Crypto CEO dies with the password to unlock $200+ million of customers' Bitcoin

Because transaction fees and delays are too high and too inconvenient. Exchanges are basically unregulated banks. They take your deposit and then record it in their own ledger. You can then do transactions on that ledger quickly and cheaply, only needing to do a blockchain transaction when you cash out. This of course defeats most of the “purpose” of cryotocurrency.

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