Madoff Securities was an American company whose shady shenanigans were all contained within the US.
So the fact that Coinbase is entirely US based is also not a guarantee that it's not doing shady things.
And the implication DonHopkins was making is that every major actor in the crypto space is run by scam artists trying to defraud people of their money. There are no good actors.
It's not about the level of risk with regards to the structure of the company. It's about the people running it. And no manner of corporate structure is going to prevent people from simply lying. Which is what every fraud has to do at some point. By their very nature.
DonHopkins is saying since we can't trust the people running these companies, we can't trust these companies.
And the fact that they've been around for a while or are based solely in the US mean nothing when one of the largest financial scams ticked both of those boxes.
So the fact that Coinbase is entirely US based is also not a guarantee that it's not doing shady things.
And the implication DonHopkins was making is that every major actor in the crypto space is run by scam artists trying to defraud people of their money. There are no good actors.
It's not about the level of risk with regards to the structure of the company. It's about the people running it. And no manner of corporate structure is going to prevent people from simply lying. Which is what every fraud has to do at some point. By their very nature.
DonHopkins is saying since we can't trust the people running these companies, we can't trust these companies.
And the fact that they've been around for a while or are based solely in the US mean nothing when one of the largest financial scams ticked both of those boxes.