- 1Binance Reports a $6.3 Billion Security Incident. Binance said unauthorized transfers hit several exchange-controlled wallets on October 29.
- 2Bitcoin Falls Below $77,000 as Leverage Unwinds. The news landed on a market that was already fragile.
- 3US Spot Bitcoin ETFs Keep Attracting Capital. Despite the turbulence, institutional demand through US-listed products has held up.
Binance Reports a $6.3 Billion Security Incident
Binance said unauthorized transfers hit several exchange-controlled wallets on October 29. Roughly $3 billion of the affected assets has since been frozen on-chain, according to market reports. The exchange suspended withdrawals, said unauthorized outflows stopped after the suspension, and indicated that service should resume within about 45 hours. Reports also indicate that Binance intends to cover user losses.
If the estimate holds, this would rank among the largest thefts in crypto history. Investigators continue to trace the stolen funds, and on-chain analysts say the attacker has already begun swapping and selling tokens, adding to the pressure on altcoins.
Bitcoin Falls Below $77,000 as Leverage Unwinds
The news landed on a market that was already fragile. The Federal Reserve's October 28 rate decision and fresh inflation data had weighed on risk assets, and a sharp selloff in technology stocks, led by disappointing earnings and renewed doubts about AI spending, added to the caution.
Bitcoin dropped roughly 4% in 24 hours and fell below $77,000, while Ether and XRP also declined. The move triggered about $1.5 billion in liquidations across crypto derivatives, most of them long positions. Binance's own token, BNB, was among the hardest hit, falling by high single digits at one point.
US Spot Bitcoin ETFs Keep Attracting Capital
Despite the turbulence, institutional demand through US-listed products has held up. Spot Bitcoin ETFs took in about $137 million on Wednesday, extending their inflow streak to three sessions and lifting weekly additions to roughly $424 million. Combined net assets of these funds stand near $105 billion, with BlackRock accounting for most of the demand.
The picture is not one-sided, however. Over the past 30 days, US Bitcoin ETFs have still recorded net outflows of about $255 million, which shows how cautious large allocators remain near the $80,000 level.
What American Investors Should Watch Next
This story is for information only and is not financial advice. Crypto assets are volatile; do your own research before acting on anything here.
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