Coinbase: Unaffected by the Binance hot wallet incident, over 99% of customer assets are held in cold storage.

Coinbase said its systems and customer funds were unaffected by the recent Binance hot wallet incident, emphasizing that more than 99% of customer assets are held in cold storage while hot wallet balances are adjusted dynamically based on deposit and withdrawal demand. The exchange said customer assets are held 1:1, remain customer property, and are not lent out or used unless instructed. Coinbase also cited safeguards including distributed keys, outbound transfer limits, anomaly detection and controls to halt signing. The disclosure matters as exchanges face renewed scrutiny over custody and hot wallet risk following the Binance event. What to watch next is whether other major venues publish similar breakdowns of cold versus hot wallet holdings and whether Binance provides further detail on the incident.