Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Today in crypto, exchanges moved to reassure customers about their cold storage reserves following Binance’s $6.36 billion hack, Bitcoin plunged below $76,000 as US stocks erased gains made after the midterm elections, and France’s rejection of a key section of its 2027 budget temporarily sidelined proposed crypto tax and wallet reporting measures.
Crypto exchanges were quick to reassure users following the attack on Binance’s hot wallet infrastructure last week, with several companies disclosing how they divide assets between cold storage and internet-connected hot wallets this week.&
Crypto exchange Gate on Thursday launched a “Proof of Security” (PoSEC) framework, reporting that 88.26% of its total assets were in cold storage and 11.74% in hot wallets. It claims its cold storage could cover 104.58% of customer assets even if its hot wallets were completely drained.
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