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Data shows more Bitcoin lost in self-custody than exchange hacks, Binance's CZ says exchanges are safer.

Market News
04 Aug 2026
Crypto Briefing
View Source
Neutral
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Changpeng Zhao, Binance's founder, argued that storing Bitcoin on exchanges is statistically safer than self-custody, citing data showing 1.57 million BTC lost through self-custody versus 1.51 million BTC lost in exchange hacks. He highlighted Binance's Secure Asset Fund for Users (SAFU), which covers losses from hacks, as proof exchanges have matured. The debate matters because self-custody losses often result from individual errors, while exchange failures affect many users simultaneously, so investors should consider their risk tolerance and needs when choosing custody methods.

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