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Start free trial →This Week in Startups · Startups & Venture · October 2026
After discussing the $6.3 billion Binance hack, Jason proposed an industry-wide annual security month in which nobody ships new features and everyone patches and updates instead.
He did go
…States. He pled guilty to the U.S. Bank Secrecy Act violations and failing to maintain an adequate anti-money laundering program at Binance. He was sentenced to four months in prison. He served his sentence at a low security facility in California. Oh, Lompak, famous California prison, Lompak.
…right? It's a really important concept for people to take to heart and crypto, especially. And then how this stuff got sucked out. We're going to have a big post-mortem on it, post-mortem on it. I do think everybody has to stop what they're doing in terms of developing new features. We should have a holiday or a tradition now that we do, you know how we have cyber Mondays and stuff like that. We need to have the equivalent of like cyber Septembers. Not that you're trying to sell goods at a discount, but that everybody stops releasing new features for every September and just works on patching, updating. The entire industry says no releasing of new features. That's the month we're going to secure everything. And obviously we'll be doing security all over that.
It's no app November, not no fab November. No
app November. Right. Thank you. Just we need to take a pause, not on develop of new language models because of recursive intelligence. We just need everybody to batten down the hatches. And I think the cyberspend, which my friends from CrowdStrike and Palo Alto networks, I think people spend 5%…
Yeah, the Youngins don't remember Y2K, but this is what happened. Like six months, nine months out before Y2K, we got all these warnings. And then that really, it really did feel like that's what the industry did. Like a lot of people just reset their focus to we got to fix this problem before…