I'd like to know your perspective on this:
- Is Coinbase the next weak point in the crypto market?
- Could Coinbase's collapse drag the entire crypto market into a new crisis?
- Could everything happening with Coinbase be a deliberate setup by market makers?
1. Centralized third party custody always a weak point, because there's always risk of social engineering and so on.
2. Definitely
3. I'm not really sure but it's highly unlikely though
This is why self custody is important thing, beside to let you take care of your money, it also reduce centralization of holder like this, we all know anything can happen and no system is safe especially in centralized system. But we can only just hope something like that didn't happen.
I mean have you heard coinbase's user data leak because the attacker bribed their overseas support agents?