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Bitcoin Self-Custody Fundamentally Different From Traditional Banking, Says Crypto Analyst: 'When You Put Money in a Bank...'
Benzinga ·
Benzinga reports: Bitcoin on-chain analyst Willy Woo on Tuesday called the “Be your own bank” slogan misleading by contrasting traditional banking with cryptocurrency self-custody. Banks Vs. Self Custody Woo said on X that bank deposits transfer “legal title” to the institution. The money merges into the bank’s asset pool, and the bank has the right to use it as it sees fit. “What you get is a claim on a debt that the bank owes you… assuming it remains solvent,” Woo added. They contrasted…