Crypto Investments

Obviously it's not for us advise on investments of course but.......

In City AM newspaper there is a pertinent issue being considered. See attached article.

It may be the CEO of Coinbase didn't mean what he said, but it's perhaps a lesson in how when speaking to journalists you should check your facts very very carefully, and not just blather on.

The hoohah is that he carelessly said that funds invested through his platform are not ACTUALLY ring-fenced in Clients accounts. This means that if something went wrong, and his company failed, the depositors funds would be vulnerable to payment of all creditors of Coinbase. This is of course the position with a regulated bank, hence the Investors Compensation Scheme, but of course he's not a bank so he's not part of that lifeboat. There's no indication that he has fixed this, and of course the recent news in Crypto is not that great.

The Press cutting from City AM(c) is attached. PS. I tell all my staff to read this paper every day, it is excellent.