Binance Hack Spurs Crypto Industry to Weigh Wall Street-Style Trade Delays

Cointime reports: The Binance hack is prompting the crypto industry to reconsider its long-held decentralization principles and to study traditional finance safeguards such as transaction review, settlement delays and the ability to freeze funds, Bloomberg reported on Nov. 6. Third Eye CEO Tian Zeng said settlement should extend from T+1 days to T+1 hours, adding review steps to slow hackers moving funds. FalconX’s Joshua Lim said institutional clients are increasingly unwilling to accept fully irreversible transactions.