Crypto storage is not a binary choice between self-custody and fully trusting a third party. ConsensusAtC23, presented by hedera
, the conversation about trusting centralized bodies with crypto keys returned to the limelight. Several million customers are still waiting to reclaim somewhere between $1 billion and $10 billion worth of crypto assets tied up in the Bahamas-based exchange, according to the initial bankruptcy filings.
A closed-door roundtable conversation at Consensus 2023 looked at how policymakers can create effective guidelines for consumer protection without undermining, and perhaps advancing, the crypto ethos of controlling your own assets. Participants hailed from a variety of backgrounds, from technology to regulation to business.
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The Case for Self-Custody in Wake of FTX CollapseFTX and other exchange bankruptcies have highlighted the potential risks to users of trusting centralized entities with the keys to their crypto. As part of CoinDesk's Consensus Consensus Report, CoinDesk Ethereum Protocol Reporter Margaux Nijkerk joins 'First Mover' to discuss the outlook for crypto self-custody in the aftermath of the recent crypto crash.
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