Just like it was for all the other crypto brokers that went down, exactly like that ;-)

I might tone it down just a bit to "Somewhat unlikely to happen. Today."

I would say that's extremely likely. Make a list of your favorite tech companies from 1990 or 2000, and see how many still have technology teams qualified to tie their own shoelaces today, exist, and haven't turned into sleazeware companies.

You can calculate your annualized failure rate. That's a best-case on the odds your funds will continue to exist next year. Move fast / break things / fail fast / developer sprints / etc. speeds this process up even further. Crypto companies also have a giant target painted on their backs for hackers (including rogue state-level actors, some of whom just had large sums confiscated by Western institutions).

Tulips, anyone?

That actually does sound kinda impossible, 98% of their crypto is in secured cold storage, and it’s spread across distinct coins and different wallets.

I’m not saying it’s risk free, but what exchange or broker is? Does anyone else match Coinbase for security? Gemini seems at best equivalent.