kenso on Nostr: ⚡ Bitcoin Self-Custody Calls Intensify as Centralization Grows: 'No One Is Ready ...
⚡ Bitcoin Self-Custody Calls Intensify as Centralization Grows: 'No One Is Ready for the Biggest Hack in History'
💙 With self-custody and third-party custodians becoming hot topics within the crypto community, the founder of timechainindex, an X user known as Sani, recently posted an eye-opening image of onchain data. The snapshot revealed that Coinbase currently holds 11.72% of the total 19.77 million bitcoin (BTC) in circulation. Sani’s data and insights emphasize the risks tied to such a large concentration of bitcoin, pointing out that the massive amount held by the San Francisco-based crypto giant creates an enticing ‘honey pot’ for cyber criminals.
💙 With self-custody and third-party custodians becoming hot topics within the crypto community, the founder of timechainindex, an X user known as Sani, recently posted an eye-opening image of onchain data. The snapshot revealed that Coinbase currently holds 11.72% of the total 19.77 million bitcoin (BTC) in circulation. Sani’s data and insights emphasize the risks tied to such a large concentration of bitcoin, pointing out that the massive amount held by the San Francisco-based crypto giant creates an enticing ‘honey pot’ for cyber criminals.