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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/29/2026 | 698.46 |
| Change that session | -8.08% |
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Binance Sets Aside $6.34B to Cover Hack Losses, CEO Says 'Your Assets Are Safe'
CEO Richard Teng said Binance will cover all hacked losses with company funds, having reserved over $6.34 billion, of which $5 billion is already held in the exact tokens stolen, with the rest being bought through market and OTC channels. The hack hit Binance's hot wallet, and Teng said customer funds were not touched. He said the attacker used a self-destruct mechanism to wipe tools and traces, and an EIP-7702 delegation that bypassed Binance's normal approval controls; TRM Labs and Chainalysis have attributed the theft to North Korean group TraderTraitor. Binance aims to restore withdrawals by Sunday and publish a full proof of reserves by Monday. On Friday, a Tron wallet that Arkham links to the attacker sent about 5.19 million TRX, worth roughly $1.73 million, to 12 addresses.
- Here's how big bitcoin traders responded after the Binance hack hit
- Binance Attack: Warning on Risks in Digital Asset Governance
Binance suffered an October 30 attack causing losses estimated in the billions of USD. According to the Vietnam Blockchain and Digital Asset Association (VBA), the attacker used EIP-7702, a feature in Ethereum's Pectra upgrade from May 2025 that lets a regular wallet temporarily run smart contract code, though activation still requires the private key's signature. ChainTracer on-chain data showed Binance 14 was authorized through EIP-7702, Binance 16 made transfers signed with its own private key, and Hot Wallet 34 was indirectly controlled via Binance 14. Tether froze over 1.5 billion USDT and Circle froze 823 million USDC. VBA's chairman stressed that exchange security depends on key governance and signing controls, including multi-party signing and real-time on-chain monitoring.
- 'Bad time to troll': Binance cofounder Changpeng Zhao asks Elon Musk for 'respect' after post about bitcoin hack
Binance co-founder and former CEO Changpeng Zhao asked Elon Musk to stop “trolling” and “show some support” after Musk posted a series of mocking emojis upon learning of the $6.3 billion hack on the exchange. Zhao noted that Binance's SpaceX stake, from its $500 million investment in Musk's Twitter takeover, is worth more than $1 billion, a tiny fraction of SpaceX's roughly $2 trillion valuation. Binance froze all withdrawals and deposits after the hack, which investigators suspect was carried out by North Korean hacking unit TraderTraitor, and has since restored deposits. Around $3 billion in cryptocurrency assets has been frozen so far.
- THORChain’s RUNE jumps 13% after Binance’s record $6.3B hack
RUNE rose more than 13% to $0.67 from a local low of $0.59 at 12:20 a.m. UTC, according to TradingView data, after Binance confirmed the $6.3 billion hack. Onchain investigator ZachXBT said funds stolen from Binance and Bitget's September hack passed through THORChain and were combined at the same Ethereum address, and that the Bitget attack was attributed to North Korea-linked TraderTraitor. TRM Labs and Chainalysis also linked the Binance hack to the group. North Korean hackers had previously used THORChain to launder funds from the $1.4 billion Bybit hack and the $388 million Bitget hack. THORChain rejected Bitget CEO Gracy Chen's call to block the attacker's addresses, saying it cannot block individual swaps, though node operators can pause trading across a blockchain or the network. Validator TCB threatened to leave unless the protocol stopped processing North Korea-linked funds.
- Here’s when Binance plans to reopen after what’s believed to be the largest-ever $6.3 billion hack
Binance has pledged to restore exchange operations within a couple of days after a record $6.3 billion heist, believed to be the largest ever. The hack has rattled the industry and investors.
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Latest news
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StockStory's article picks two megacap stocks with attractive long-term potential and flags one to be cautious about. Walmart (WMT), with a $962 billion market cap, is described as having revenue growth of 5.3% a year over the past three years, lagging other consumer retail companies, and a 24.9% gross margin that depends on higher volumes, along with weak operating margins. Its shares trade at $123.24, or 39.5x forward P/E. Microsoft (MSFT), with a $3.94 trillion market cap, is cited for top-tier gross margins, improving profit margins and strong free cash flow, and trades at $529.25 per share, or 25.6x forward P/E. The article also lists AMD (AMD) with a $924.7 billion market cap, with no further details about the stock in the text.
- META, AMZN, ORCL, GOOGL in focus: Big Tech bonds offer better opportunity than stocks, BofA says
BofA chief investment strategist Michael Hartnett says investment-grade bonds from mega-cap tech firms offer better value than their stocks. Borrowing costs have risen amid concern over heavy capital expenditures by hyperscalers such as Meta, Google, Amazon and Oracle to build generative AI infrastructure. Yields on investment-grade tech debt range from 6% to 8%, with Oracle above 8% and Meta and Amazon at 6.8% to 7.4%. Meta is raising $95 billion through stock offerings, which Hartnett says is negative for existing shareholders and suggests the era of large buybacks may be ending. Year to date, META is down 6%, GOOGL about 10%, AMZN up 3% and ORCL about 33%.
- Why bitcoin held up better after the record Binance hack
Binance suffered the biggest hack in crypto history, with about $6.3 billion affected, and security firm TRM Labs linked the incident to North Korea. Bitcoin dipped to $77,065 at 1:34 p.m. ET on Friday, down about 4% on the day, while data from Anchorage Digital showed bitcoin fell 8.3% on average in the first 24 hours after past exchange exploits. Sam Callahan of OranjeBTC and Spencer Hallarn of GSR said the breach was a security failure at a centralized exchange, not a failure of the bitcoin network, and that bitcoin has moved in step with other risk assets amid concerns over AI-related earnings. David Lawant of Anchorage Digital noted that only 6% of bitcoin is held in ETFs, suggesting many holders take a longer-term view.
- Secret Service, FBI Join Binance Hack Probe as Circle Freezes $823 Million
Binance is working with the FBI and U.S. Secret Service after hackers stole $6.4 billion from the exchange, according to Reuters. Circle froze about $823 million in USDC linked to the attack, while Tether froze $975.1 million in USDT according to the article's summary, though the detailed section cites about $1.5 billion. Blockchain firms TRM Labs and Chainalysis attributed the theft to TraderTraitor, a North Korea-linked group also tied to the $1.5 billion Bybit hack. CEO Richard Teng said Binance has reserved more than $6.34 billion to cover the stolen assets, with about $3 billion already located or frozen, and withdrawals remain suspended with a resumption targeted for Sunday.
- Coinbase leads crypto stock selloff following $6.3B Binance hack
Shares of crypto-linked companies fell sharply on Friday, with Coinbase down more than 13% a day after reporting a drop in third-quarter revenue. Circle fell more than 9%, Strategy about 8%, IREN more than 10% and Figure Technology Solutions about 9%, according to Yahoo Finance data at the time of writing. Coinbase posted $719 million in net income, boosted by about $715 million in gains on crypto investments, though net revenue fell about 34% year over year to $1.16 billion. Strategy reported $19.53 billion in net income, driven by a $20.91 billion gain on its Bitcoin holdings, while revenue fell 3% to $125.4 million, and CFO Andrew Kang will step down on Nov. 5.
- Why XRP Is Sinking Today
XRP fell 4.2% in the 24 hours to 1:23 p.m. ET on Friday, Oct. 30, as the $6.3 billion Binance hack rattled the industry, while the S&P 500 and Nasdaq Composite were down 1.8% and 3.1%. Hackers drained Binance hot wallets holding 10 cryptocurrencies, and Arkham said the first $300 million to leave was XRP. Ripple helped freeze about $200 million of its RLUSD stablecoin but cannot do the same for XRP, the native token of the XRP Ledger. The author argues that RLUSD is more attractive than XRP to banks and financial institutions that prioritize stability and security.
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