Bitcoin Family Declares That They Will Move $1M in Crypto to Decentralized Exchanges Following FTX Collapse

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Didi Taihuttu, a Dutch native, and his family sold their home and all their valuable belongings to buy bitcoin in October 2017. The Taihuttu family was able to travel all over the globe and recently moved to Phuket. CNBC’s Didi Taihuttu, 44, said that the Dutch family had stored crypto for years in cold storage, centralized trading platforms (cex) platforms and decentralized exchange protocols (dex). The Dutch family decided to transfer $1 million in digital assets to dex protocols to increase their control via self-custody.
Didi Taihuttu’s Family Takes Proactive Steps to Protect Their Crypto Assets
Bitcoin.com News first reported on the Taihuttu family five years ago. They had sold their home, children’s toys and vehicles to accumulate bitcoin (BTC) in order to do so. Didi Taihuttu the patriarch of the family spoke to CNBC on Wednesday and said that the family has moved $1 million in crypto assets in order to dex protocol following the FTX crash.

Taihuttu explained that the family had previously stored a fraction on trading platforms like Kraken and Bybit before they decided to move the funds from cex platforms into dex protocols. Taihuttu stated that if you don’t send your bitcoins to an exchange, your bitcoin will remain in your wallet. This means you have full custody of your coins. You can connect to a dex and trade from your wallet by making that connection.
Taihuttu remained:
It doesn’t matter if the dex falls, as the bitcoins will always be in your wallet.
Taihuttu said that he learned his lesson when Cryptopia, a cex platform, was hacked in 2017. He lost four bitcoins. Taihuttu stated that he was always looking for alternative options since that time. Taihuttu said that FTX was not a good idea because “too many influencers were being paid too much to promote it.” However, the family did disclose that they had approximately $1 million worth of BTC and ETH. They also stated that other tokens would be transferred to decentralized exchanges.

Taihuttu said that the drama surrounding FTX is very similar to what happens in every bitcoin cycle. “We seem to learn that lesson every bitcoin cycle. “It was Mt Gox. It was banning bitcoins in China, it wasn’t banning mining. He said that there is always drama. Taihuttu believes that BTC is holding steady and doing what the top crypto asset does every day.
Taihuttu stated to CNBC that “Looking at the present situation: We have a war going on. We have a financial crisis. We have FTX. Celsius. There are a lot bear market signals.” “I believe bitcoin is holding firm at $16,800. “Bitcoin is still doing perfectly and doing what it always has: Being a decentralized currency that can be used by everyone all over the globe,” Taihuttu stated during Wednesday’s interview.
What do you think of the Taihuttu family’s progress? How did the family move $1 million from cex applications into dex protocols? Please share your thoughts on this topic in the comments section below.