SafePal faces exploding demand for wallet offerings triggered by FTX implosion

“The recent FTX situation has taught the industry an important lesson about decentralization and transparency.”


SafePal has reported record numbers of new users in the wake of FTX’s insolvency, with traffic to the platform increasing by 10x since November 11. Sales of SafePal’s web3 hardware wallet also reached record highs during the same period. Over the last 6 months, the number of users exceeds 7 million, covering users from more than 196 countries.

The decentralized wallet brand includes software/hardware/extension wallet offerings and is backed by Binance since a founding round in 2018 led by the world’s largest crypto exchange and former rival of the collapsed FTX.

Since the spectacular implosion of Sam Bankman-Fried’s centralized exchange, the digital asset space has seen cryptocurrency users flocking to non-custodial solutions for storing their coins.

“FTX situation has taught the industry an important lesson”

Veronica Wong, Chief Executive Officer at SafePal, said: “The recent FTX situation has taught the industry an important lesson about decentralization and transparency. As more people realize the importance of taking full control of their assets, SafePal will become one of the major web3 gateways for the crypto masses.”

The importance of self custody is now quite clear and SafePal happens to be one of the solutions providers of non-custodial storage. The  decentralized wallet brand was founded in 2018 to provide security and user experience.

The influx of new users mirrors a broader trend for cryptocurrency holders to favor non-custodial solutions that helps minimize counterparty risk.

SafePal is a crypto management platform that supports 15 languages and 54 blockchains and allows users to store, manage, swap, and trade their crypto assets.

Its more than 7 million users across the globe have access to SafePal’s hardware wallets, software wallets, and browser extension wallet product lines.

Binance launches free online courses on blockchain

Binance, a leading investor in SafePal, has recently launched free online courses to bring millions of people into blockchain, cryptocurrency and web3, with the first course ‘Blockchain Fundamentals’ consisting of six modules for beginners.

The beginners’ course is designed for anyone interested in learning the basics from blockchain, cryptocurrency, decentralization, Web3 and the metaverse, to crypto trading and investing strategies. Available in English on Binance Academy, ‘Blockchain Fundamentals’ will soon be followed by more advanced courses and more available languages.

The remaining five modules will be launched over the next few months. Learners who complete the course will be eligible to receive NFT certificates.

Binance Academy has plans to release courses for intermediate and advanced learners in the future and it will also launch professional certificate courses to help learners advance careers in the blockchain and Web3 space.