Just sharing the state of my crypto portfolio. Cryptocurrencies currently accounts for less than 1% of whatever assets I still have after the Terra Luna and Hodlnaut collapse. I cashed out the surviving stable coins right after those incidents, and will continue to hold the remaining:
- BTC (40%)
- ETH (45%)
- CRO/Others (15%)
I used to have some BAT, but due to the FTX incident, it has impacted Genesis and as a result, I doubt I will be getting back those, along with some BTC and ETH. The FTX incident is really bad and it gets uglier as more and more details are revealed. In my opinion, the fundamentals of crypto/block chain technology are still sound, and in FTX case, the issues are more related to governance and regulatory of exchanges and investment companies. Crypto is just a tool, it is the intent of the person or organization which makes it useful or harmful.
There are some of the things that I should have done but neglected to.
- Stop using Earn features in centralized exchanges. If I had not been lazy, I won’t have lost the crypto parked with Genesis.
- Transfer crypto assets from centralized exchanges to non custodial wallets (i.e. Metamask).
It would be safer to store crypto assets in non custodial wallets in case of another FTX event, just don’t forget or lose the security keys. That is how storing of cryptocurrency and assets is supposed to be in the first place and also decentralization.
Stay safe and stay strong everyone!