#Stablecoins

Binance confirmed the largest crypto market heist in history: hackers stole $6.3 billion in assets after hacking an engineer's laptop. The exchange froze some funds and promised to cover losses.

On the evening of October 29, over $2 billion was withdrawn from Binance hot wallets in what appears to be a hack. Founder Zhao stated user funds are safe, and part of the stolen stablecoins has already been frozen.

The U.S. Fed has proposed tightening reserve and capital requirements for stablecoin issuers, while introducing strict rules for banks wishing to issue digital currency.