Binance got hacked. Here's how it compares to the Bybit hack last year. ▶ Bybit (Feb 2025) About $1.5B was stolen, and none of it came back. BTC dropped 4.5% that day and ETH 7.7%. Both bounced back the next day. Later that week they fell much further, because of tariffs and a weak market. ▶ Binance (now) About $5.6B left Binance. That's the biggest crypto hack ever, more than 3x Bybit. Tether and Circle froze around $2B of it. That still leaves over $3B stolen, including about $1.5B in BTC. T

More on the Binance hack and my thoughts: Tether froze about $971M and Circle about $823M. That's around $1.8B of the stolen stablecoins locked. The catch is that the hacker's wallet reportedly holds over $2B, including ETH, and ETH can't be frozen. That's the overhang. CZ says user funds are safe and expects them to be fully covered, but Binance hasn't confirmed that yet. The market reaction: $BTC lost $80K and wicked to $78.3K. Volume is about 5x normal, and spot selling is leading the move. B

ETFs bought $301,000,000 in $BTC this week. ETFs sold $220,000,000 in $ETH and $17,600,000 in $SOL this week.

Whale “Machi Big Brother” opens $15,876,000 ETH long, now $9 from liquidation