🔥 Binance set aside $6.34B for a $6.3B hack, and $BTC and $BNB are already 100% backed In two days, Binance replaced 90% of the assets taken from its hot wallets, up from 80% the day before, and the top 10 tokens, including BTC, ETH, USDT, BNB, SOL, USDC and XRP, are back to full backing. Users aren’t taking the loss. Binance says it’s absorbing it, using corporate treasury, a partial draw on SAFU and part of its futures insurance fund. The response around it matters too. About $3B is frozen after Tether, Circle, Ripple, World Liberty and Paxos moved fast. Binance.US wasn’t affected, deposits kept running, the FBI and Secret Service are involved, and withdrawals are set to restart in phases on Sunday. Context helps: the theft is about 4% of the $144B on the platform, and Fundstrat says it doesn’t look like a solvency event. In 2019, SAFU covered a 7,000 BTC hack and withdrawals resumed in about a week. Inside-job theories on X are unverified, while TRM and Chainalysis attribute the attack to North Korea’s TraderTraitor. The full proof of reserves lands in the next few days, so anyone can check the numbers. My read; Painful, but so far this is how a crisis response should look. The proof is the next test. #BTC Price Analysis# #Binance #Macro Insights#