So even after this news, do you think that you still see them as an excellent choice for your option?
Personally? If I wasn't involved in any crime then yeah. I reckon you can take it to court anyway? Granted it'd probably take years but if your assets can be traced back really cleanly then I don't think there's going to be much issue. Heck, if you were trying to hide the transaction line in the first place then I don't think you'd be using a centralized option anyway.
Honestly would just do secure wallets. They ain't that hard to do lol but if people prefer comfort and automation more than security then I got nothing to say to them.
I don't even think of putting it into court because that's going to cost a lot, not just money but time and effort. That's why whenever someone has got a huge amount of funds, it's better for them to just go with the best option that they can by simply doing transactions there when they are about to sell and not to keep it. And to make sure that their funds are clean because cexes are too strict with huge sell offs.
Having millions would rather make you more worry about the funds you have inside the centralized platform. This isn't a safe place for your money when all of a sudden they will just suspect you of money laundering. So why is the guy in coinbase, there are some other exchanges out there.
Too bad for that guy for being too trust. If they could do this to crypto, how much more for the coming CBDC that Ursula von der Leyen been trying to launch.
I think this is a common problem for those folks who have that much money and are too lazy to keep it in their own hands by putting it into a wallet that they can keep with their own private keys. This isn't the first time we've read someone got their tons of funds into an exchange and held it there. And with CBDC, they're for sure going to more centralized than what people can imagine and are optimistic about it.