While a catchy phrase, it ignores the multitude of legal, regulatory, and operational protections implemented by regulated entities such as ErisX and the convenience and benefits they enable. Our approach to handling crypto is similar to our approach to handling fiat currency in that we maintain multiple wallets in the name of Eris Clearing. Eris Clearing in turn maintains detailed records for each member such that in real time we know the available fiat and digital currency balance for each member. As an entity with a track record of regulatory compliance and transparency we are subjected to high standards of independent review and have implemented a model that enables us to safely and securely hold customer assets without sacrificing efficiency and utility. Please see our section on security and SOC2 Type II certification