In his first interview since Binance suffered a record $6.3 billion hack, founder Changpeng Zhao warned that artificial intelligence is accelerating cyberattacks faster than crypto firms can strengthen their defenses, according to a weekly recap from Bitcoin.com News. The warning came as the industry confronted a wave of security incidents and scams.
Security concerns dominate the week
Binance also warned users about impersonators exploiting its withdrawal restart with fake compensation offers and fees for faster processing. The exchange urged vigilance as it resumed withdrawals after the hack.
Zhao, known as CZ, said AI is making attacks more sophisticated and frequent, raising questions about whether crypto companies can keep pace. The recap noted that recent worldwide hacks and cyberattacks on regular companies may support his view.
Strategy’s STRC returns to $100
Strategy’s STRC preferred shares reached the $100 mark on Wednesday for the first time since May, after the company shifted to daily dividends. The milestone marked a significant recovery for the instrument.
The recap observed that STRC had traded at $70 in June, and buying at that point would have provided about a 45% return plus the 12% APY that STRC offers.
Bitmine approaches 5% ether target
Bitmine Immersion Technologies moved to 99% of its goal to own 5% of ether’s total supply. Chairman Tom Lee downplayed the impact of the $6.3 billion Binance hack on the company’s strategy.
The recap noted that Lee had committed to the accumulation target and has now nearly achieved it, raising the question of what the company will pursue after reaching its “Alchemy of 5%” goal.
Grayscale points to mainstream finance
Grayscale highlighted tokenized funds and stablecoin payments as evidence that crypto is becoming embedded in mainstream finance, citing Blackrock, JPMorgan and Visa. The firm argued that these developments bolster the case for crypto growth.
The recap added that few market participants doubt the trajectory of tokenization and stablecoins, and that answering how regular investors can gain exposure may be one of the best plays of the market cycle.
