Grayscale Reveals a Silver Lining in Binance’s $6 Billion Hack

Grayscale said Binance’s $6 billion hack could lead to stronger exchange security despite a potential setback for market confidence. The asset manager also highlighted institutional custody through U.S. crypto investment products as a central lesson for investors. Grayscale, a digital asset manager, said on Nov. 3 that the Binance hack could ultimately improve security practices across cryptocurrency exchanges. Zach Pandl, the company’s head of research, examined the implications for U.S. investors in his assessment of the Binance hack . The Oct. 29 attack drained approximately $6.3 billion from the platform.