foobar on Twitter: Exchanges should not be in the business of credit creation. While tradfi banks can expand or contract the money supply, exchanges have no such power.

Exchanges should not be in the business of credit creation. While tradfi banks can expand or contract the money supply, exchanges have no such power. There are only 19.2 million BTC, only 120.5 million ETH. Any supply changes emanate from the ground-truth L1 chains themselves.

— foobar (@0xfoobar) November 14, 2022

Netflix is famous for their "Chaos Monkey" tool, which kills internal servers at random times to test healing. So should the crypto industry, especially centralized entities, be prepared at any time to handle excessive withdrawals, chain congestion, price volatility, etc pic.twitter.com/fnVWVlaXl8

— foobar (@0xfoobar) November 14, 2022