Crypto Wallet SafePal Registers Record Sign-Ups Post FTX Bankruptcy

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Jeff Horseman
Jeff Horseman
Jeff Horseman got into journalism because he liked to write and stunk at math. He grew up in Vermont and he honed his interviewing skills as a supermarket cashier by asking Bernie Sanders “Paper or plastic?” After graduating from Syracuse University in 1999, Jeff began his journalistic odyssey at The Watertown Daily Times in upstate New York, where he impressed then-U.S. Senate candidate Hillary Clinton so much she called him “John” at the end of an interview. From there, he went to Annapolis, Maryland, where he covered city, county and state government at The Capital newspaper. Today, Jeff writes about anything and everything. Along the way, Jeff has covered wildfires, a tropical storm, 9/11 and the Dec. 2 terror attack in San Bernardino. If you have a question or story idea about politics or the inner workings of government, please let Jeff know. He’ll do his best to answer, even if it involves a little math.

In the aftermath of FTX’s bankruptcy, SafePal, the Binance-backed decentralized wallet brand with software, hardware, and extension wallet products, has announced record levels of new customers. Since November 11, the platform has seen a 10x surge in traffic, and over the same time, SafePal’s web3 hardware wallet has had record-breaking sales. Binance served as the fundraising round’s lead for SafePal in 2018.

Users of cryptocurrencies have flocked to non-custodial storage options during the last two weeks. The significance of self-custody has been made clear by this occurrence. One such option is SafePal, a decentralized wallet company founded in 2018 that focuses on security and user experience.

Veronica Wong, CEO of SafePal, said:

“The recent FTX situation has taught the industry an important lesson about decentralisation and transparency. As more people realise the importance of taking full control of their assets, SafePal will become one of the major web3 gateways for the crypto masses.”

The increase in new customers at SafePal is indicative of a broader trend among crypto owners to seek non-custodial solutions that reduce counterparty risk. Over the past six months, there have been more than 7 million users, representing users from more than 196 countries.

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