That's a quick recipe to lose all their customers
replyThat's exactly the scenario they say they would never do and go as far as to have external audits to prove that they're not just "printing" free cash
I guess the point is simply that "blacklisted" coin is no longer a liability. They wouldn't be "printing free cash" they'd be cash neutral.
replyThe alternative is the stablecoin providers effectively keep the money for themselves. At that point the justification for the blacklisting seems like little more than self enrichment?
They just freely delete their credit.
replyWhy would they? In addition to moral hazard (next time), this is binance's fuck-up.
replyHave bad security, get hacked.
If binance wanted to hedge against that risk, they could have bought a cyberinsurance policy (if they could get one for the amounts they'd need).
They can just pocket the corresponding 5.6b USD.
reply