Trace Mayer promotes January 3 'Proof of Keys' event
Bitcoin advocate Trace Mayer encourages users to withdraw BTC from exchanges to assert ownership for the annual 'Proof of Keys' initiative.
On December 27, 2018, Bitcoin investor and advocate Trace Mayer began promoting the upcoming 'Proof of Keys' event scheduled for January 3, 2019. The initiative encourages Bitcoin holders to withdraw their funds from exchanges to verify private key ownership and highlight the risks of custodial platforms. Mayer outlined the goals of the event in blog posts on his website and interviews on the 'What Bitcoin Did' podcast with Peter McCormack, emphasizing security, self-sovereignty, and awareness of exchange solvency.
He provided practical guides on wallet setups, including hardware wallets such as Trezor and Ledger, and detailed instructions for safe on-chain withdrawal practices. The campaign garnered attention from media outlets like Bitcoin Magazine, CoinDesk, and CNBC, reminding the community of the importance of personal custody in a decentralized financial system, especially amid ongoing volatility during the 2018 'Bitcoin winter.'