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Binance founder CZ reminded today on X that digital wealth of deceased owners might sink into a black hole without an inheritance channel. He called for every platform to set up a "will function" and mentioned that regulators should allow minors to own receiving accounts.

Binance Launches Heritage Function

CZ discussed this topic because Binance launched an "Emergency Contact and Heritage Inheritance" function in mid-June, allowing users to designate trusted persons to help legal heirs obtain assets after submitting notifications and legal documents, with community users already seeing this feature after updating the App.

A KOL wrote: "Worldwide, there are annual cases of accidental deaths leading to over a billion dollars of crypto assets being inherited by centralized exchanges", hoping other exchanges will accelerate and launch this inheritance function.

Self-Custody Challenges

It can be expected that centralized platforms will likely expand support for this service as cryptocurrency becomes more prevalent. However, self-custody users must spend more effort, otherwise private keys lost or not shared with family will cause assets to permanently disappear.

Experts suggest users should prepare in advance, utilize platform inheritance tools, or complete planning through trusts and professional custody services, safely recording private keys and recovery information, as people can never predict accidents.

CZ's appeal and Binance's new function may not be the endpoint, but have opened the prelude to crypto heritage issues. Platform innovation, legal support, and user self-discipline will jointly determine whether future assets can avoid becoming an "unreachable black hole".