Tag: scrutiny
Immunefi CEO Warns of Urgent Security Needs in Stablecoin Sector
The post Immunefi CEO Warns of Urgent Security Needs com. Iris Coleman Nov 01, 2025 02: 17 Immunefi CEO Mitchell Amador discusses the urgent need for enhanced security in the rapidly growing stablecoin sector as vulnerabilities pose significant risks. Stablecoin Security Under Scrutiny As stablecoins become increasingly integral to the digital economy, security concerns are mounting. According to a recent interview with Mitchell Amador, CEO of Immunefi, security firms are in a ‘race against time’ to prevent potential billion-dollar exploits in the stablecoin sector. This urgency is driven by the explosive adoption of stablecoins and the concurrent lag in security infrastructure development. High Vulnerability Rates Amador revealed alarming statistics indicating that over 90% of audited projects within the stablecoin ecosystem exhibit critical vulnerabilities. These vulnerabilities could potentially lead to significant financial losses if not addressed promptly. Despite the influx of capital into the stablecoin market, many projects fail to implement essential security measures such as firewalls, leaving them exposed to potential exploits. Challenges in Security Infrastructure The rapid growth of stablecoins has outpaced the development of robust security frameworks necessary to protect these digital assets. As a result, the sector faces substantial risks that could undermine trust and stability in the broader cryptocurrency market. Amador emphasized the need for comprehensive security audits and the implementation of advanced security protocols to safeguard these financial instruments. Broader Implications for the Crypto Market The implications of inadequate security in the stablecoin sector extend beyond individual projects. Stablecoins serve as a financial backbone for the on-chain economy, facilitating transactions and providing liquidity across various platforms. Therefore, any significant breach or exploit could have ripple effects throughout the entire cryptocurrency ecosystem, potentially impacting market stability and investor confidence. For more detailed insights, the full interview with Mitchell Amador can be found on CoinMarketCap. Image source: Shutterstock Source:.
“Crypto Market Growing Too Fast for Regulators”
The post “Crypto Market Growing Too Fast for Regulators” appeared com. Regulations A new warning from the Financial Stability Board (FSB) has reignited concerns that the world’s fragmented approach to cryptocurrency regulation could soon backfire. The G20-backed watchdog said in a Thursday report that most countries have failed to build cohesive frameworks capable of addressing the global nature of the digital asset industry, even as market capitalization has nearly doubled over the past year. The FSB, formed after the 2008 financial crisis to monitor systemic threats, admitted that while progress has been made since its 2023 guidance, crypto oversight remains a “patchwork” of partial laws and uncoordinated enforcement. Secretary General John Schindler told reporters that crypto assets “don’t respect borders,” warning that the ease with which digital tokens move across jurisdictions could undermine financial stability if left unchecked. Stablecoins Under Scrutiny Among the report’s main concerns were stablecoins, which have surged almost 75% over the past year to roughly $290 billion in circulation. The FSB noted that only a handful of countries including the United States, following the passage of the GENIUS Act have implemented clear rules for dollar-pegged tokens. The rest are lagging far behind, raising fears that regulatory blind spots could be exploited as adoption widens. The watchdog reviewed 29 major jurisdictions including the EU, UK, Hong Kong, and the U. S., concluding that coordination remains too limited to manage potential spillovers. Schindler said the issue isn’t simply about drafting laws but ensuring governments cooperate, warning that “without shared enforcement, national frameworks become meaningless.” Mounting Risks After Market Turbulence The FSB’s call comes just a week after the crypto market suffered its largest crash on record, wiping nearly $20 billion in value within hours. While the Board still considers risks to global stability “contained,” it acknowledged that rising institutional exposure and political support particularly under President Donald.
The New York Times
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