I am pretty sure this is old news by now, having been plastered all over mainstream media over the past few weeks.
FTX was one of the largest exchanges in the world but nevertheless, it has experienced a spectacular (or for many, heart-breaking) collapse in recent weeks, which has resulted in FTX filing for bankruptcy.
Heck, even I was also a user of the platform at a point in time before I withdrew all my funds. Like the few times I have mentioned on Discord, a few days worth of yield is nothing whenever you’re worried about anything – preserve your capital, always.
Enough has been said about the topic.
Considering the aftermath of the event, I would very much like to focus on the importance of self-custody instead.
Even today, I’m sure many people persist in relying solely on centralized exchanges and entities – which we all know by now, could be a rather risky move....