Coinbase, if it ever goes bankrupt, the customer assets are considered their assets. If they go under, they will use your funds as if they are theirs.

Not your keys, not your coins but people don't listen. People think they're "safe" when their investments are on exchange. I even heard one say that the exchange will give a "warning" if there's any problem.

Many people think that because exchanges refund after those tiny hacks they experience that they're somehow protected. They don't understand the concept of fractional reserve banking and how exchanges are basically banks in disguise.

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