Binance Pioneers Crypto Legacy with Inheritance Function, CZ: Every Platform Should Have a “Will Function”

Binance has introduced a pioneering emergency contact and ‘will function’ as part of its June 12, 2025, platform update. This tool allows users to designate heirs and emergency contacts to manage their crypto assets posthumously, addressing a pressing industry issue.

The function, accessible via Binance’s account settings, includes a user-friendly interface where users can set up contacts and submit inheritance claims with proof of death, such as a death certificate, leveraging blockchain security for transparency.

The initiative gained significant attention following a post by Binance CEO Changpeng Zhao (CZ), where he stated, “This is a topic people avoid, but the fact is, humans cannot live forever yet. Every platform should have a ‘will function’—so that when someone is no longer around, their assets can be distributed to designated accounts according to specified proportions.

Binance executive Yi He provided practical insights, noting that the platform’s predominantly younger user base may lower the likelihood of deaths compared to global averages, and the exchange has handled cases requiring death certificates and family disputes, including conflicts between direct and non-direct heirs, with incremental improvements daily.

Analyst @cryptobraveHQ previously estimated that a 0.08% global accidental death rate applied to Binance’s 2.5 billion users could result in approximately 20,000 annual deaths, potentially leaving $80 millionin in dormant or unclaimed crypto assets at risk. He replied Yi “Binance’s emergency contact and ‘will function’ is truly necessary.”

Support also came from Gate.io’s founder, Han Lin, who posted, “Fully agree with CZ on the ‘will function’—it’s a must for the future of crypto assets,” signaling industry-wide endorsement.

Crypto Assets Pose Challenges in Divorce Proceedings

As cryptocurrency becomes increasingly prevalent, divorce proceedings are facing new complexities—especially around valuation and disclosure.

Family lawyer Christopher R. Castellano warns that identifying and valuing digital assets remains “the biggest challenges” in divorce cases. The extreme price volatility—where a Bitcoin stash could swing from $60,000 to $50,000 between filing and court hearing—makes equitable distribution unpredictable and contentious.

Moreover, the decentralized and pseudonymous nature of crypto encourages concealment. Common “red flags” include sudden drops in shared bank balances, unexplained transfers to private wallets, and hidden devices or recovery phrases . Such tactics force legal teams to seek global freezing orders or subpoenas, raising both cost and complexity.

Crypto’s Growing Role in Life, Legacy, and Taxatio

Crypto has become a fixture in modern life, whether through inheritance or property division, and Binance’s function aligns with this trend. With around 861 million crypto users worldwide expected in 2025, and U.S. federal estate tax exemption standing at $13.99 million with a top rate of 40%, the growing value of crypto portfolios brings significant estate-planning implications.

This addresses the $1 billion annual loss of unclaimed assets, as noted earlier, reflecting market evolution. However, as crypto integrates deeper into personal finance, legal systems must adapt to both inheritance and divorce scenarios. Digital assets are here to stay, shaping how we navigate life’s certainties—death and division—while inviting ongoing discussions on taxation and equity.