BNBGUY community update 🟡
Big day yesterday. Binance had a security incident, and here's where it stands: Binance says it has set aside over $6.34B of its own funds to cover affected users, and around $3B has already been frozen with help from partners. PancakeSwap confirmed it wasn't affected and is running normally. BNBGUY lives on-chain on BSC, and nothing changes for holders.
Some thoughts on custody, whatever the cause turns out to be:
Fiat is centralised. Your money sits in banks and institutions, and you can't self-custody it.
With crypto you get a choice:
- Decentralised (self-custody): you hold the keys and you're responsible. A bad link or a lost or compromised seed phrase, and you're on your own.
- Centralised (exchanges): like a bank, you trust them to stay secure and stay open. A SAFU fund for incidents like this works a bit like insurance.
Know which one you're using, and protect it. Never share your seed phrase, and double-check links.
Also yesterday, BNBGUY joined the CZ / Elon / Yi He conversation on X. A $30K meme coin brokering world peace.
Stay safe, stay SAFU. NFA. DYOR.
I'd add these four at the end, which keeps it relevant without looking spammy:
#bnbguy #BNBChain #safu #CryptoSecurity `
Big day yesterday. Binance had a security incident, and here's where it stands: Binance says it has set aside over $6.34B of its own funds to cover affected users, and around $3B has already been frozen with help from partners. PancakeSwap confirmed it wasn't affected and is running normally. BNBGUY lives on-chain on BSC, and nothing changes for holders.
Some thoughts on custody, whatever the cause turns out to be:
Fiat is centralised. Your money sits in banks and institutions, and you can't self-custody it.
With crypto you get a choice:
- Decentralised (self-custody): you hold the keys and you're responsible. A bad link or a lost or compromised seed phrase, and you're on your own.
- Centralised (exchanges): like a bank, you trust them to stay secure and stay open. A SAFU fund for incidents like this works a bit like insurance.
Know which one you're using, and protect it. Never share your seed phrase, and double-check links.
Also yesterday, BNBGUY joined the CZ / Elon / Yi He conversation on X. A $30K meme coin brokering world peace.
Stay safe, stay SAFU. NFA. DYOR.
I'd add these four at the end, which keeps it relevant without looking spammy:
#bnbguy #BNBChain #safu #CryptoSecurity `
