Billions of dollars in cryptocurrency have left centralized exchanges
The phrase Not your keys, Not your crypto always meant your crypto on centralized exchanges, in exchanges, wasn’t really your crypto and being in the exchange’s wallet, they could spend it.
No one ever believed an exchange would steal/spend depositors funds, but the reality is that the exchanges are not transparent, and now FTX has shown everyone in and outside of crypto that holding your Hive on an exchange is dangerous.
‘Thus the current movement of hundreds and thousands of Bitcoin, Ethereum and other altcoins off exchanges indicates the message has finally gotten out there to the masses. Take control, take possession of your cryptocurrency because exchanges do steal it, even big exchanges.
‘While FTX is a huge disappointment, and literally millions of accounts has possibly lost everything, one silver lining is that people have finally learned the importance of holding your crypto, in your wallet.
