Binance founder Changpeng Zhao said that holding cryptocurrency on an exchange may be safer than self-custody. Changpeng Zhao stated via X, "Hacks targeting self-custody are often not reported. On the other hand, in the case of exchange hacks, data collection is easy, and it is also treated as a market issue. While some exchanges handle security well, some defunct exchanges can drag down the overall average. I'm not saying that holding on an exchange is unconditionally better, but a balanced approach would be better (rather than unconditionally asserting that self-custody is always right)."
