[raverbashing]

> 3. We believe our Prime and Custody customers have strong legal protections in their terms of service that protects their assets, even in a black swan event like this

> 4. For our retail customers, we’re taking further steps to update our user terms such that we offer the same protections to those customers in a black swan event. We should have had these in place previously, so let me apologize for that.

> 5. ...and it is possible, however unlikely, that a court would decide to consider customer assets as part of the company in bankruptcy proceeding

The term people might want to google is "bail-in". And it is likely that Coinbase has less protections related to that than a conventional bank.