Article Summary

**Binance Founder CZ Demands Cryptocurrency Custody Audits Following QMMM Digital Asset Treasury Scandal** Binance founder Changpeng Zhao (CZ) has urgently called for mandatory custodial audits across all Digital Asset Treasury (DAT) companies following the explosive QMMM scandal that has rocked the cryptocurrency industry. The US-listed firm allegedly engaged in market manipulation before abandoning its Hong Kong operations, highlighting critical vulnerabilities in digital asset custody practices. CZ's intervention underscores growing concerns about cryptocurrency security and regulatory oversight in the rapidly expanding DAT sector. The QMMM collapse exposes potential systemic risks that could impact Bitcoin prices, blockchain stability, and broader DeFi market confidence. This scandal arrives as institutional cryptocurrency adoption accelerates, making robust custody solutions essential for protecting digital assets. Industry experts predict CZ's audit proposal could trigger sweeping regulatory changes across cryptocurrency exchanges and digital asset management firms. The incident reinforces the critical importance of transparency and accountability in cryptocurrency custody services, potentially influencing upcoming blockchain regulations and institutional investment strategies. Market participants are closely monitoring developments as the cryptocurrency community pushes for enhanced security protocols and standardized audit requirements.