Re: UK government friezes £6million of crypto in the last 6 months.
How can someone hold that kind of money in a centralised exchange? Not to be harsh, but the person typically got what he deserved. Coinbase is one of the exchanges that can easily freeze users funds once they suspect anything or the 3-letter government agencies ask them to do it.
Even if you want to hold money in a self-custodial wallet, it shouldn't be centralised tokens/coins. The worst of it is tether; they can freeze your fund while it's in your private wallet immediately. The government asks them to do that because they are fully open to obeying and taking orders from them.
I agree with this sentiment. If you are in crypto world, you know that exchanges are not a great place to keep your money in. Not because of any governmental issue, that is rare, there are hundreds of billions in coinbase, and only a few million taken by government, a lot more is getting hacked and that is why you shouldn't keep it in exchanges. It is not as secure as keeping it yourself, it is not going to make a great return for you and you should be careful about it.Even if you want to hold money in a self-custodial wallet, it shouldn't be centralised tokens/coins. The worst of it is tether; they can freeze your fund while it's in your private wallet immediately. The government asks them to do that because they are fully open to obeying and taking orders from them.
I personally put mine into hardware wallet, that way it would not be all that scary if someone tries to get it, since it would be near impossible. I mean I don't have this much money
Wish I did, but even with a lower amount, I still keep it more secure.