CZ States No Opposition to Hardware Wallets, Different Wallets and Products Suit Different Use Cases
CZ posted on platform X, stating that users should pay attention to asset security (SAFU) and mentioned that he does not oppose hardware wallets or self-custody, as different wallets and products are suitable for different use cases, with varying security impacts and best practices.
He also disclosed that YZi Labs has invested in hardware wallet projects such as OneKey and SafePal, as well as mobile wallet products like Trust Wallet.
This statement came during the Ledger investigation into the theft of funds related to Southeast Asian dealer CryptoBilis, where CZ had previously warned users who recently purchased Ledger devices to be aware of supply chain risks.
YZi Labs is the former Binance Labs, Trust Wallet was acquired by CZ through Binance, and SafePal and OneKey are hardware wallet projects that support air-gapped signing and secure elements.
CZ emphasized that self-custody comes with additional responsibilities and suggested that after purchasing new hardware or software wallets, users should observe for several weeks before transferring large assets while staying informed about relevant security news.
In terms of market mechanisms, exchange founders and investment arms are publicly declaring and investing in the wallet sector, directing funds towards various self-custody products; hardware wallet manufacturers are under pressure following supply chain incidents, while mobile and multi-scenario wallets benefit from differentiated positioning.
Users need to choose products based on asset scale and usage frequency, and always operate through official channels.
Source: Public Information
ABAB AI Insight
CZ's acquisition of Trust Wallet through Binance and the push for YZi Labs to invest in OneKey and SafePal continues the exchange's strategy to expand user asset entry from custody to self-custody tools, emphasizing SAFU and user education from the outset.
Capital covers hardware and mobile wallets through a portfolio, concentrating resources on different security model products, motivated to maintain ecosystem coverage as self-custody demand rises, while publicly clarifying positions during supply chain incidents to reduce associated risks.
This is similar to exchanges investing in or acquiring wallets to control distribution channels, or public statements from hardware and software wallets following security incidents. Currently, the focus is shifting from event reminders to multi-product ecosystem positioning, prioritizing user education and portfolio visibility.
Essentially, this pertains to trust boundaries and product stratification: different wallets correspond to different risks and scenarios, with the mechanism being that self-custody transfers key responsibility to users and devices, making supply chain and software updates new attack surfaces, and diversifying single-solution reliance through multi-product investments while maintaining user entry control.
ABAB News · Law of Cognition
- Different scenarios require different security models
- Self-custody transfers responsibility rather than eliminates risk
- Portfolio covers entry, managing trust through declarations.