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Phoenix and Wasabi exit US market amid self-custody wallet crackdown (cointelegraph.com)

submitted 5 months ago by deafboy@lemmy.world to c/bitcoin@lemmy.world

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"Recent regulatory action against Consensys and Samourai has instilled fear among other crypto service providers operating in the United States."

Wasabi is the main competitor to Samourai's whirpool mixing service. The only one flying under the radar currently is Joinmarket.
Phoenix is the Lightning network wallet where users keep custody of their funds, but the channel management is outsourced to the company. The only remaining self custodial lightning wallet that remains is Breez.

While this news is deeply troubling, it might push further development to more sustainable trustless self-custodial solutions in the long term.

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[–] deafboy@lemmy.world 1 points 5 months ago (1 children)

Didn't mimblewimble suffer from a disign flaw where the transactions were anonymized in the blocks, but traceable for anyone listening for the mempool chatter?

[–] shortwavesurfer@monero.town 1 points 5 months ago

I honestly have no idea as I've never actually looked very much into Mimble Whimble.