Coinbase said it was not affected by the Binance hack, which drained approximately $6.4 billion from the rival exchange. The U.S. platform keeps more than 99% of customer assets in offline cold wallets and transfers funds to internet-connected wallets only when needed. Its security measures include split private keys, withdrawal limits, anomaly detection, multiple approvals and kill switches capable of taking signing keys offline. The company said customer assets are held 1:1 and are not lent out unless customers explicitly request it. It reported $8.6 billion in cash and cash equivalents and $377 billion in assets on its platform as of September 30.
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