I have 2 questions about this.
Is it ever legal for a company to hold assets in a personal account of an owner/employee?
Karpeles did the same, didn't he?
And if it's legal, how does the bank do due diligence on the source of wealth?
The other thing is, people say Mt gox collapsed, but it recovered. True, however the recovery was very slow and many people took a large hit. I understand if the Mt gox btc are still there, most can be made whole.
Now people say btc can collapse just like Mt gox, but Mt gox collapsed because it was hacked, the btc themselves have been stolen.
How would btc collapse if tether is stopped being used by exchanges?
The people holding tether would simply not be paid whatever cryptocurrencies they bought with tether?
I understand people just use it as a gateway and hold only for few seconds, right?
The other thing is, people say Mt gox collapsed, but it recovered. True, however the recovery was very slow and many people took a large hit. I understand if the Mt gox btc are still there, most can be made whole. Now people say btc can collapse just like Mt gox, but Mt gox collapsed because it was hacked, the btc themselves have been stolen. How would btc collapse if tether is stopped being used by exchanges? The people holding tether would simply not be paid whatever cryptocurrencies they bought with tether? I understand people just use it as a gateway and hold only for few seconds, right?