR: It's not worth the effort moving to Kraken b/c the trade won't clear any faster and they'll charge more fees (even if they don't lend out your crypto). Even if CB goes tits up, you've still got most or all of your funds if you withdraw to a hardware wallet.
The exact claim made by the CEO is that, if you hold money on the exchange, then it's not yours in that it can potentially get acquired by other creditors in the event of a bankruptcy. Naturally, there's a lot of people complaining about this.
My thoughts: Some exchanges like Kraken claim that this is not the case for them, but CB still has the lowest fees. You can also take your coins off the exchange and onto a hardware wallet the moment they're cleared to withdraw (like I do).
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