Binance’s $6.3 billion breach shifts investor focus toward custody and crypto infrastructure
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Last Thursday’s $6.3 billion hack at Binance is pushing markets to put more weight on custody, cybersecurity, and balance-sheet strength rather than trading fees alone. CEO Richard Teng told CNBC on Tuesday that Binance has replenished 98% of $6.34 billion in affected assets and is still buying back less liquid holdings. Tether, Circle, Ripple and others restricted roughly $3 billion in stolen assets; Binance’s leadership covered losses without the kind of fraud seen at FTX.
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