CZ recommends third-party custodians for treasury firms following QMMM collapse

Binance’s founder Changpeng ‘CZ’ Zhao responded to the recent case of QMMM, a multi-coin treasury company which has allegedly ￰1￱ believes DAT companies should use a custodian to store their crypto as a precaution. Binance’s founder Changpeng ‘CZ’ Zhao said digital asset treasury (DAT) companies should use third-party custodians for their ￰2￱ statement came in response to the recent case of QMMM, one of the early treasury ￰3￱ firm reportedly disappeared after the initial stock ￰4￱ DAT companies should use 3rd party crypto custodians with account setup audited by ￰5￱ is a prerequisite for any @yzilabs investments in any #BNB DATs. ￰0￱ — CZ 🔶 BNB (@cz_binance) October 17, 2025 Zhao has paid special attention to BNB companies, with Binance standing as a potential partner and custodian for those ￰6￱ Cryptopolitan reported , QMMM gained the spotlight recently after its stock trading was suspended, following a 959% ￰7￱ stock was suspended following accusations that the Hong Kong-based, US-listed company was using social media to manipulate the asset ￰8￱ closes offices, disappears QMMM is the first DAT company to fold, even before announcing any actual ￰9￱ planned to raise up to $100M for a multi-asset strategy, focusing on BTC, ETH, and ￰10￱ company promoted itself on Reddit, which was also noted by the US SEC as potential ￰11￱ QMMM stock rally also caused liquidations when traders attempted to short the company due to its risky ￰12￱ unusual rally wiped out those short positions, leading to additional ￰13￱ the peak, QMMM was valued at $990M.

QMMM had an anomalous rally before its trading was suspended, causing additional short liquidations. |