CZ gave advice but he seemed to advertise Binance and Trust wallet.

[Catenaccio]

It is a tweet of Changpeng Zao aka CZ.
https://x.com/cz_binance/status/2081316675383910587

Tough times (again)! At least, it appears to be an orderly wind down where users can withdraw their assets.

Pro tip:

Self custody if you know how to keep your seedphrase safe (@trustwallet)

Or use the largest exchange (@binance) with staying power.

It is his post a reply to an announcement of Bitmart exchange closure.
https://x.com/BitMartExchange/status/2081197305491845201

Firstly, the advice to store cryptocurrency fund in non custodial wallets, with wallet seed phrase and private key control is a good advice.
Secondly, there are something bad from his advice.

Trust wallet is not a good wallet. It's close source.
See review on Trust wallet https://walletscrutiny.com/mobile/com.wallet.crypto.trustapp/

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

[Chibit01]

What he’s doing is promoting where some of his wealth comes from; he’s a businessman, and he uses every opportunity he has to market his business out there. Binance is still one of the biggest exchanges out there since it came to life. Even with their legal battles with many, they still rank high, but that does not mean one should choose a centralized exchange to store their coin; being one of the biggest still does not make it the safest. They also have a history of being hacked, just like some of the other crypto exchanges out there.

[Amphenomenon]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

I have no issue about him promoting Binance he spoke about self custody showing how these can be worse but at least Binance is still a better CEX than many.

That aside, I'm not surprised he is trying to promote Trustwallet because he has done something similar before and I think it was about him teaching or enlightening others about non custodian wallet and then he was seeing users leaving his exchange and then start finding ways to make them remain.

I hope people can see the truth and lies here, Trust wallet is not a good example of a trusted non custodian wallet, hopefully they see people like this in as much as they want to stand for truth will find a way to bend things for profits.

[TryNinja]

He’s not supposed to advise people to use his products?

If someone is looking for or talking about no KYC services, or if I want to comment on a no KYC directory closing down, of course I’m going to say: “good time to use bitlist instead!” (My website).

There is nothing shameful about that.

[Oluwa-btc]

He’s not supposed to advise people to use his products?

If someone is looking for or talking about no KYC services, or if I want to comment on a no KYC directory closing down, of course I’m going to say: “good time to use bitlist instead!” (My website).

There is nothing shameful about that.

Yeah, I believe all he did was seize the moment and carry out a swift advertisement for binance even if he has always said he is no longer part of the binance. Nothing wrong with doing a quick one for them. Well, it is the reason why people and newbies should continually do their own research.

The newbies from Bitmart and BitMex will be looking for a new bus to jump on next. This is exactly where Trust wallet, binance and the hardware wallet he mentioned deep into the comment section. However, it is over for the newbies to do due diligence. Endless possibilities in the market, too many newbies and users of Bitmart and Bitmex exchange will see the pr and jump on the new train presented. In conclusion, Self Custody the goat!

[promise444c5]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

So what you expect him to say? Everyone advertises what they have or own  whenever they get the opportunity ..

Doesn’t have to be a good or the best service, so far  they own it then he’s definitely speaking for it, it’s left to anyone reading or buying into it to do their own research..

Binance is one of the best exchange though and they own trustwallet aswell[not sure you are aware of that.. now you do ].
That’s the reason for such tweet regarding non custodial wallet.

[avp2306]

It is a tweet of Changpeng Zao aka CZ.
https://x.com/cz_binance/status/2081316675383910587

Tough times (again)! At least, it appears to be an orderly wind down where users can withdraw their assets.

Pro tip:

Self custody if you know how to keep your seedphrase safe (@trustwallet)

Or use the largest exchange (@binance) with staying power.

It is his post a reply to an announcement of Bitmart exchange closure.
https://x.com/BitMartExchange/status/2081197305491845201

Firstly, the advice to store cryptocurrency fund in non custodial wallets, with wallet seed phrase and private key control is a good advice.
Secondly, there are something bad from his advice.

Trust wallet is not a good wallet. It's close source.
See review on Trust wallet https://walletscrutiny.com/mobile/com.wallet.crypto.trustapp/

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

The advice is good towards self custody, but the defeating factor about what he said is pointing out Trust wallet since this is closed sourced which is actually risky.

I still remember those hacking incident happened with this wallet. So this is not good advice given by CZ and its so clear that they used that incident to promote this wallet and also Binance.

He maybe find good opportunity to compare those situation what happened to Bitmart, but I'm not buying it. Since what's better thing to do is to use open source wallets plus have an awareness of custodial risks.

[Die_empty]

Yeah, I believe all he did was seize the moment and carry out a swift advertisement for binance even if he has always said he is no longer part of the binance. Nothing wrong with doing a quick one for them. Well, it is the reason why people and newbies should continually do their own research.

Yeah, CZ has stepped down as the CEO of Binance. However, he still makes money from the exchange since he owns about a 90% stake in the company. You are right that he has every reason to promote his business.

He maybe find good opportunity to compare those situation what happened to Bitmart, but I'm not buying it. Since what's better thing to do is to use open source wallets plus have an awareness of custodial risks.

It not wrong to refer BitMart users to Binance since the former will wind down its operations on July 26, 2026. But deceiving people about Trust Wallet as a non-custodial wallet is where the problem lies.

[PostQuantumBTC]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

You saw what happened when Binance was not given MiCA license? OKX talked bad about Binance and some exchanges tried to gain the attention so that Binance users can use their exchange, although what happened later was kind of different.

It is called marketing and it is not against the law but I can not use Trust wallet, it is one of the wallets that I can not use because it is close source and because the wallet can be annoying for bitcoin users.

[Justbillywitt]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

I have no issue about him promoting Binance he spoke about self custody showing how these can be worse but at least Binance is still a better CEX than many.

That aside, I'm not surprised he is trying to promote Trustwallet because he has done something similar before and I think it was about him teaching or enlightening others about non custodian wallet and then he was seeing users leaving his exchange and then start finding ways to make them remain.

I hope people can see the truth and lies here, Trust wallet is not a good example of a trusted non custodian wallet, hopefully they see people like this in as much as they want to stand for truth will find a way to bend things for profits.

there are people that have used trust wallet for years, and they don’t have issues with it. I have used trust wallet in my early years in crypto, I never had any problem with it. CZ is not a newbie in the crypto space and I believe he knows what he’s doing. I don’t think he will promote anything fraud or anything that will put people’s assets in danger, knowing the impact that will have on his reputation. You might not be a fan of trust wallet, that’s okay. But trust wallet is not a bad choice entirely to store some of our assets.

[Alpha Marine]

there are people that have used trust wallet for years, and they don’t have issues with it. I have used trust wallet in my early years in crypto, I never had any problem with it. CZ is not a newbie in the crypto space and I believe he knows what he’s doing. I don’t think he will promote anything fraud or anything that will put people’s assets in danger, knowing the impact that will have on his reputation. You might not be a fan of trust wallet, that’s okay. But trust wallet is not a bad choice entirely to store some of our assets.

Reputation? Lol
I guess you still have a lot to learn. If it were by reputation, CZ wouldn't be able to show his face because his reputation should have been ruined since.

You're right about something, and that is saying "he knows what he's doing". He wouldn't be where he is if he didn't know what he's doing. He is a smart businessman. He knows what to say, when and how to say it so that people would think he cares about them. The mistake you make is thinking he cares about you. He doesn't care about you and your coins; if he did, he wouldn't ask you to keep your coins with an exchange. Or do you think it's a coincidence he mentioned companies and services that he created?

And yeah, I've used Trust Wallet before, but it was at the beginning of my journey when I didn't know better. You don't have to wait till something happens before you react.

[Somegory]

He is simply promoting Trust wallet and Binance, but I've sent my own message to him, just because he has some status doesn't mean he shouldn't he told the real fact, that Trust wallet won't do, it's also misleading beginners to start accepting cloud storage as good option.

CZ is smart and I am sure that he knows how better airgapped hardware wallet can be over his nonsense Trust wallet, even unstoppable wallet and Electrum wallet are way better than Trust wallet, but those aren't his products so he would rather keep the truth and shill his own.

No matter how bad someone's product can be for the masses they will promote them anyways, it's on users to do their diligent research first before choosing, trust wallet isn't one of them reliable wallets anymore for more.

[tech30338]

No matther what they say or what they thouvht us its still boils down to what we really want to use like using non custodial wallet , if he advertise other wallets if we dont like it its okay, and for me im not going to use trust wallet as there are issue that i encounter before, advertising is really accompanied with it maybe he partnered with trust wallet.

[Webutxo]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

You saw what happened when Binance was not given MiCA license? OKX talked bad about Binance and some exchanges tried to gain the attention so that Binance users can use their exchange, although what happened later was kind of different.

It is called marketing and it is not against the law but I can not use Trust wallet, it is one of the wallets that I can not use because it is close source and because the wallet can be annoying for bitcoin users.

I don't see anything bad in what he says anyways, we know he will advocate for his business and seeing a competitor failed in the business, he will tell want his business to continue which is why he is telling everyone to use Binance products. This is not bad but the problem is the people that are running from Bitmex to Binance, what is going to happen to crypto if the Binance exchanges decided to exit the market like Bitmex. It's unlikely but very possible.

This companies are the building block of crypto, they are the number one reason why we have liquidity, in fact the crypto liquidity is on those exchanges, this exit of the market is really scary. We don't know which of them that are suffering inside but has not made any public announcement. There are many projects that I have seen in a list that has closed down recently and all of them are as a result of liquidity, it's getting out of hand.

[fighter2627]

No matther what they say or what they thouvht us its still boils down to what we really want to use like using non custodial wallet , if he advertise other wallets if we dont like it its okay, and for me im not going to use trust wallet as there are issue that i encounter before, advertising is really accompanied with it maybe he partnered with trust wallet.

You are right in what you said Sir because whatever he said, it is still up to us as communities whether we will do or follow his method of promotion, after all, the final decision
on a matter like this is still in our hands.

And like you, I have also read about issues here with the trust wallet, although I have been in this crypto industry for a short period of time but Trust wallet have not escaped the issues that have caused the crypto community to be even more vigilant in this kind of situation.

[acroman08]

Promoting Binance by the closure of Bitmart and BitMEX is not a neutral advice at all.

He doesn't have to be neutral, and I think both of his advice were fine(not necessarily the Trust Wallet advertisement). I mean, he wants people to use non-custodial wallets, or use one of the most reputable exchange sites out there. Him advertising Binance isn't really an issue, he still owns the largest share in Binance, and he wants new users to use his platform, and he took advantage of the fact that Bitmart is closing and people need to find a new exchange site they can use. It is a common marketing strategy.

[Jubilee58]

It is a regular post here for bitcoin investors to abstain from the use of cryptocurrency exchange as a way of securing their bitcoin investment. But I think, apart from keeping your bitcoin, their are other things one can use exchanges to do. I wouldn't advice anyone to store his bitcoin in Binance exchange, but I also think there is nothing wrong if CZ is promoting his on exchange because if Binance fail today, his own company has also failed.
But for those who have reasons to use an exchange, I would still recommend large exchange like Binance, but not for asset storage.

[Aanuoluwatofunmi]

It surprises me seeing people believing and acting strictly by what some of this public figures are saying about cryptocurrency and they take the same ideology into practice, that we hear of CZ talking about something or suggesting an idea does not make it the best we should take, remember they could be doing so just to also attract more recognition for their platforms, instead we can choose to depend on reliable information about which wallet is best for our privacy and security use from this forum.

[Catenaccio]

I have no issue about him promoting Binance he spoke about self custody showing how these can be worse but at least Binance is still a better CEX than many.

Yes, I agree with you on this.

He’s not supposed to advise people to use his products?

There is nothing shameful about that.

It's not shameful but his post is partially good and not good. Good because Binance is better than many other exchanges, but Trust wallet is worse than many other non custodial wallets, it's close source.

So what you expect him to say? Everyone advertises what they have or own  whenever they get the opportunity ..

Binance is one of the best exchange though and they own trustwallet aswell[not sure you are aware of that.. now you do ].
That’s the reason for such tweet regarding non custodial wallet.

Yes I knew Binance acquired Trust wallet years ago.
The acquired it in July 2018.

The advice is good towards self custody, but the defeating factor about what he said is pointing out Trust wallet since this is closed sourced which is actually risky.

Yes, he intentionally did not tell people that Trust wallet is close source.

[Marykeller]

All these are for the marketing strategy. People will use other people's business downfall to market their own products; even when their product offers the same thing, they will still present their product as the best someone can have.

You don't blame them for that anyway because every business-minded person is in competition with those who render the same services as them. They will see other people's losses as their gain.

That be it the reason everyone should do what they know best to protect and market their business to keep it relevant and running, so that others won't use their business's downfall to market their own.

It's unfortunate for Bitmart and BitMEX to exist the crypto space in an ugly way when many are having high regard at them. Well, that's way life is, nothing stay the same forever