Binance breach puts custody at center of crypto infrastructure trade

Binance suffered a $6.3 billion breach that has thrust crypto custody into the center of the infrastructure trade. The incident is prompting investors to reassess how digital assets are held and secured across exchanges and custodians. Custody infrastructure is now being viewed as a distinct investable theme rather than a back-office function. Market participants are watching which custody providers and exchanges can demonstrate robust security controls. The lessons from the Binance hack are expected to shape the next phase of the crypto infrastructure trade.