Cointime

  • BTC $17205.72 -0.03 %
  • ETH $1279.47 -0.06 %
  • BCH $111.80 -0.09 %
  • SOL $13.66 0.00 %
  • XRP $0.39 0.03 %
  • BNB $289.20 -0.07 %

Crypto Self-Custodying Offers Protection Amid FTX Exchange Fallout

1 min read Original Link

Many crypto exchanges have failed in the past, losing client funds and causing many people to lose the money they had on the exchange. Crypto exchanges failing, unfortunately, is not an uncommon event in crypto, but the scale of fraud and mismanagement with FTX is unprecedented. These recent events have caused many in traditional finance to lose faith in the future of crypto, put tremendous downward pressure on crypto prices and lead many to call for further regulation in the crypto markets.

For the crypto investor, it is important to note these failures and astronomical losses are due to fraud, mismanagement of client funds and incompetence – not the failure of the software or blockchains themselves. As the fallout from these corporate failures continues, it is important for advisors to understand best practices for themselves and their clients who continue to invest in cryptocurrencies.

All Comments