Anchorage CEO: Crypto Needs Security Baked Into Every Layer

McCaully warned that the Binance incident exposed a systemic failure, not just a single exchange flaw. He told Bloomberg Crypto that exchanges, custodians, and protocols must harden infrastructure simultaneously, or the next breach will simply find the weakest remaining node.

The Anchorage chief dismissed the idea that regulation alone can fix custody risk. In his view, only market pressure from sophisticated capital allocators will force every participant to treat security as a core product feature rather than a compliance checkbox. Builders who ignore this are pricing themselves out of institutional money.

McCaully’s stance lines up with the view that capital flows to jurisdictions where rules are predictable and security is verifiable. Countries that punish innovation with surveillance mandates or endless paperwork will simply lose the next generation of financial infrastructure to places that understand the difference between oversight and overreach.