Pascal Gauthier (Ledger): "Platforms should be used to buy and sell cryptos, not to hold them"

The Big Whale: FTX has just gone bankrupt in what looks like a massive scam. What's your take on the affair?

Pascal Gauthier: It's a very complicated situation because we don't yet have all the facts. What is certain is that there are many victims and that all this could have been avoided if cryptos were properly secured. That's what we've been saying for seven years at Ledger.

You have to realise that at FTX only a few people were able to access and manipulate the funds of more than a million customers. It's completely crazy. Fortunately not all exchanges work like this. When you go to Kraken, they advise you to keep your cryptos yourself.

Does this case mark the end of centralised platforms?

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