Pascal Gauthier, the CEO of Ledger, a French company specializing in cryptocurrency storage, returned to the consequences of the FTX platform’s bankruptcy. A scam that could make it possible to “get back to basics”.
“It is above all fraud, above all it is theft”, recalled Pascal Gauthier, that CEO of Ledger, a global leader in cryptocurrency storage and custody. Guest of Good Evening Business, the boss of the French unicorn reaffirmed that the FTX earthquake was not symptomatic of a wider problem in the world of cryptocurrencies.
“It has nothing to do with cryptocurrency, he said, it’s just actors who have decided to steal money from others”.
And this episode could even, according to him, be the opportunity to clean up the sector. “We have returned to the basics of cryptocurrencies, bitcoin, ethereum, which is decentralization and preservation of your money”, said Pascal Gauthier.
“Good market players always advise their users to never keep their agent on the exchange and keep it themselves. And they often advise our services to do that,” he continued.
“Healthy” bankruptcies for the crypto world?
“When you trust FTX, you entrust your bitcoins to FTX, which is then its custodian”, he recalled, before specifying: “With us, we are the own owner of our cryptos, and therefore we do not depend on a trusted third party “.
In particular, Pascal Gauthier proposes to separate, as in traditional finance, the activity of protecting cryptocurrencies on the one hand and the exchange on the other.
Asked about the risk of witnessing other bankruptcies in the world of cryptocurrency, the head of Ledger mentioned a “healthy” phenomenon that will make all “bad actors” disappear. This move could also be an opportunity to “refocus on what crypto really is.”
“Crypto is not financial speculation, here we want to focus on its real applications,” he said.