Crypto influencer uploads video warning crypto investors about storing crypto on exchanges.
The video used FTX and Celsius as examples of “not your keys, not your crypto”.
Investors were warned that a bankruptcy filing for Coinbase would result in them losing their crypto.
The latest event to impact the crypto markets, the downfall of FTX, is a practical example of how crypto stored on exchanges does not belong to the people that make use of the exchange platform. The saying “Not your keys, not your crypto” explains this best.
The crypto influencer, Dan Gambardello (@cryptorecruitr), uploaded a video to his YouTube channel, Crypto Capital Venture, yesterday. In the video, he spoke about how safe investors’ crypto is on exchange platforms and used the collapse of Celsius as an example.
Celsius, the crypto giant, collapsed last year, which resulted in billions of dollars being wiped out. The price of the crypto giant’s native crypto, Celsius (CEL), plummeted more than 80% in 2022. As a result, the price of CEL now stands at $0.5086 at press time according to CoinMarketCap, after trading at a high of $9.257.
The collapse of Celsius exposed the level of risk that crypto investors open themselves up to if they store their crypto o …
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