Yahoo Finance Executive Editor Brian Sozzi recaps the day's top stories, including why Palantir (PLTR) is not escaping the AI rout, why Disney (DIS) is poised to cut jobs, and how Apple's (AAPL) earnings turned into a dull day for John Ternus and company. He also interviews Binance CEO and founder Changpeng Zhao about roughly $6.3 billion in digital assets drained from Binance on Oct. 29 due to a hack.
Summary written by Upside AI from the original article. Read the source for full details.
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Keywords
BinancecryptocybersecurityPalantirQQQ
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
BNB/USDT
▼ Likely negativeBNB
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $92.9B |
| Close on 11/02/2026 | 699.25 |
| Change that session | -1.89% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Binance's $6.3 billion hack began with a fake job interview, exchange says
- Binance Just Got Hacked for $6.3 Billion. Is Its Coin Still a Buy?
Hackers stole an estimated $6.3 billion from the Binance exchange on the evening of October 29, the biggest hack in crypto history. Binance has promised to cover all customer losses and set aside $6.3 billion, while its partners froze at least $3 billion of the stolen funds, and a reserve snapshot on October 31 showed assets fully backed again. BNB fell nearly 7% in the 24 hours after the breach but is still up 212% over three years. The author argues the hack did not directly affect BNB's supply or blockchain, so its value rests on trust in Binance, and fee activity has not grown, with $2.9 million in fees in the last week of October this year versus $3.1 million in the same week of 2023. The author concludes there is no strong investment case for BNB before or after the hack, even if its price could be much higher in three years.
- CZ warns of more AI-driven hacks following Binance’s historic $6.4 billion heist
- Morning Minute: Tom Lee Calls the Binance Hack Bullish for Ethereum
Tom Lee, head of BitMine Immersion, called the market's reaction to the $6.3 billion Binance hack, the largest crypto theft on record, “constructive.” He cited four factors: Binance covered the loss from its own balance sheet, Tether and Circle froze the stolen stablecoins within hours, no DeFi protocol collapsed, and investigators quickly attributed the attack to North Korea. ETH fell about 4% after the hack, compared with an 8% drop on day one and 20% over the following week after the February 2025 Bybit hack. BitMine holds 6,060,506 ETH, or 4.9% of circulating supply, and is 99% of the way to its 5% cap, about 49,500 ETH short. With this large weekly corporate buyer nearly finished, the article asks what ETH demand will look like without it.
- Binance net outflows reach $5.3 billion after record hack. CEO says recovery underway
- Binance Misses Monthly Luna Classic Burn for First Time Since 2023
Binance has burned a share of its Luna Classic (LUNC) trading fees nearly every month since March 2023, but according to StatsBin data, the November burn has yet to occur. Some investors link the delay to the record $6.3 billion hack of Binance, which the FBI attributes to North Korea’s TraderTraitor. A prominent community member says Binance is moving LUNC to a more secure wallet before resuming burns, though Binance has not confirmed this or responded to a request for comment. LUNC has dropped 7.9% over the past week to $0.0000417, down 99.99% from its all-time high of $119.18. Binance previously paused burns at the end of 2022, after the Terra Classic community voted to re-mint burned tokens.
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- Until Next Gen Computing Implodes I’ll Keep Buying Taiwan Semiconductor
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- Why Intel Stock Collapsed 23.4% Last Month
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