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Hi Ember Crew,
With the recent pullback in the market, we just wanted to drop a line and reassure you that everything is okay, along with diving into how Ember protects your assets! With any explosive parabolic market, you will always have healthy corrections.
This time around, it has been made public that crypto exchange FTX is insolvent due to irresponsible leverage trading of customer funds, and has since frozen withdrawals. While this is a setback to the industry in the short term, we believe the market will rebound again to new heights, with a renewed focus on the importance of non-custodial platforms like Ember Fund.
Your keys, your crypto.
For the record, Ember had no exposure to FTX or the FTT token. Furthermore, the leverage trading that FTX was committing isn’t possible on Ember due to our non-custodial infrastructure. Ember has no access or ability to move invested assets without each user’s account signing each transaction. Investors can deposit/withdraw from Ember 24x7, 365. We’re firm believers in non-custodial apps being the future of the industry.
On the graph page for each portfolio, you can also view your investment & the portfolio’s smart contact on-chain, by tapping the button, “View Position On-Chain”. This feature offers complete transparency of your funds, in a way centralized exchanges cannot.
It's important to note, the fundamentals and technology that underpin all of these crypto assets have not changed, only the narrative. Let's continue to think about crypto's long-term potential in the next 5-10 years. Emotion is the enemy of reason, so please do not make trading decisions on “moment-in-time” events.
Fundamentals & on-chain metrics are still pointing to Bitcoin & Ethereum rising again over time. As always, we believe that time in the market beats timing the market, and encourage everyone to remember that each Ember Fund portfolio was crafted to be held for years to come. Ember continues to be extremely bullish on the crypto space and its rapid innovation that continues to expand into new areas of the economy.
As always, continue to diversify with both defensive & offensive products. The crypto industry is currently being challenged, but we appreciate you being here with us. We’ll get through this together!
Onward and upward,
Ember Fund | CEO
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