I dont know if you guys have followed the intertwined cascading liquidity events that have taken place recently but lets just say- Its not good. I think chances are high that we could see another exchange crash like Mount Gox. (I guess this explains why everyone got that Coinbase letter stating that they would take everyone's crypto and give it to the VC firms and banks if they went bankrupt. Its hard to believe that this could really happen.)
It turns out that even trusted names like Kraken have been loaning out their reserves to incredibly sketchy funds/projects and many of them are now collapsing.
So I no longer feel that the exchanges are safe for my capital. Kraken was my safe space because they have a bank license but they dont actually FDIC insure your funds and they seem to be caught up in this mess as much as the other exchanges like Coin base and Gemini.
What to do? Anyone have any ideas to circumvent this problem?
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