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Stablecoins

Binance pauses withdrawals after a security incident it puts at around $6.3bn, and says it will cover all losses

Binance says it will cover all losses from its SAFU fund and company funds, and that it has reserved over $6.34bn of company funds to do so. Withdrawals remain paused, and the exchange now says they are on track to resume in 45 hours. Its investigation has found additional points of breach beyond a compromised laptop. Binance says about $3bn has been frozen, and one blockchain analytics firm has attributed the attack to North Korea.

6 min read

Bank of England says existing rules are no barrier to tokenised collateral at CCPs, and consults on what it will check

The Bank of England on 29 October published a draft supervisory statement for central counterparties that want to accept tokenised versions of collateral they can already take, with tokenised government bonds as the main example. It does not change the list of eligible collateral, and it asks for views on stablecoins, tokenised money market funds and tokenised gold. Responses close on 12 February 2027.

5 min read