Changpeng Zhao, also known as CZ, shared a brief message on X stating “tough times (again)” while advising the public to practice self-custody. The Binance founder openly urged investors to hold their own seed phrases, provided they truly know how to secure them. The post quickly drew attention, garnering 2,743 likes and 199 retweets as tracked by @WatcherGuru, an account with 4.5 million followers.
The message comes as no surprise as the crypto market bears heavy pressure. Bitcoin remains pinned below the average purchase price of Strategy, while the Nasdaq stock index touched an 11-week low amid panic selling across the artificial intelligence (AI) sector. This wave of macro sentiment quickly spilled over into crypto investment products.
Institutional Inflow Streaks Snapped in Tandem
On Wall Street’s institutional trading floors, a clean streak of green suddenly collapsed. Spot Bitcoin ETF products recorded $240.08 million in outflows on Friday. This snapped a seven-day streak of consecutive inflows that had just wrapped up the previous Thursday.
Similar pressure hit Ethereum ETF products. The ETFs posted a daily outflow of $70.62 million on Friday, July 25, ending a five-day inflow streak. While this daily figure weighed on short-term sentiment, it has not erased the broader monthly gains. Ethereum ETFs still secured $103.9 million in weekly inflows, bringing total July inflows to $337.74 million.
Why the Self-Custody Advice Is Relevant
CZ’s self-custody warning coincided with the collapse of another crypto trading platform. BitMart exchange recently announced a full operational shutdown. They scheduled trading activities to cease on August 26 and a complete shutdown by January 31, 2027. The impact was immediate: its native ecosystem token, BMX, plunged between 55% and 63% shortly after the announcement was shared.
On another front, Strategy’s central figure Michael Saylor responded to the price slump with a buying signal. He posted a cryptic message stating “We’re gonna need another color”, a hint widely interpreted by the public as a plan by his company to buy additional Bitcoin and capitalize on the depressed market conditions.
The actions of both figures summarize the market landscape this weekend. While major entities prepare to buy the dip, CZ’s reminder brings the focus back to retail investors. The call to hold one’s own seed phrase reinforces a fundamental crypto principle: amidst collapsing exchanges and ETF capital flight, true asset security is determined by who holds the keys.
Reported via @WatcherGuru on X.
Read also: How to Read Candlestick Charts for Beginners
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
