According to Wu, Zach Pandl, Head of Research at Grayscale, published an analysis pointing out that although the October 19th hack targeting Binance, which cost over $6 billion, pushed the total cybersecurity losses in the industry to a new high of over $8 billion in 2026, the proportion of security losses to the total market capitalization of crypto has decreased significantly in the long run. Binance has already covered 95% of the affected assets, meaning customers will not incur losses, and stablecoin issuers such as Tether and Circle have assisted in freezing approximately $2.9 billion (about 45%) of the stolen funds, which are expected to be returned to Binance. Zach Pandl believes that while the incident has impacted market confidence in the short term, it will ultimately drive all exchanges to establish stricter security practices. At the same time, it highlights the importance of institutional-grade custody, prompting more and more US investors to seek exposure to crypto assets through exchange-traded products (ETPs) with security features such as segregated positions, cold storage, multi-signature, and commercial insurance. https://www.(wublock123.com)/news/grayscale-security-loss-share-falls-binance-spurs-industry-upgrade-71280