Everyone is wondering what's next after FTX collapse. CZ published a proof-of-reserve but immediately after that Jesse Powell (Kraken CEO) claimed it is pointless, since it is not externally audited. CZ replied it will soon be audited, but what could happen in the meantime? Meanwhile, Genesis is close to bankruptcy, and Gemini could be in trouble too. Furthermore, NEXO still offers high APY rates on stablecoins with the same model as Celsius and FTX, i.e., most of their collateral consists of their own token...

So, should you leave your coins on centralized echanges (CEX), even if it is on Binance? Of course not, even Binance can be in trouble in the short term. Until they have really been audited, you can only trust what they say. CZ seems to be a reliable guy, but SBF looked like a typical nice guy too, didn't he?

The raison d'etre of cryptos is the decentralization and financial freedom, and a trustless system. So you should never trust anyone, even CZ... "Not your keys, not your coins" has never been so true. So, why should you leave your coins on a CEX? Creating your own wallet through Metamask will take you a few minutes. And you can protect it with a Ledger, Black Friday is extended till today, Nov. 28 (link below). So, ready for the big jump in real cryptos?

You can store your Bitcoin (BTC), Ethereum (ETH) or Binance Coin (BNB) on a Ledger from today, and become really free from any risk linked to the CEX.

Ledger: get $30 bonus for a Nano X