<story><title>Coinbase warns that bankruptcy could wipe out user funds</title><url>https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/</url></story><parent_chain><item><author>zeroxfe</author><text>That thread actually seemed like a reasonable response to balance out the &amp;quot;gloom and doom&amp;quot; from the media. Also, not sure why you think &amp;quot;8 twitter posts&amp;quot; are a such big deal -- tweets are limited in size, and twitter has a broad audience, and these types of tweet threads are very common.</text></item><item><author>krono</author><text>When a CEO requires 8 twitter posts[1] to essentially convey the message &amp;quot;Don&amp;#x27;t worry about this legal clause&amp;quot;, it sort of has the opposite effect on me.&lt;p&gt;[1]: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;brian_armstrong&amp;#x2F;status&amp;#x2F;1524233480040710144&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;brian_armstrong&amp;#x2F;status&amp;#x2F;15242334800407101...&lt;/a&gt;</text></item></parent_chain><comment><author>dj_mc_merlin</author><text>It does not look reasonable in any way to me.&lt;p&gt;&amp;gt; Your funds are safe at Coinbase, just as they’ve always been.&lt;p&gt;You won&amp;#x27;t lose your funds, don&amp;#x27;t worry.&lt;p&gt;&amp;gt; For our retail customers, we’re taking further steps to update our user terms such that we offer the same protections to those customers in a black swan event. We should have had these in place previously, so let me apologize for that.&lt;p&gt;Unless we have your keys, in which case I&amp;#x27;m sorry we&amp;#x27;re not protecting you yet (but don&amp;#x27;t worry, everything&amp;#x27;s fine).&lt;p&gt;&amp;gt; We have no risk of bankruptcy&lt;p&gt;Said directly after their worst quarter to date. Always a lie regardless.&lt;p&gt;&amp;gt; however we included a new risk factor based on an SEC requirement called SAB 121, which is a newly required disclosure for public companies that hold crypto assets for third parties.&lt;p&gt;A rule made specifically for their type of companies that clarifies risks of storing assets in a non regulated bank.. somehow shouldn&amp;#x27;t make you scared that your assets might get taken away since it&amp;#x27;s very &amp;quot;unlikely&amp;quot;.</text></comment>
<story><title>Coinbase warns that bankruptcy could wipe out user funds</title><url>https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-assets-safe-private-key-earnings-stock/</url></story><parent_chain><item><author>zeroxfe</author><text>That thread actually seemed like a reasonable response to balance out the &amp;quot;gloom and doom&amp;quot; from the media. Also, not sure why you think &amp;quot;8 twitter posts&amp;quot; are a such big deal -- tweets are limited in size, and twitter has a broad audience, and these types of tweet threads are very common.</text></item><item><author>krono</author><text>When a CEO requires 8 twitter posts[1] to essentially convey the message &amp;quot;Don&amp;#x27;t worry about this legal clause&amp;quot;, it sort of has the opposite effect on me.&lt;p&gt;[1]: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;brian_armstrong&amp;#x2F;status&amp;#x2F;1524233480040710144&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;brian_armstrong&amp;#x2F;status&amp;#x2F;15242334800407101...&lt;/a&gt;</text></item></parent_chain><comment><author>krono</author><text>Only took me 5 words and a contraction to say the same thing, and I&amp;#x27;m not even a native English speaker.&lt;p&gt;Edit: All those maybe&amp;#x27;s and probably&amp;#x27;s are the most troublesome part though.</text></comment>