Squawk on the Street · Nov 4, 2026
With Jeremy Allaire, Co-Founder and CEO of Circle
Photo via circle.com
Cyberattacks against crypto infrastructure, and against "every infrastructure," have accelerated to a pace nobody built defenses for. Jeremy Allaire, co-founder and CEO of Circle, told CNBC's Squawk on the Street that the acceleration has been building for months and is driven by increasingly capable, agentic AI systems.
"Agentic infrastructure is attacking infrastructure at a scale and velocity that we've never imagined." — Jeremy Allaire
Jeremy co-founded and runs Circle, the issuer of the USDC stablecoin, and joined the hour in the wake of a security incident at Binance, one of Circle's largest distribution partners.
The full segment is covered here so you can skip it.
Here are the 3 takeaways that matter.
Key Takeaways
Cyberattack velocity has accelerated for three to six months, Jeremy says, across all infrastructure, not just crypto
The Binance incident is "not like the run on FTX," Jeremy says
Circle's stablecoin infrastructure can freeze and seize assets on-chain, a tool correspondent banking lacks
Circle's five-year Binance partnership reaches customers in emerging markets with high digital-dollar demand
Jeremy expects the incident to shape future stablecoin regulation
1. Cyberattacks Accelerate
Jeremy said the pace of attacks on infrastructure, crypto and otherwise, has changed dramatically over the past several months, driven by AI systems capable of acting on their own.
Attack velocity has changed extraordinarily over three to six months, Jeremy says
"For the last three to six months, we have been seeing extraordinary change in the velocity of the attack vectors from a cyber perspective. Not just in crypto, but in every infrastructure." — Jeremy Allaire
He framed the Binance incident as part of that broader pattern rather than a crypto-specific failure, driven by agentic AI systems operating at a scale he said nobody anticipated.
Agentic AI is attacking at a scale nobody anticipated, Jeremy says
"Agentic infrastructure is attacking infrastructure at a scale and velocity that we've never imagined." — Jeremy Allaire
