You guys claim Crypto is an asset / currency if it is an asset it is traded on a Crypto exchange just like shares are traded on an Stock exchange, so just like a good stock exchange should not go burst taking away the Assets, Crypto exchange is same .. you are just a blind believer.... Crypto is digital Shares now a days are digital records
crypto end users need to do their own due diligence. Anyone can create an exchange, coin, smart contract, wallet, swap utility, ... And the developer who developed those can add anything they want .
You think so? Ok, back to explaining what crypto is to dummies... Crypto is a currency, which is money. Stocks like apple and google are assets, which are traded for money. Does it make sense to try to steal a stock asset? Not at all Can you do anything with an asset even if you did steal it? Not at all Is stealing a stock asset the same as stealing money? Not at all What would you call someone who thinks stealing an asset is the same as stealing money? An idiot
I can tell you about the LSE... They have the ability to manipulate the market at will, and go so far as changing the outcomes of trades to bail out their 'big' friends. Even recently, one of the top traders ended up with a margin-call, so the LSE reversed the trade, making winners go bust while bailing out the untouchable after he over-levered and went bust first. They don't even need to defend these actions, official statement can be as simple as "Well we thought it may be in the best interest of market stability to reverse the trades."
Because it "needs" to be spent. Can't spend part of a painting on a wall. Or a car in a garage. Though you can spend part of a bitcoin, wink wink I suppose, after all, you could by spend part ownership of a so-called hard asset per se. Money is anything that can be exchanged for something else. That's it really.
Is stealing a stock asset the same as stealing money? Not at all Of course it is ,,, you just sell stolen Shares or keep them What is the diff between stealing MSFT stock, Eurodollars or Bitcoin .. it is all wealth , you can use it to do something, My point is the exchange / broker which holds this wealth on your behalf must be robust,, hence e the question How many Stock exchanges have gone belly up and then compare this to the FTX and others... People are happy to take Market risk but not this stupid risk of Exchange itself going out of business with the client assets Since you crypto fanatics claim Crypto is an asset ( example Milo in USA gives home loans against it ) What you call a person who think Money is not an asset? Any way it looks like you guys are like a religious sect,, won't accept any criticism
Anyone can create an exchange,, yes and that is the problem.. most of them were and still are in tin pot jurisdictions (BITMEX for example)... on the other hand CFTC in USA allows new exchanges for Futures types of derivatives ( derivatives clearing organization) example Nadex but you have to go through lot of scrutiny, what scrutiny a Seychelles or BVi or Vanuatu regulator have... ! and yet people put their hard earned money in these questionable exchanges and that too in an asset! which can be hacked ...and stolen as shown multiple times LOL Bitmex even advertises "Since its inception in 2014, BitMEX has lost zero customer funds through intrusion or hacking." really! an exchange has to advertise this??? says a lot about the risk.