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BusinessQuiet 12d · day 12

Bitcoin ETF investors flee after $6.4B Binance hack

Spot Bitcoin ETFs shed $643 million on Friday, their biggest single-day outflow in October, as the largest crypto hack in history tests investor confidence.

newest coverage 12d agosummary written 12d ago4 pieces NewswiresMastodon

What to know

  • Attackers stole $6.4 billion from Binance on Thursday night, marking the largest crypto hack in history.
  • Bitcoin ETF investors fled Friday with a $643.2 million outflow—the biggest single-day loss in October—signaling confidence tests despite Binance's loss-coverage pledge.
  • Ethereum and Solana ETFs saw sharper outflows relative to their size, with traders on prediction markets turning bearish on both assets.
  • Bitcoin recovered partially by Saturday to $77,520 while total crypto market cap stabilized at $2.7 trillion; macro headwinds from Fed rate expectations persist.

“Binance has pledged to cover all losses with company funds and an emergency reserve, while Tether and Circle froze more than $2.3 billion in stolen stablecoins.”

Decrypt · Decrypt ↗

Binance Hacked crypto exchangeTether Stablecoin issuerCircle Stablecoin issuer

Bitcoin ETF investors flee after $6.4B Binance hack
decrypt.co

How it unfolded 1 development · click the chart to see its coverage articlesposts

Peak 4 pieces in 3h at Nov 1, 10 AM; 4 pieces over 12 days (3 articles · 1 post) Nov 1, 10 AM — 4 pieces · 3 articles · 1 post — Newswires 3, Mastodon 1Nov 1, 1 PM — quietNov 1, 4 PM — quietNov 1, 7 PM — quietNov 1, 10 PM — quietNov 2, 1 AM — quietNov 2, 4 AM — quietNov 2, 7 AM — quietNov 2, 10 AM — quietNov 2, 1 PM — quietNov 2, 4 PM — quietNov 2, 7 PM — quietNov 2, 10 PM — quietNov 3, 1 AM — quietNov 3, 4 AM — quietNov 3, 7 AM — quietNov 3, 10 AM — quietNov 3, 1 PM — quietNov 3, 4 PM — quietNov 3, 7 PM — quietNov 3, 10 PM — quietNov 4, 1 AM — quietNov 4, 4 AM — quietNov 4, 7 AM — quietNov 4, 10 AM — quietNov 4, 1 PM — quietNov 4, 4 PM — quietNov 4, 7 PM — quietNov 4, 10 PM — quietNov 5, 1 AM — quietNov 5, 4 AM — quietNov 5, 7 AM — quietNov 5, 10 AM — quietNov 5, 1 PM — quietNov 5, 4 PM — quietNov 5, 7 PM — quietNov 5, 10 PM — quietNov 6, 1 AM — quietNov 6, 4 AM — quietNov 6, 7 AM — quietNov 6, 10 AM — quietNov 6, 1 PM — quietNov 6, 4 PM — quietNov 6, 7 PM — quietNov 6, 10 PM — quietNov 7, 1 AM — quietNov 7, 4 AM — quietNov 7, 7 AM — quietNov 7, 10 AM — quietNov 7, 1 PM — quietNov 7, 4 PM — quietNov 7, 7 PM — quietNov 7, 10 PM — quietNov 8, 1 AM — quietNov 8, 4 AM — quietNov 8, 7 AM — quietNov 8, 10 AM — quietNov 8, 1 PM — quietNov 8, 4 PM — quietNov 8, 7 PM — quietNov 8, 10 PM — quietNov 9, 1 AM — quietNov 9, 4 AM — quietNov 9, 7 AM — quietNov 9, 10 AM — quietNov 9, 1 PM — quietNov 9, 4 PM — quietNov 9, 7 PM — quietNov 9, 10 PM — quietNov 10, 1 AM — quietNov 10, 4 AM — quietNov 10, 7 AM — quietNov 10, 10 AM — quietNov 10, 1 PM — quietNov 10, 4 PM — quietNov 10, 7 PM — quietNov 10, 10 PM — quietNov 11, 1 AM — quietNov 11, 4 AM — quietNov 11, 7 AM — quietNov 11, 10 AM — quietNov 11, 1 PM — quietNov 11, 4 PM — quietNov 11, 7 PM — quietNov 11, 10 PM — quietYesterday, 1 AM — quietYesterday, 4 AM — quietYesterday, 7 AM — quietYesterday, 10 AM — quietYesterday, 1 PM — quietYesterday, 4 PM — quietYesterday, 7 PM — quietYesterday, 10 PM — quietToday, 1 AM — quietToday, 4 AM — quietToday, 7 AM — quietToday, 10 AM — quietToday, 1 PM — quietToday, 4 PM — quietToday, 7 PM — quiet 1
Nov 2Nov 3Nov 4Nov 5Nov 6Nov 7Nov 8Nov 9Nov 10Nov 11yesterdaynow · 9:55 PM ET
  1. 1

    Crypto markets stabilize; prediction markets turn bearish

    By Saturday, Bitcoin had steadied at about $77,520, up 0.5% over 24 hours but down 3.3% on the week. Ethereum traded near $2,251, down 3.9% for the week, and Solana near $96, down 4.5%. Traders on Myriad prediction market flipped bearish on Ethereum and Solana, giving Ethereum a 51.3% chance of falling to $1,500 before reaching $3,000, reversing a 61.3% bullish lean from a week prior.

    “The first real test of how ETF investors would react to the largest crypto hack in history came back red.”
    — Decrypt · source
  2. background

    Binance pledges to cover losses; stablecoin issuers freeze funds — Binance pledged to cover all losses with company funds and an emergency reserve. Tether and Circle froze more than $2.3 billion in stolen stablecoins. Some Wall Street firms urged clients to buy crypto-linked stocks on the potential weakness.

  3. background

    Bitcoin falls 4% as leveraged positions liquidate — Bitcoin fell about 4% to roughly $76,400 on Friday as more than $1.3 billion in leveraged positions were liquidated. The drop is sharp but smaller than the nearly 11% plunge after a failed Binance attack in 2018.

  4. background

    Bitcoin ETFs record largest single-day outflow of October — U.S. spot Bitcoin ETFs shed $643.2 million on Friday, their biggest single-day outflow of October. The selling erased a four-day $441 million inflow run and cumulative net inflows since launch slipped to $57.4 billion. Ethereum ETFs lost $155.7 million on Friday, extending a five-day outflow streak to about $431 million.

  5. background

    Attackers drain $6.4 billion from Binance — Hackers began draining roughly $6.4 billion from Binance at 4:05 p.m. ET Thursday, after U.S. markets had closed. The theft represents the largest crypto hack in history.

Also covered reported alongside — the timeline has no entry for these yet

  1. 3 outlets Spot Bitcoin ETF Record $643M Outflows After Binance Hack Fears

    first by Coinpedia Fintech News, 12d ago · also Yahoo Finance, Decrypt

    1 more headline