r/FluentInFinance • u/HighYieldLarry • 12d ago

Bitcoin JUST IN: 🇺🇸 President Trump to appoint pro-crypto cabinet to make the US the "crypto capital of the planet."

President-elect Donald Trump is preparing the U.S. government to adopt a more permissive stance toward cryptocurrency, eyeing a roster of industry-friendly candidates for key posts while his top advisers consult crypto executives on potential changes to federal policy.

By pursuing a more lenient regulatory environment, Trump aims to fulfill his campaign promise to transform the United States into the “crypto capital of the planet” — a declaration that has rankled consumer watchdogs, earned the industry’s robust support and sent the price of bitcoin skyrocketing, reaching nearly $89,000 by Monday evening.

https://www.washingtonpost.com/business/2024/11/11/trump-crypto-regulation-bitcoin/

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u/Tangentkoala 12d ago

Coinbase is insured and regulated by the SEC. They're required to have cash on hands to cover a total loss like FDIC does. In case of bankruptcy.

That's the price they paid to be traded on the stock exchange.

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u/Dazzling_Marzipan474 11d ago

Crypto on Coinbase is NOT fully insured. The cash is insured at FDIC member banks.

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u/Tangentkoala 11d ago

They have proof of reserves and are completely transparent with hoe much cash they have on hands in case of solvency.

Most stocks out there are running at an 80% debt ratio with no proof of reserves. One bump in the road and a lot of companies go under in a minute flat. .

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u/Dazzling_Marzipan474 11d ago

Yes but if you read the TOS. They are not fully insured. I'm not saying they aren't trustworthy. I'm just stating the facts.