Changpeng Zhao, former Binance CEO, emphasizes the urgent need for enhanced security measures within the cryptocurrency industry following the collapse of QMMM Holdings. This firm, a Hong Kong-based crypto company listed on Nasdaq, saw its share price surge dramatically before SEC intervention halted trading and triggered the closure of its Hong Kong office. This raises concerns about asset security within the crypto world, prompting Zhao to advocate for third-party custody services for all Digital Asset Treasury (DAT) investments and mandatory investor audits for greater accountability. His calls come as investor trust in the sector remains fragile following this high-profile incident.