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RE: De-Spinning the Spin - The real truth
When you transfer funds to an exchange, those funds are de facto owned by the exchange.
You "trust" them to return those funds upon request, but the rules governing the fulfillment of any such request are subject to the whim of the exchange (most banks reserve the right to hold your funds for 30 days).
That's why we need trustless decentralized exchanges.
When theft is lawful, government is a crime.
This is why I don't use banks, who have stolen $100's of thousands from me permanently, and why I won't use exchanges. Since I learned my lesson before exchanges arose, I have lost nothing to exchanges.
My keys, my crypto.
You are repeating what they say but there may be more to it than just that.