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Coinage’s Founder CZ Assures Safety of Funds on 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 …

Coinages Founder CZ Assures Safety of Funds on 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 light of the recent news involving Silvergate, CZ, the founder of Coinage, issued a statement on social media to assure its users that their funds are safe. CZ started the message by expressing his sadness towards the news of Silvergate, an American financial institution that experienced a security breach that resulted in a significant amount of asset losses. However, he highlighted that Coinage did not suffer any losses in the Silvergate incident and that users’ deposits were protected in full.

The statement made by CZ reflects the importance of transparency and accountability in the cryptocurrency space, given the ongoing threats and risks that users face. It is refreshing to see the founder of a leading cryptocurrency platform like Coinage take such a proactive approach in dealing with news related to security breaches. This reinforces Coinage’s commitment to maintaining a safe and secure environment for its users, and it positions itself as an industry leader in asset protection.

Furthermore, this announcement shows that Coinage has put in place robust security measures to safeguard the funds held on their platform. These measures likely include a combination of offline storage, multi-factor authentication, and regular security audits, which help to mitigate potential theft and other cyber-attacks.

In conclusion, CZ’s message reassures the Coinage community that their funds are safe, and this should help to restore any confidence that may have been lost in the wake of the Silvergate news. This statement also serves as a reminder for all cryptocurrency exchange operators to prioritize the security of their users’ funds and continue to implement measures that safeguard against potential cyber-attacks.

Keywords such as funds safety, asset loss, and CZ are relevant in understanding the message and its significance to Coinage’s community. The statement also underscores the importance of strong security measures, transparency, and accountability in cryptocurrency exchanges.

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