Waters Seeks Stronger Crypto Safeguards After Binance’s $6.3 Billion Hack

Rep. Maxine Waters is pressing for tougher crypto safeguards after Binance put losses from a hot-wallet breach at about $6.3 billion and halted customer withdrawals. Waters, the top Democrat on the House Financial Services Committee, called for stronger customer protections and financial-crime and cybersecurity standards in a statement dated Oct. 30. She described the reported hack as a “wake-up call” for accountability in the crypto industry. Binance placed the unauthorized hot-wallet withdrawals at about 4:05 p.m. ET Oct. 29 (20:05 UTC). In an Oct.