Binance would need a couple of months to fill this hole, unless they use other shady tactics to get whole faster. The hacker has $BTC worth $1.4b and $ETH worth $1b ready to…
Original source excerpt
Binance would need a couple of months to fill this hole, unless they use other shady tactics to get whole faster. The hacker has $BTC worth $1.4b and $ETH worth $1b ready to sell. For $BTC, that's mo…
Binance would need a couple of months to fill this hole, unless they use other shady tactics to get whole faster. The hacker has $BTC worth $1.4b and $ETH worth $1b ready to sell. For $BTC, that's more than 3x the $450M that spot ETFs bought all week. If this is like the Bybit hack, then buying back coins could create meaningful demand. But there’s a large potential seller on the other side. With that said, I like the $BTC setup enough to take a position. My thought here is that Binance will 100% recover from this. But after this + October 10, another incident like this gives traders another reason to reconsider how much money they keep on CEXes (which is why we saw a huge spike in the $HYPE price after the hack). Decentralized exchanges for the win.
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