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Binance CEO Encouraging Users To Use The Trust Wallet For Crypto Self-custody

The native token of Trust Wallet, TWT, reached a record high when Binance CEO Changpeng Zhao urged members of the cryptocurrency community to take personal ownership of their digital assets via the app.

As investors reconsider how to protect their assets in the aftermath of the collapse of cryptocurrency exchange FTX and the following attack that stole $600 million worth of coins from its wallets, Zhao is pushing for self-custody. CZ urged the cryptocurrency community to use self-custody crypto wallets to store their cryptocurrency in a tweet.

Trust Wallet is a decentralized hot wallet, it facilitates the storage of cryptocurrency and non-fungible tokens. It functions with several blockchains. The wallet’s official token, Trust Wallet Token (TWT), enables holders to take part in choosing app features and updates.

Following this statement, TWT had a spike of more than 25% in the past 24 hours. At the time of writing, TWT is trading at $2.11.

TWT daily chart. Source: Coincu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.