I want to go through a major event to pay attention to right now, which highlights a big lesson for crypto participants going forward. Major lending and borrowing platform celsius is on the verge of insolvency and has just frozen customer withdrawals from their platform. People cannot get their money out. This should not be ignored because celsius is a big player in the crypto lending and borrowing industry, and they are facing liquidity problems from making risky decisions and allocating money, specifically depositor money into risky positions to pay out. The high yields that they are promoting on their website, so, if youre watching this right now and you have funds with celsius truly, i am sorry um. I really do hope that you get your money out soon and you are able to take those assets into self custody, but i dont know whats going to happen with this going forward, so we just have to pay attention and hope for the best with that being Said this event does highlight a very important lesson, which is the phrase in the crypto industry? Not your keys, not your coins. The entire point of digital decentralized property, like bitcoin, is to separate your money from trusted third parties when you deposit, bitcoin into a lending platform such as celsius, youre, trusting celsius with the funds that youve given them and youre, trusting that they are managing that money appropriately And second, you are trusting that when you want to withdraw that money in the future that they will honor that request and actually give you your digital assets back, i personally dont think its worth it anymore to deposit any digital assets into a lending platform such as Celsius because the yields have been trending lower and have gotten to not worth it rates.

In my opinion, because the risk youre taking for earning that interest is that youre giving up access to your bitcoin and that violates the core idea or core philosophy of why bitcoin? Even exists, which is to separate your property from trusted third parties with all the chaos going on in the crypto industry right now, i think its becoming more and more evident that self custody is incredibly important, which means setting up a hardware wallet and storing your digital Assets in the wallet address that that hardware wallet has the private key to even better. I would recommend setting up a multi signature wallet with a company like unchained capital or casa. A multi signature wallet is how you create a super, secure vault for your digital assets and eliminate having a single point of failure. A multi signature wallet means youll, have a handful of hardware wallets or signing devices, and you need a majority of those signing devices to successfully transfer crypto out of the wallet and send it to another address. For example, in a two of three multi signature wallet, youll have three total keys and youll need two of the keys to sign a transaction and send funds out of that wallet. This is advantageous because if you set up a two of three multi signature wallet – and you geographically distribute these keys, then if something crazy happens, like your house burns down and you lose and one of the keys is destroyed, then you still have two of the three Available and you still have access to your funds – a multi signature wallet is very similar to having two factor authentication on a website.

So if you have two factor authentication enabled on a website, if a hacker gets your password, it doesnt mean that your account is compromised, because without the two factor authentication code, they cannot access your account, even if they have your password. So, in that sense, a two factor: authentication setup is like a two of two crypto wallet where you have two keys: that can sign transactions and send crypto out of your wallet. But in order for that to happen, you need access to both of those keys as opposed to just one, so it enhances the security of your holdings. I know this seems complicated and its definitely going to take some time to learn about and set up, but with all the things that are going on right now and big crypto institutions making it very difficult for people to withdraw their funds.