{"id":15693,"date":"2022-12-12T09:12:44","date_gmt":"2022-12-12T09:12:44","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/paxful-ceo-preaches-bitcoin-self-custody-advises-against-crypto-exchange\/"},"modified":"2022-12-12T09:12:46","modified_gmt":"2022-12-12T09:12:46","slug":"paxful-ceo-preaches-bitcoin-self-custody-advises-against-crypto-exchange","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/paxful-ceo-preaches-bitcoin-self-custody-advises-against-crypto-exchange\/","title":{"rendered":"Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange"},"content":{"rendered":"
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The case for self-custody grows stronger as investors demand evidence of their assets over crypto exchanges. While some CEOs chose to double down on assuring the funds\u2019 safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody as he took responsibility for over 11 million users.<\/p>\n
The fall of FTX was an eye-opener for investors who predominantly entrusted crypto exchanges with safeguarding their assets. FTX CEO Sam Bankman-Fried, however, broke this trust by misappropriating users\u2019 funds via Alameda Research. Ever since, numerous exchanges had to share wallet information as proof of reserves publicly. <\/p>\n
\nWill be sending an email every week strongly advising our people to never keep savings on any exchange, including @paxful<\/a> This is the way ! Self custody your savings ALWAYS! pic.twitter.com\/DI95Gaa5Y6<\/a><\/p>\n