So crypto can be seized and wallets broken into. I thought it was supposed to be secure. Honestly this is why I've stayed away from it all this time. I know next to nothing about crypto but I do know this.
That because you have to make the distinction between self custody and custody wallets. Any third party holding the seed phrase is liable to cooperate with seizures and forfeitures.
Some people used central exchanges. And wonder how the hell they lose access to their money.
Self custody cannot be seized. Unless of course you have your seed phrase lying around.
There is one contingency I did not mention, and it has to do with NFT's, non fungible tokens.
Certain criminals sens out an nft into a self custody web3 wallet ( all kinds of tokens running om EVM: Ethereum virtual machine) . When the recipient is not careful, he/she may unwittingly agree to a smart contract that allows the criminal to sweep the wallet contents.
Such things could also be leveraged against any State actor.
People want it to collapse. In the mean time it will continue to get weaker. That is part of The Plan.
A weakened U.S. dollar primarily increases the cost of imported goods, fueling domestic inflation. However, it also makes American exports more competitive internationally. The resulting domestic consequences are multi-faceted, affecting everything from grocery prices to the manufacturing sector.
Some factions within the MAGA movement champion the decline of the U.S. dollar because they view its global reserve status as a "hidden tax" that hollowed out American manufacturing. They believe a weaker currency will boost exports, reduce trade deficits, and bring factory jobs back to the American heartland.
Donald Trump and J.D. Vance champion a weaker U.S. dollar primarily because it makes American-made goods cheaper and more competitive in foreign markets, directly serving the movement's goal to rebalance global trade and reduce trade deficits.
Think of it as: if you put dollars in a bank account, those dollars can be seized.
Crypto wallets on central exchanges can be seized. It happens all the time, everywhere.
That is why banks love to custody your crypto. There is really no business case for them here. Why?
Enter self custody wallets.
For instance, if you were to use cake wallet, a so called self custody wallet, there is only one way to seize the content of it: that when the holder of the seed phrase /key hands it over.
Think of Ros Ulbright. He gave some keys, but not all. Also see the story of Bitcoin Jesus.
In other words, the topline here is: not your keys, not your money.
Currently, is is possible to have self custody IBAN accounts, self custody visa card accounts, self custody btc, user, usdc, fuss, zano, erg, accounts.
And if you really want to play nice, you go with zano, zwc, bch, xrm.
In effect,. You could have 10000 wallets with a 1000 in there. If you need to pay for goods and services, you could Simply transfer the seed phrase instead of money.
Just like you could handover your physical wallet, and say: here's a thousand.
Again, in crypto world there is only one word: self-custody. Anything else is crap.
Washington's economic war on Iran and its 'shadow' banking network continues, as on Friday Treasury Secretary Scott Bessent announced the US has seized $1 billion in Iranian cryptocurrency assets as part of the economic component of President Trump's Operation Epic Fury.
The billion dollar figure represents the running total seized to date, building on prior milestones in the conflict, particularly a recent major April 2026 freeze of $344 million in USDT on the Tron blockchain. By close of April, $500 million total had been seized.
And so clearly with the addition since then of some half-billion dollars more in seized digital assets, the US Treasury program has only greatly accelerated in the last several weeks.
During his Friday speech before the Reagan National Economic Forum, Bessent stated:
"Just outright grabbed the wallets. Some of them may be typing in right now and might not realize their wallet had been grabbed."
Assets are held "on behalf of the Iranian people" - he described, while framing that the Iranian government had 'stolen' the money from the Iranian populace.
So just like your stocks on the brokerage. You dont own them, you have an iou. Im considering selling all my iou stocks in ira and buying vaulted gold.
So crypto can be seized and wallets broken into. I thought it was supposed to be secure. Honestly this is why I've stayed away from it all this time. I know next to nothing about crypto but I do know this.
Came here to say exactly this. I love Scott Bessent, but this raised alarm hackles. No thank you to crypto. I still like cash.
The crypto was on a public exchange which is like having your money in a bank and not your own safe.
Not your keys, not your crypto.
Super simple stuff.
That because you have to make the distinction between self custody and custody wallets. Any third party holding the seed phrase is liable to cooperate with seizures and forfeitures.
Some people used central exchanges. And wonder how the hell they lose access to their money.
Self custody cannot be seized. Unless of course you have your seed phrase lying around.
I shouldn't spout off about things I don't entirely understand.
There is one contingency I did not mention, and it has to do with NFT's, non fungible tokens.
Certain criminals sens out an nft into a self custody web3 wallet ( all kinds of tokens running om EVM: Ethereum virtual machine) . When the recipient is not careful, he/she may unwittingly agree to a smart contract that allows the criminal to sweep the wallet contents.
Such things could also be leveraged against any State actor.
Put your stuff in a shoe box under your bed. With you on the bed & your pew pew, it will be safer! 🤣
Use more cash! Cash must not die.
People want it to collapse. In the mean time it will continue to get weaker. That is part of The Plan.
A weakened U.S. dollar primarily increases the cost of imported goods, fueling domestic inflation. However, it also makes American exports more competitive internationally. The resulting domestic consequences are multi-faceted, affecting everything from grocery prices to the manufacturing sector.
Some factions within the MAGA movement champion the decline of the U.S. dollar because they view its global reserve status as a "hidden tax" that hollowed out American manufacturing. They believe a weaker currency will boost exports, reduce trade deficits, and bring factory jobs back to the American heartland.
Donald Trump and J.D. Vance champion a weaker U.S. dollar primarily because it makes American-made goods cheaper and more competitive in foreign markets, directly serving the movement's goal to rebalance global trade and reduce trade deficits.
The crypto was on a public exchange which is like having your money in a bank and not your own safe.
Not your keys, not your crypto.
Super simple stuff.
Central exchange wallets, fren.
Think of it as: if you put dollars in a bank account, those dollars can be seized.
Crypto wallets on central exchanges can be seized. It happens all the time, everywhere.
That is why banks love to custody your crypto. There is really no business case for them here. Why?
Enter self custody wallets.
For instance, if you were to use cake wallet, a so called self custody wallet, there is only one way to seize the content of it: that when the holder of the seed phrase /key hands it over.
Think of Ros Ulbright. He gave some keys, but not all. Also see the story of Bitcoin Jesus.
In other words, the topline here is: not your keys, not your money.
Currently, is is possible to have self custody IBAN accounts, self custody visa card accounts, self custody btc, user, usdc, fuss, zano, erg, accounts.
And if you really want to play nice, you go with zano, zwc, bch, xrm.
In effect,. You could have 10000 wallets with a 1000 in there. If you need to pay for goods and services, you could Simply transfer the seed phrase instead of money.
Just like you could handover your physical wallet, and say: here's a thousand.
Again, in crypto world there is only one word: self-custody. Anything else is crap.
Thanks, I'm good.
Exactly
Washington's economic war on Iran and its 'shadow' banking network continues, as on Friday Treasury Secretary Scott Bessent announced the US has seized $1 billion in Iranian cryptocurrency assets as part of the economic component of President Trump's Operation Epic Fury.
The billion dollar figure represents the running total seized to date, building on prior milestones in the conflict, particularly a recent major April 2026 freeze of $344 million in USDT on the Tron blockchain. By close of April, $500 million total had been seized.
And so clearly with the addition since then of some half-billion dollars more in seized digital assets, the US Treasury program has only greatly accelerated in the last several weeks.
During his Friday speech before the Reagan National Economic Forum, Bessent stated:
"Just outright grabbed the wallets. Some of them may be typing in right now and might not realize their wallet had been grabbed."
Assets are held "on behalf of the Iranian people" - he described, while framing that the Iranian government had 'stolen' the money from the Iranian populace.
So just like your stocks on the brokerage. You dont own them, you have an iou. Im considering selling all my iou stocks in ira and buying vaulted gold.