CZ and Willy Woo Spark Debate: Exchanges Are Safer Than Self-Custody (Flash News)
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Binance CEO Changpeng Zhao cited Willy Woo's December 2025 analysis asserting it is statistically safer to hold crypto on exchanges, citing 1.57 million BTC lost in self-custody versus 1.51 million BTC lost on exchanges. The claim is controversial because Woo's data omits recent security incidents, including the Coldcard hack that is increasing stolen BTC totals and intensifying debates over custody security, hacks, and market confidence.
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Citing data from popular analyst Willy Woo, Binance’s founder, Changpeng Zhao, published a rather controversial opinion on X, stating that it is statistically safer to store crypto assets on exchanges than in self-custody.
Willy Woo’s data shows that 1.57 million BTC has been lost from investors storing their holdings in self-custody compared to 1.51 million from those keeping their assets on exchanges. However, the data Woo shared comes from a December 2025 report and hasn’t taken into consideration the latest hacks and incidents, including the Coldcard fiasco, in which the value of stolen BTC increases daily.
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