Cobra, who was concerned with self-custody issues for a long time, assessed that now, more than ever, self-custody had become a contentious point, as threat actors have a vast array of resources to attack security weaknesses in custody systems.

He alerted about a continued downtrend in bitcoin prices in October, stressing that the upcoming period would be the “most painful winter” given the current cybersecurity landscape as AI outpaces crypto defense systems. At the time, he assessed that many people would get drained and lose their BTC.

Similarly, he acknowledged that the market has been taken over by institutional investors such as Stratregy, with their massive stockpiles entailing their own problems, while retail investors were…