This should be a lesson for everyone, but I doubt anyone will learn. The FTX collapse, various other exchange “collapses”/rug pulls.
if you leave your crypto in an exchange, it is not in your possession. You give your crypto to an exchange and they pRoMiSe it will always be there. And then the exchange takes them
If these funds were actually held in self custody wallets, this wouldn’t couldnt happen.
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This is why I cashed out what little crypto I had for physical bullion (gold, silver) that I store at my own home.
Plenty of people laugh at me, but who’ll be laughing when we are all killing each other over a puddle of drinkable water or scraps of food?
Not me, either, but I might at least be able to barter for a few days before getting killed for it by some ragtag militia.
The most important aspect of crypto is that you only control it if you have the keys in a private wallet.
By putting it in an exchange all control of the crypto is lost.
Don’t try to spin this as lawful. Does binance reside in Israel? If not, why would they need to help them with the genocide?
Binance doing shady shit? Par for the course.
This should be a lesson for everyone, but I doubt anyone will learn. The FTX collapse, various other exchange “collapses”/rug pulls.
if you leave your crypto in an exchange, it is not in your possession. You give your crypto to an exchange and they pRoMiSe it will always be there. And then the exchange takes them
If these funds were actually held in self custody wallets, this
wouldn’tcouldnt happen.