XRP News Today: XRP Founder Defends Cold Wallets Amid Cybersecurity Expert Criticism

Edward Farina, the founder of Alpha Lions Academy, has issued a stern warning to XRP holders in response to a video by an individual claiming to be a cybersecurity expert. Farina's warning was prompted by the expert's criticism of cold wallets, which he described as either "the dumbest take of the year" or "the most criminal."

In his tweet, Farina clarified that cold wallets, such as Ledger and Trezor, do not store cryptocurrencies on the physical device itself. Instead, these devices securely store private keys, allowing users full access to their digital assets on the blockchain. This method ensures that users maintain control over their funds, unlike custodial storage on centralized exchanges.

Farina highlighted the risks associated with centralized custodianship by referencing historic exchange failures such as Mt. Gox and FTX. He emphasized that true ownership of cryptocurrencies is only achievable through self-custody methods like cold storage, where users control their private keys.

The video that sparked Farina's response featured a man who repeatedly emphasized his cybersecurity credentials while criticizing cold wallets. He compared cryptocurrencies to traditional assets like Tesla or GE stocks, questioning why anyone would store them in cold wallets. He argued that storing crypto on exchanges like Uphold, Kraken, or Robinhood was more secure due to their significant investment in cybersecurity infrastructure.

The speaker also raised concerns about the security of cold wallets purchased online, suggesting that connecting such devices to unsecured networks could compromise user funds. Throughout the video, he used profanity and dismissed cold wallet usage as naive and unwise, directly addressing XRP holders and challenging their understanding of digital asset custody.

In response to the video and Farina's tweet, community members echoed the CEO's concerns. One user, Lion of Judah, criticized the speaker's professionalism and shared their positive experience with a Nano Ledger, reinforcing confidence in the security and reliability of cold wallet solutions when used correctly.

Farina concluded his message by urging the community to stop spreading misinformation. He reiterated that, provided the seed phrase is safely stored and never shared, cold wallets remain one of the most secure methods of holding cryptocurrency. His intervention serves as a reaffirmation of long-held industry best practices surrounding self-custody and challenges narratives that favor centralized control over individual ownership.