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Coinage’s Assurance on Asset Safety at Silvergate

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According to reports, CZ, the founder of Coinage, said in a social media message, \”I feel sad to see the news of Silvergate, but at least, they seem to return a

Coinages Assurance on Asset Safety at Silvergate

According to reports, CZ, the founder of Coinage, said in a social media message, “I feel sad to see the news of Silvergate, but at least, they seem to return all the deposits and protect users in full. Coinage has no asset loss on Silvergate. The funds are safe.”

CZ: Coin has no asset loss on Silvergate

Analysis based on this information:


In a recent statement released on social media, Coinage founder CZ expressed his sadness on receiving the news of Silvergate’s loss. However, he was relieved to mention that Coinage did not suffer any loss of assets at Silvergate. CZ asserted that all deposits were returned, and users were safeguarded in full. This statement from CZ is an indication of Coinage’s commitment to asset safety and security of user funds.

The remarks made by CZ are essential in assuring Coinage’s customer base that their assets are in safe hands. In contemporary times, funds’ protection has become a critical issue; therefore, Coinage’s position on this matter is an important statement that can become a differentiating factor between it and its competitors. CZ’s statement shows that Coinage takes a proactive approach by keeping an on-going check on its partnered exchanges’ security measures.

Furthermore, the statement also emphasizes the importance of partnerships and how these partnerships should be treated cautiously. It is crucial to work with secure and reliable exchanges to ensure financial safety. As seen in the case of Silvergate, even the most reliable exchanges are not immune to cyber attacks. Hence, it is necessary to ensure asset protection at every point of transfer to limit vulnerability to such events.

In conclusion, the statement from CZ is essential in reassuring users about Coinage’s commitment to asset safety and security. Coinage has shown that working with reliable partners and ensuring the security of deposits is a priority for the company. This announcement shows the company’s proactive approach to monitoring partnered exchanges, highlighting the importance of asset protection. With this statement, Coinage can differentiate itself among competitors that may not prioritize the protection of their users’ funds.

Hence, it is vital for every cryptocurrency platform to provide its users with such assurance regarding their funds’ security. This builds confidence in the platform and creates a loyal customer base, which is critical in the crypto marketplace.

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