The collapse of the second crypto exchange, FTX, may become one of the most traumatic episodes for the nascent asset class. However, as is often the norm in financial markets, the losses for one party implied profits for another.
According to a report from Similarweb, cold wallet and hardware wallet companies, equipment that allows users to custody their digital assets, are seeing benefits. Currently, people’s confidence in centralized exchanges (CEXs) is declining, and more users want to take control of their crypto.
The Unforeseen Consequences Of FTX’s Collapse
After the events of last week, many investors are advocating for decentralized solutions to trade digital assets, emphasizing educating users to safeguard their assets with a cold wallet. The motto on crypto social media is “not your keys, not your coins.”
In this context, organic searches for cold wallets are skyrocketing. The report from Similarweb indicates…
