CZ said the Binance-linked address holding more than 200,000 BTC is likely a multisig P2SH wallet, addressing X platform concerns that a single private key could expose such a large balance to risk.
Changpeng Zhao, known as CZ and a Binance co-founder, responded to concerns about a Binance-linked wallet reported to hold more than 200,000 BTC by saying the address is likely a multisig P2SH setup rather than a single-key wallet. The discussion followed posts on X questioning whether concentrating such a large Bitcoin balance in one address created private key collision or security risks. The new analysis added that common multisignature configurations such as 2-of-3 or 3-of-5 require multiple keys to authorize transfers, reinforcing CZ’s point that the wallet may use layered protections for a large institutional-scale holding.