Coinbase CEO says industry collaboration can help contain fallout from hacks like Binance breach - CNBC

Coinbase CEO Brian Armstrong joined "Squawk Box" on Thursday for his first TV interview since the Binance hack to share his perspective on cybersecurity in light of the breach.

The security incident, which took place Oct. 29, affected about $6.3 billion of assets, making it the largest crypto theft in history and raising broader questions about security, resilience and vulnerabilities in an increasingly AI-driven crypto ecosystem. Armstrong has been vocal about the need for the crypto industry to work together through potentially industry-defining moments like the Binance breach.

"The first thing that we try to do in moments like that is collaborate with others in the industry," Armstrong told "Squawk Box." "There was an opportunity to make sure that further funds were not lost going to these compromised wallets or that funds could be frozen in some cases, particularly with stablecoins. So first we jump in and we try to help."

(Editor's note: Armstrong's appearance was abruptly ended because of breaking news.)