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

[PVequalNRT]

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.

CZ has done a lot of things during the early days. He is Bitcoin guy but I think after the Binance and US prison, it didn't end well and since then, everything he post has always been selfish post. He has been trying to get Binance to the top but I see the exchange failing and it's paining him that he can't reverse the role of the exchange CEO.

I read recently how the company is sent out of UAE, it's affecting their business, I don't know how it didn't end well but I'm sure there is one exchange that will take over and that may be his fear, he is doing everything to secure Binance.

[Justbillywitt]

Edited out

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.

Well I don’t know your resentments towards CZ that’s making you sound this way about him. As for me he’s a man that I hold in high esteem. You can’t take this away from him, as far as the crypto industry is concerned today, CZ is an icon.

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?

He don’t need to care about me, he is just doing his business and every business person will promote their brand when they have the opportunity. He said if you can keep your assets safe on your own, use a noncustodial wallets, but he suggested Trust Wallet as his personal recommendation. That doesn’t mean you must use Trust Wallet.

I believe he was just passing a message, and used the opportunity to promote brands he has interests in.
I will never encourage anyone to store their assets in a cex, but I understand what CZ tweet was all about and I won’t crucify him for promoting his preferred brands.

[promise444c5]

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.

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.

I’m not saying trust wallet is a good wallet.. but  What exactly do you want him to say apart from Trustwallet since you know Binance owns it and CZ is also a CEO? Electrum? .

It’s a self-custody wallet even though it’s not fully open source but how many people really care about that? If they do then they need to take the job of doing their own research seriously before depositing any money on it ..

That’s why you shouldn’t believe anything you see online..

[Comeacross]

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

Yeah we know he's not neutral but I don't expect businessman who's ready to protect his interests at any given opportunity to be neutral. You will do the same thing if you should be in his shoes.

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.

No, that is not deception. Trust wallet is not a good recommendation thou but it is technically a self custody wallet going by literal definition of self custody.

Any wallet tied to CEX is not advisable. CZ has a share in trust wallet, he's simply marketing his product ahead of other secured options.

[MisFoxie]

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.

Looks like he is promoting his own products. I know trust wallet is close source still I use it because to show something as example or quick transection,  It's easy to use so it's probably a good option for beginners. I would never recommend anyone to use trust wallet as a cold storage.

While wallets are designed to protect seed phrase majority of protection comes from device itself if a device is compromised seed phrase can also get exposed.

[FinneysTrueVision]

It was obviously intended to be an advertisement for products in which he has a stake in. He could care less about BitMart and its users. He is more interested in how he can use the moment to try to make a quick buck.

Some people even believe that Binance played a direct role in what’s happening to these exchanges by causing the market to crash with their manipulation. I don’t know if CZ is really that kind of super villain, but I do know he’s not somebody I trust in giving advice on choosing a wallet.

[ABCbits]

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

While distribution of other wallet (including open sources ones) also hacked in past, it's worth to mention their browser extension was hacked that led to $7 million loss.

CZ has done a lot of things during the early days. He is Bitcoin guy but I think after the Binance and US prison, it didn't end well and since then, everything he post has always been selfish post. He has been trying to get Binance to the top but I see the exchange failing and it's paining him that he can't reverse the role of the exchange CEO.

I believe he already selfish, even before he got arrested. For example, he state he want to rollback Bitcoin blockchain after Bitcoin from Binance got stolen.

[Alpha Marine]

Well I don’t know your resentments towards CZ that’s making you sound this way about him. As for me he’s a man that I hold in high esteem. You can’t take this away from him, as far as the crypto industry is concerned today, CZ is an icon.

I never said he was not an icon. And I never said I hold any resentment towards him. My point was, reputation is something that can be repaired. CZ is one person who should have a bad reputation with the kind of things he has been in, but somehow he still has a stellar reputation. We can spend all day talking about his various shady practises from his time as CEO of Binance, to facilitating transactions of terrorist organisations, to his time in jail. Even after the jail time, his involvement with Trump and politics and presidential pardon and what he did for Trump as payment and all, but that is not my point.

My point is, you can't use the "he wouldn't tell us to use bad services because he doesn't want to run his reputation" as a lazy way to look at things.
People used that when top celebrities were launching memecoins, and those coins turned out to be scams, and nothing happened to the reputation of those celebrities. That is the world we live in. I mean, Trump has his reputation because the president of America, not once, but twice, so I don't think using the fact that a person's reputation is on the line means he won't lie to you is a smart move.

[Catenaccio]

I’m not saying trust wallet is a good wallet.. but  What exactly do you want him to say apart from Trustwallet since you know Binance owns it and CZ is also a CEO? Electrum? .

It’s a self-custody wallet even though it’s not fully open source but how many people really care about that? If they do then they need to take the job of doing their own research seriously before depositing any money on it ..

He or any exchange CEO or any influencer can say anything but people must be careful and double check information. It's risky to automatically believe in anyone. Don't trust, verify.

With Trust wallet, CZ shilled it, ok, people must verify this information like whether Trust is a good wallet with two conditions: open source, non custodial.
Checking and easily knowing that Trust wallet is not open source.
https://walletscrutiny.com/mobile/com.wallet.crypto.trustapp/

That’s why you shouldn’t believe anything you see online..

That's what I wanted to create this thread for.

While distribution of other wallet (including open sources ones) also hacked in past, it's worth to mention their browser extension was hacked that led to $7 million loss.

Thank you. I knew it but forgot to mention about the hack that happened months ago.
Trust Wallet confirmed 2,596 affected wallets in the $7M hack.

[retreat]

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

How could he be neutral when he owns a business? His views would undoubtedly lean more toward his own financial interests. I don't want to blame him, as both platforms are his, so it's his right to market them to his followers.

However, his opinions should be viewed with more scrutiny, as that advice is clearly misleading. Since there's not really a difference between Binance and Bitmart (and other bankrupt exchanges). It's just that Binance might currently be one of the major players in the market and is doing well. But we don’t know what’s really going on within their platforms or what might happen in the future – even the largest exchanges can face unexpected challenges, just like FTX did in the past.

So what he said shouldn't be taken as advice. It's more of the usual bullshit from people on Twitter. Just stick to self-custody with the more recommended wallets (Blue Wallet, Electrum, etc.).