[Bloomberg: Binance Hack Triggers Rethinking in Crypto Industry, Potentially Reintroducing Wall Street Risk Control Mechanisms Like Transaction Delays] Odaily Planet Daily reports that the Binance hack is prompting the crypto industry to re-examine its long-held decentralized principles and the transaction review, settlement delays, and fund intervention mechanisms in the traditional financial system. As the crypto industry seeks entry into the mainstream US financial market, some institutional investors are beginning to reconsider Wall Street's financial risk control mechanisms. Traditional financial institutions such as banks, payment networks, and clearinghouses can review suspicious transactions during fund transfers and, under certain circumstances, suspend fund flows. Tian Zeng, CEO of crypto hedge fund Third Eye, stated that he hopes settlement times can be shortened from the traditional T+1 day to T+1 hour. By appropriately extending settlement times and adding review processes, the ability of hackers to quickly transfer funds can be reduced. Joshua Lim, co-head of markets at FalconX, pointed out that as more institutions enter the crypto market, the client structure is changing, and some institutions are no longer willing to fully accept the risks associated with irreversible transactions. As the crypto industry further integrates with traditional finance, striking a balance between transaction efficiency, decentralization, and fund security will become a crucial issue the industry must address. (Bloomberg)