Potentially stupid market structure question of the day: are 100% of Coinbase crypto trades executed on-chain? Is it possible for trades to happen off-chain?
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Replying to @HideNotSlide
0% are executed on-chain. It's a database update.
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Replying to @jgreco
Got it. So Coinbase users in theory own a crypto IOU until they transfer assets outside of its ecosystem?
3 replies 1 retweet 13 likes
Replying to @HideNotSlide @jgreco
Correct, the OG Bitcoin people are fond of saying "not your keys, not your crypto" for this exact reason
1:45 PM - 2 Jun 2021
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