HomeBlockchainKeeping your funds safe for over a decade | by Peter Smith...

Keeping your funds safe for over a decade | by Peter Smith | @blockchain | Nov, 2022

- Advertisement -


For more than a decade, we’ve managed funds on behalf of over 38 million verified customers across the globe, building infrastructure, managing risk, and building non-custodial wallets that empower people to custody their own crypto.

Here are some key ways we’ve kept your crypto safe:

No exposure to Alameda Research and non-material exposure to FTX

We were not materially exposed to Alameda, FTX, FTT or the affected parties from the fallout of last week. Our robust risk management practices regularly evaluate counterparty risk and reduce exposure to anything that does not meet our high bar of due diligence.

Healthy reserves and a strong capital base
With a strong capital base, cash positions, and liquidity reserves, we remain rock-solid for our customers, clients and the industry. We proactively shared our revenue last year, which was $1.5 billion.

Segregated customer assets held 1:1
Our customer crypto and fiat are segregated from the business assets, primarily in cold storage. We also hold a 1:1 ratio of funds at all times, meaning for every customer asset, we hold an equal amount in reserves. Your funds are available when you need them.

We’re a fully-licensed entity in the US, EU, and the Cayman Islands
While not widely known, responsible crypto firms are regulated. We proudly are a fully-licensed entity in the U.S. with state regulators as a money transmitter as well as with FinCEN as a money service business, at our U.S. subsidiary level. We hold money transmitter licenses in every state in which we do business where such licenses are required.

We are registered in Lithuania, which applies EU law, and have applications pending for licenses in numerous other countries in Europe.

Your keys, your crypto
We make it easy to move funds from our custody into yours through our non-custodial Private Key Wallet. We’ve always believed that if you don’t hold your private keys, then you don’t control your crypto. That ethos is why we’ve become one of the world’s largest providers of non-custodial wallets (85 million and counting). The single best choice you can make is to hold your own crypto, on your own keys.

Best-in-class security and compliance

We offer peace of mind with best-in-class security to keep funds safe. Our world class security team oversees ultra-secure offline funds (95% of our funds are stored in cold storage).We also proudly hold SOC2 Type 1 certificate, an industry-leading compliance standard that attests to the quality of an organization’s customer data management practices.

Sound governance
We take corporate governance, regulations, and compliance seriously. We have a world class Board of Directors, with Independent Directors who have deep business and regulatory experience. In addition, our CFO and CCO handle the responsibility of accurate filings.



Read orginal here

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 17,138.04
ethereum
Ethereum (ETH) $ 1,287.91
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 111.89
litecoin
Litecoin (LTC) $ 77.40
eos
EOS (EOS) $ 0.939887
okb
OKB (OKB) $ 21.71
tezos
Tezos (XTZ) $ 1.01
leo-token
LEO Token (LEO) $ 3.89
cardano
Cardano (ADA) $ 0.319118
monero
Monero (XMR) $ 142.46
stellar
Stellar (XLM) $ 0.088994
chainlink
Chainlink (LINK) $ 7.58
huobi-token
Huobi (HT) $ 6.69
tron
TRON (TRX) $ 0.054832
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 45.38
neo
NEO (NEO) $ 6.91
iota
IOTA (MIOTA) $ 0.214178
nem
NEM (XEM) $ 0.033113
zcash
Zcash (ZEC) $ 45.15
maker
Maker (MKR) $ 653.95
paxos-standard
Pax Dollar (USDP) $ 0.999801
ethereum-classic
Ethereum Classic (ETC) $ 20.12
vechain
VeChain (VET) $ 0.019156
true-usd
TrueUSD (TUSD) $ 1.00
kucoin-shares
KuCoin (KCS) $ 6.71
waves
Waves (WAVES) $ 2.36