Could Any U.S. Rulebook Have Stopped the $6.3B Binance Hack?

CoinDesk’s The Policy Protocol hosts Renato Mariotti and Rebecca Rettig open on what the Democratic midterm sweep means for the CLARITY Act. They then dig into the CFTC’s approval of stock perps and the Cboe and Citadel Securities lawsuit challenging it. They’re then joined by Security Alliance (SEAL) researcher Tay Monahan, who breaks down last week’s $6.3 billion Binance hack and argues that no regulator can stop North Korea on its own. Tay also explains how Tether, Circle and the wider industry moved to freeze stolen funds, and names the one control she’d put in place against North Korean IT workers: meeting employees in person. Plus, Renato and Rebecca name onchain investigator ZachXBT as their Person of the Week. - This episode is brought to you by Grayscale, the world's largest digital asset-focused investment platform. Grayscale's mission is to make digital asset investing simple and open to every investor. Learn more at grayscale.com. - Timecodes: 00:00 - Welcome to The Policy Protocol 01:15 - Unpacking the Midterms: Is the CLARITY Act Dead? 03:12 - A 'Terrible Night for Crypto'? 06:16 - A 'Rump CLARITY' in the Lame Duck? 07:20 - CFTC Approves Stock Perps 10:28 - The $6.3B Binance Hack: SEAL's Taylor Monahan Joins 11:11 - Could Any Rulebook Have Stopped the Binance Hack? 13:01 - Why Hackers Target Crypto, and Why Banks May Be Next 15:20 - Keeping North Korean IT Workers Out 18:52 - Tether, Circle and the Industry-Wide Freeze 22:54 - Why the Feds Want Freezes Without Court Orders 25:00 - Person of the Week: ZachXBT - #digitalfinance #finance #bitcoin Subscribe to CoinDesk on YouTube: https://www.youtube.com/user/CoinDesk?sub_confirmation=1 CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Twitter: https://www.twitter.com/coindesk LinkedIn: https://www.linkedin.com/company/coindesk Instagram: https://www.instagram.com/coindesk Facebook: https://www.facebook.com/CoinDesk Newsletters: https://www.coindesk.com/newsletters CoinDesk Podcast Network: https://open.spotify.com/show/2jyIhkvAQhed8AWDZiPpSP Public Keys: https://open.spotify.com/show/1rqYzRV10nfKfoTpFXZhTE Markets Daily Crypto Roundup: https://open.spotify.com/show/7sDXM8BlxsUqzL2IqmLqwE The Policy Protocol: https://open.spotify.com/show/3Fh8ffulAWcCqMu0uVuwoj