Quote:
Originally Posted by raulus
And for that matter, what happens if these vault companies go under? Based on all of the crypto “banks” that have gone under and taken people’s crypto with them, it seems like the same problem could easily exist here.
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This is what I am concerned about with PWCC's lending activities and using the Vault as leverage. Has anyone who uses Vaults checked on what happens if PWCC goes bankrupt? Can they take your cards and use it to pay off their creditors? This is what happened to some of the crypto firms like Celsius that went bankrupt. Folks who kept their crypto in those firms were not able to access their holdings anymore. If leverage like this is propping up card values, this may be what may ultimately cause the market to pop later.