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South Korea demands stronger crypto safeguards following Binance hack

The article was updated with information from News1 Korea. South Korea’s Financial Services Commission has directed domestic cryptocurrency exchanges to hold more assets in cold wallets and strengthen their financial reserves following the $6.3 billion Binance hack on October 29.…

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Stablecoin card spending is rising. Here’s where the money goes

Stablecoin cards let customers spend digital dollars through familiar checkout terminals. Behind the growing volumes are issuers, custody providers, conversion services and settlement arrangements that determine the cost and what happens when a purchase goes wrong. Tracked stablecoin card volume…

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Arbitrum moved stolen Binance funds. Returning them takes a vote

Arbitrum’s Security Council used a temporary contract upgrade to move cryptocurrency linked to the Binance hack. Its emergency action stopped the attacker from moving those assets, but deciding their destination belongs to a separate governance process. Arbitrum’s Security Council has…

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What can we learn from the Binance hack and recovery?

Binance has begun restoring access after a $6.3 billion theft, drawing on its own reserves to replace customer assets. Its recovery offers lessons about how exchanges approve transactions, communicate during a crisis and demonstrate that customers can get their money…