Trust Wallet Token soars amid stock market concerns

The price of TWTthe native wallet file in autocura Trusted portfolio from Binancewon more than 100%. for 48 hours. Changpeng Zhao tweeted about self-preservation during the weekend.

” Not your keys not your currency ” [pas vos clés pas votre crypto]This advice, distilled by ecosystem figures for years, is now more relevant than ever in the wake of the FTX collapse.

Investors who hold digital coins on an exchange such as Binance, Coinbase or FTX (rip) have. no control over their cryptocurrenciesas long as the keys to transfer funds are held by the platform in question.

And the fall of the SBF empire has proven it once again. A large number of FTX clients can no longer access their assets.

Some investors, still reeling from the unexpected fall of the Bahamian stock market, have this time learned their lesson – as evidenced by the large volume of withdrawals from the platforms – and are turning to self-custody solutions.

Like Trusted Portfolioa decentralized hot wallet acquired by. Binance in 2018. Users of this type of wallet are the only ones who have their private keys.

The price of the native token of the wallet, TWThas jumped from more than 100%. from Saturday in $2.46at the time of publishing this note. The increase in the Trust portfolio token. appears to have been fueled in part by a tweet from Binance’s founder.

Sunday morning, Changpeng Zhao stated that Binance was not just a CEX [ndlr une plateforme d’échange de crypto-monnaies centralisée] and highlighted its self-custodial product Trusted Wallet.

Personal custody is a basic human right. You can do it at any time. Just make sure you do it right. We recommend starting with small amounts to learn the technology and tools first. Here, mistakes can be very costly,” he added.

Self-preservation In fact, it also implies duties. If the private keys are lost, the cryptocurrencies are locked forever.

Like many industry figures, the rival stock exchange chief CoinbaseBrian Armstrong, also returned to the FTX crash and the topic of. self-custody.

“In the long run, the cryptocurrency sector has the opportunity to build a better system with DeFi and self-custody wallets that do not rely on reliance on third parties,” he said.

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