Vitalik Buterin has some advice for crypto exchanges: stop chasing market share and focus on staying alive. The Ethereum co-founder says the next two years should be about survival rather than competition.
The warning follows the largest recorded breach in the industry’s history. On October 29, 2026, hackers drained approximately $6.3 billion from Binance’s hot wallets.
What Buterin said, and what happened at Binance
Buterin made the remarks in an interview with Moneycontrol on November 4, 2026. His message went beyond exchanges. It also covered custodians and other institutions that hold crypto on behalf of customers.
