Binance says it has covered about 95% of the $6.3 billion stolen in last week's record hack, using its own treasury, its SAFU fund and its futures insurance fund. Withdrawals…
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🚨 Binance says it has covered about 95% of the $6.3 billion stolen in last week's record hack, using its own treasury, its SAFU fund and its futures insurance fund. Withdrawals reopened on Nov. 1. …
🚨 Binance says it has covered about 95% of the $6.3 billion stolen in last week's record hack, using its own treasury, its SAFU fund and its futures insurance fund. Withdrawals reopened on Nov. 1. How does one exchange absorb a loss that size? Revenue. Binance doesn't publish its accounts. CZ put annual revenue at around $5 billion in March, while Bloomberg estimates $10.7 billion for the 12 months to June. Either way, the hack equals roughly six to 15 months of income. Here are crypto's biggest earners over the past year, and how they make their money: Binance: $5B–$10.7B (est.). Trading fees, listings, Earn products Tether: $5.96B. Interest on USDT reserves Coinbase: $5.65B. Trading fees, USDC interest share, staking Circle: $2.38B. Interest on USDC reserves Hyperliquid: $663M. Perpetual futures trading fees Tron: $334M. Network fees, mostly USDT transfers Pump(dot)fun: $330M. Memecoin launch and trading fees Grayscale: $197M. Fund management fees Sky: $193M. Loan interest and real-world asset yield GMGN: $158M. Trading app fees The biggest money is in stablecoins and exchanges. Among onchain protocols, perpetual futures and memecoin launchpads lead.
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