Binance allows holding assets in third-party custodians Binance, one of the world’s largest crypto exchanges, has contributed to Bitcoin (BTC)’s rise to prominence. However, its reputation faced challenges after the fall of FTX Trading Ltd in November 2022. Despite these setbacks, traders still rely on Binance as an exchange but the demand to hold their assets with a third-party custodian grew stronger. On January 30, 2024, Binance officially announced support for independent bank custody.
