Episode notes
A reported $6.4 billion Binance security breach has reignited one of Bitcoin’s oldest debates: who should actually hold your keys?
In this episode, we break down what happened, how such a massive exchange can still become a target, the hidden counterparty risks inside custodial platforms, and why “not your keys, not your coins” remains one of the most important lessons in Bitcoin.
We also explore hot wallets, backend infrastructure, automation risks, stablecoin freezes, self-custody trade-offs, and why even the biggest platforms in the world are never completely immune from failure.
If the largest exchanges can still be compromised, what does real security actually look like?
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