MsJAG's video: Keep Your Cryptocurrency off the Crypto Exchanges and Wait for the Next BITCOIN Halving Due in 2024
@Keep Your Cryptocurrency off the Crypto Exchanges and Wait for the Next BITCOIN Halving Due in 2024
You've heard the saying: "not your keys not your coins". If you don't own your crypto coins on the blockchain, then you literally don't own them. If Sam Bankman Fried (SBF) wants to hand your crypto over to whomever - he can and he did. If his exchange goes down in a ball of flames and you can't get your coins off the exchange fast enough you're out of luck.
If accounting errors are found in Gemini, Crypto.com, and Binance exchanges and everyone rushes to take their crypto out, these exchanges may become insolvent. It doesn't matter if they say they have the money to cover such things.
Mt. Gox, Quadriga, and FTX are prime examples of a lack of transparency resulting in massive scams. Who is next? If FTX hadn't been brought down by an article in Coindest and a Nov 6th 2022 Tweet from CZ of Binance they would have had their tentacles in every facet of crypto, and other real tangible businesses. They would have been too big to fail, and then secretly propped up until.exposed. Crypto investors would have been screaming for regulation, and governments would have been more than glad to oblige with ready-made CBDC's.
SBF and FTX were no silly kids who had no idea what they were doing. Silly kids don't start a business offshore with big, well-known investors in not only the US, but the Virgin islands, and Dubai to name a few. They don't get celebrities to endorse crypto they hardly understand, and have people wearing FTX on their clothing, and getting stadiums embossed with their brand.
Don't despair, and don't get caught off guard. Read more about the scammy history of deceitful crypto exchanges including FTX, the narcissists who ran them, and the future of crypto here: https://medium.com/nfttalk/not-your-keys-not-your-coins-67d3a84fcf59
This video was published on 2022-11-30 06:00:20 GMT by @MsJAG on Youtube.
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MsJAG's video: Keep Your Cryptocurrency off the Crypto Exchanges and Wait for the Next BITCOIN Halving Due in 2024
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