Grayscale reports that roughly $6 billion was stolen from Binance, with 95% already covered by the exchange and zero user losses. According to the firm, Binance absorbed the largest hack in crypto history on its own balance sheet. The incident is drawing attention to security and custody standards, including the institutional arrangements behind crypto ETFs and ETPs. Grayscale suggests the event could accelerate demand for regulated crypto ETPs, with further analysis published on The Stack by @LowBeta.

AI summary of the linked source — not editorial content.

Explore the topic

Loading related coverage…

Comments

Loading comments…