### "Self-custody is a fundamental human right," says Binance CEO.

Binance CEO Changpeng “CZ” Zhao said that “self-custody is a fundamental human right,” encouraging crypto users to take control of their digital assets using Trust Wallet. 

<blockquote class="twitter-tweet" data-conversation="none"><p lang="en" dir="ltr">Self custody is a fundamental human right.<br/>You are free to do it at any time.<br/>Just make sure you do do it right.<br/>Recommend start with small amounts to learn the tech/tools first.<br/>Mistakes here can be very costly.<br/>Stay <a href="https://twitter.com/hashtag/SAFU?src=hash&amp;ref_src=twsrc%5Etfw">#SAFU</a></p>&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1591769091274117122?ref_src=twsrc%5Etfw">November 13, 2022</a></blockquote>  


Following Zhao’s tweet, Binance’s native token Trust Wallet Token (TWT) soared to a record high. It recorded an 80% rise in the past 24 hours to reach $2.3, says data source Messari.


Trust Wallet is a decentralized hot wallet or a wallet that is connected to the internet and crypto network. Binance acquired it in 2018. It is compatible with other blockchains. As the wallet’s official token, TWT allows holders to participate in decision-making regarding app features and updates. 


This push for self-custody comes at the heels of FTX’s collapse and alleged hacking, which resulted in a loss of $600 million worth of coins from its wallets. 


Since news of FTX’s situation was reported, there is a notable increase in investors moving coins off exchanges. According to reports, Binance had a net outflow of more than $72 million today. It is certainly not alone. Huobi and Crypt.com saw outflows of $12.7 and $7.3 million respectively.


Glassnode also shows that bitcoin's exchange withdrawals have increased, showing that investors are starting to prefer self-custody. Zhao said that Trust Wallet facilitates just that. In another tweet, he said, "@TrustWallet your keys, your coins."

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">.<a href="https://twitter.com/TrustWallet?ref_src=twsrc%5Etfw">@TrustWallet</a> your keys, your coins. <a href="https://t.co/pJUc26kQ7n">https://t.co/pJUc26kQ7n</a></p>&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1591804109224550401?ref_src=twsrc%5Etfw">November 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

"Self-custody is a fundamental human right," says Binance CEO.

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Mon Nov 14 2022 Binance CEO Zhao Says “Self-Custody is a fundamental human right”; Trust Wallet Token Soars by 80%

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Prototype Global Cryptoasset Mapping System Developed

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Mon Nov 14 2022

Binance CEO Zhao Says “Self-Custody is a fundamental human right”; Trust Wallet Token Soars by 80%