6h ago
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
BTC
BTC-2.26%
6h ago