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Funds are #SAFU @Binance
We do not have any single point of failure in our wallet systems or personnel structure.
System wise, we use a combination of multi-sig, threshold signatures (TSS) and other technologies with no single point of dependency.
1/5
We do not have any single point of failure in our wallet systems or personnel structure.
System wise, we use a combination of multi-sig, threshold signatures (TSS) and other technologies with no single point of dependency.
1/5
To read more about TSS, we even open-sourced our library a year ago:
2/5 https://www.binance.com/en/blog/398654406137536512/Binance-OpenSources-Threshold-Signature-Scheme-Library
2/5 https://www.binance.com/en/blog/398654406137536512/Binance-OpenSources-Threshold-Signature-Scheme-Library
Personnel wise, we have full redundancy structure that if anyone becomes unreachable, our funds are not stuck.
Even from the early days, we especially made sure funds are not "dependent on CZ", as I do travel extensively and are often in airplanes, etc.
3/5
Even from the early days, we especially made sure funds are not "dependent on CZ", as I do travel extensively and are often in airplanes, etc.
3/5
CEX and DeFi all have risks, albeit slightly different. You can read more here:
I need to update the DeFi section with rug pulls, smart contract risks, etc. But you get the idea.
4/5 https://www.binance.com/en/blog/421499824684900429/Keep-Your-Crypto-SAFU-CZs-Tips
I need to update the DeFi section with rug pulls, smart contract risks, etc. But you get the idea.
4/5 https://www.binance.com/en/blog/421499824684900429/Keep-Your-Crypto-SAFU-CZs-Tips
