That car is an absolute blast, so that was definitely fun but ive been getting the same reoccurring question here over and over about and whether or not its a safe, centralized exchange to leave your crypto. So i wanted to answer it in this video because i keep copying and pasting the same response every single time, because it has been asked that many times right now and that makes sense because theres a lot going on in the crypto space. So before we get into it, nothing in this video should be considered financial advice. Please do your own research, its videos, as always simply for educational and entertainment purposes, but because of celsius, locking everyones funds because of voyager locking up everyones funds because of vauld. Now doing the same thing, because theres rumors about kucoin theres. A lot of negativity that have been going on lately in the crypto space, but not really revolving around at all, essentially everythings positive for, so ill. Give you the short version, real, quick, essentially the answer that im copying and pasting to everybody who has commented. This particular question then ill. Give you my reasons why? So what i keep saying to everyone is: yes, they should be fine. The centralized exchanges crumbling are the ones who had exposure to three heiress capital who recently fired for bankruptcy. Chris has already announced that they had no exposure to three eras capital so through his capital kind of spearheaded this whole thing, theyre a big venture, capitalist firm that was kind of intertwined with all of these kind of third tier exchanges like celsius like voyager, for example, And so when they go bankrupt, that really really hurt a lot of the third tier exchanges, but the good news is crypto.

com, had no exposure to three eras capital. So for that reason they should be completely fine thats. The short answer so just to elaborate, though, and chris mars, lacks response on twitter. The industry would be better off after subscale companies with broken business models are out. There will be some short term pain. Yes, that is definitely not a good thing and im sorry. If anybody had their funds locked up on celsius, i can only imagine the pain you were going through, because that would be absolute. It would be a horrible feeling for anybody. So definitely not a good thing, but back to the response. Weve seen some of it play out already, but the whole space will emerge stronger because of this much needed cleanup now back to building. We are only at 330 million crypto holders globally, still plenty to do before we cross the chasm and reach early majority onwards. He also noted on the importance of scale, in spite of our scale and our public unit economics, optimization exercise. There is still plenty of fun being manufactured every day, ive seen two just this week that we are slowing down, withdrawals and running special deposit promotions. This is all false click bait. Our withdrawal policy is the same as it always was. We didnt implement any new restrictions. We run no special deposit promotions and we make sure that all regular ones that we do run are profitable. That is the key. Profitability is honestly what youre looking at in an exchange, if you guys think of it, a lot of people were upset when they brought back the crypto.

com card rates when they brought back the rewards that you would get every single time that you spend on the card. I know the most recent update, i believe in great britain was that you now have a one percent fee when you top up your card with a debit or credit card, and there are ways around that by the way you can simply do an ach push and You dont have to worry about that fee anymore and honestly that fee isnt all that bad considering the fees you would get on. Maybe a coin base, or something like that. So that is always good to be still even at that a good bit more, so keep in mind that you want a centralized exchange to be profitable. So when they do things like this, yes, it may be upsetting for the short term, but theyre doing things like this, so that they are profitable for the long term, so they dont have to lay as many workers off as the other exchanges, which has been the Case so far so coinbase, i know laid off 15. I think the number was, whereas only had to lay off five percent of their workforce when this bear market first hit here. So that is what im talking about. They wouldnt be doing all of these advertising campaigns as well were setting up long term sponsorship contracts with the ufc with the arena just to go bankrupt in a few months.

I mean, if you think about it, why spend hundreds of millions of dollars on the arena for a 10 year contract? I think it was. I dont even remember at this point just to go bankrupt in a few months. It doesnt make any sense guys. So please put that out of your mind. I am 100 still leaving my funds on the app. But to be honest, i spread out, but i have several different exchanges, but my two main exchanges are the d5 wallet, first and foremost, and then the centralized app as well, because i want to diversify and nothing has changed with my thoughts on the Centralized app, i still have thousands on there as well, so that is my own personal opinion. Just you guys know ill. Give you one last tweet from chris marzilac here. One of our core values at is to remain humble. This means we dont seek limelight, always try to take the high road and do the right thing. That also means i tend to ignore noise, avoid commenting and prove people wrong with actions, not words. So i grew up in a baseball family. The saying was, speak softly and carry a big stick so again actually speak louder in their words, hes not going to try to combat every single bit of fud. That says, oh no, something is happening because the plan is just to continue on with their success. By continuing to do what they are already doing at this current time, so hopefully that clears it up for you guys, hopefully thats a bit of hopium for you.

Hopefully you put your mind at ease. Hopefully i stopped saying hopefully, but that is about it for this one. You guys thank you so much for watching feel free to follow me on social media somewhere on the screen be sure to hit the subscribe to the bell notification button if youre into, crow and chronos. That is what we do here on this channel.