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https://twitter.com/BillAckman/status/1599611889675141121So let’s start at the status quo. In current tradfi, institutions & retail store assets through institutions with a custodian policy. Which essentially means custody solutions BNY/NorthernTrust have bought from vendors like Thales.
https://twitter.com/tier10k/status/1526300514509545473The implications might be that the next wave of new users could be permanently custodial based with an exchange tracking their transactions & taxes.