šÆ A week after the Binance hack, the banks blinked first
š° Brazilās Nubank suddenly suspended crypto deposits and withdrawals, saying an external service provider was having issues. Itās only been a week since hackers made off with $6.3 billion from Binance.
š¬ Hereās the interesting part: the ripple effects are moving much faster than crypto prices. Traditional banks donāt want to take the blame, while usersā coins are stuck in limbo. After this round, the thin layer of custody may need to be repriced.
š·ļø #Nubank #å®å Øäŗ件 #CustodyRisk
š° Brazilās Nubank suddenly suspended crypto deposits and withdrawals, saying an external service provider was having issues. Itās only been a week since hackers made off with $6.3 billion from Binance.
š¬ Hereās the interesting part: the ripple effects are moving much faster than crypto prices. Traditional banks donāt want to take the blame, while usersā coins are stuck in limbo. After this round, the thin layer of custody may need to be repriced.
š·ļø #Nubank #å®å Øäŗ件 #CustodyRisk