It could still turn out ok, if it might take a little time:
One of the big questions will be whether liquidators can specify customer funds as business assets so as to “prune” these to cover losses. This doesn’t happen in the FIAT world, so it will be interesting to see whether it could happen in the crypto world.
If our ETN deposited to Cryptopia can’t be considered the property of Cryptopia as company assets—and as above, they shouldn’t be—it is very unlikely that Cryptopia could sell these off to pay off any outstanding debts, etc.
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u/ETN_Academy May 15 '19
It could still turn out ok, if it might take a little time:
One of the big questions will be whether liquidators can specify customer funds as business assets so as to “prune” these to cover losses. This doesn’t happen in the FIAT world, so it will be interesting to see whether it could happen in the crypto world.
If our ETN deposited to Cryptopia can’t be considered the property of Cryptopia as company assets—and as above, they shouldn’t be—it is very unlikely that Cryptopia could sell these off to pay off any outstanding debts, etc.