After a brief spat with Binance CEO Changpeng Zhao, Tesla CEO Elon Musk took aim at crypto exchanges.
In a recent tweet, the centibillionaire speaks out in favor of withdrawing money from centralized trading platforms so that Dogecoin holders control their own private keys.
Exactly
— Elon Musk (@elonmusk) November 24, 2021Bitcoin Could Crash to $50,000 Before Its Starts Rallying, Tom Lee SaysSHIB Burns Skyrocket 2,221%, Here's What's HappeningTop Ripple Lawyer Says Gensler 'Anti-Crypto Crusade' Is ImplodingStellar (XLM) Below Key Indicator, Solana (SOL) Bull Run Officially Ended? Ethereum (ETH) on Verge of Ending It
This is not the first time that Musk has supported the “not your keys, not your crypto” crowd. In February, he tweeted that any cryptocurrency wallet that doesn’t allow users to control their funds should be “avoided at all cost.”
Back then, Musk also posted a Chuck Norris meme about Mt. Gox, the now-defunct cryptocurrency exchange that lost 850,000 BTC in the devastating 2014 hack.
This is true power haha pic.twitter.com/Fc9uhQSd7O
— Elon Musk (@elonmusk) February 10, 2021
Crypto holders are typically discouraged from holding their crypto on exchanges due to possible hacks or other incidents. However, there are also those who believe that newbies shouldn’t self-custody their crypto since the process is too cumbersome and may result in the loss of funds.
Alex DovbnyaDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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