Ryan Sean Adams (rsa.eth)
@rsa.eth
Quiz: what is the actual settlement layer for cbBTC? It's not Bitcoin. Nor Ethereum, Arbitrum, Base, or any L2. The settlement layer for cbBTC is Coinbase Global, Inc, a Delaware corporation - backed by Delaware corporate law & secured by the USA property rights system.
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Greyhound/10
@greyhound10
Not decentralized and therefore not what we’re aiming for - but at the same time, this makes further inroads into the day to day corporate structuring that everything else uses here in the USA. So, if normalizing crypto on traditional rails is a good thing, then some part of this is a win.
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