The impact of the Binance hack is now spreading beyond Binance: institutional investors are rushing to withdraw assets from crypto exchanges.
The facts: CoinDesk reported on Oct. 30, 2026, citing sources familiar with the situation, that institutional investors are withdrawing digital assets from centralized exchanges following the Binance hack—not just from Binance, but from exchanges in general—as they rebalance their trading books. The size of the withdrawals and where the assets are going remain unclear. The same signal came from a prominent name: Amanda He, CIO of ChainUp Singapore, told Reuters on Oct. 30, 2026, that her firm had sold all its positions on Binance and moved everything it could into safe-haven assets such as stablecoins.
My take: this is the second phase of the same crisis. The first phase was about the numbers—the impact was around $6.3 billion, about $3 billion has been frozen, and there’s still no word on the remaining roughly $3.3 billion. The second phase is about trust: when major players question the safety of holding assets on exchanges, liquidity can dry up and spreads can widen—exactly what analysts warned about regarding the liquidity impact. The price of $BTC is still hovering around $78,320 this morning after briefly touching a low of $76,527, so this bounce doesn’t prove anything yet.
What I’m watching next: the BoJ press conference at 12:30 WIB today, net withdrawal figures from major exchanges, and whether these flows really are migrating to DEXs as HashKey suggested—or just parking temporarily in stablecoins.
What do you think—will this domino effect stop at institutional withdrawals, or spread to other exchanges too?
Not financial advice—always DYOR.
#CryptoNews #Binance $BTC $ETH
The facts: CoinDesk reported on Oct. 30, 2026, citing sources familiar with the situation, that institutional investors are withdrawing digital assets from centralized exchanges following the Binance hack—not just from Binance, but from exchanges in general—as they rebalance their trading books. The size of the withdrawals and where the assets are going remain unclear. The same signal came from a prominent name: Amanda He, CIO of ChainUp Singapore, told Reuters on Oct. 30, 2026, that her firm had sold all its positions on Binance and moved everything it could into safe-haven assets such as stablecoins.
My take: this is the second phase of the same crisis. The first phase was about the numbers—the impact was around $6.3 billion, about $3 billion has been frozen, and there’s still no word on the remaining roughly $3.3 billion. The second phase is about trust: when major players question the safety of holding assets on exchanges, liquidity can dry up and spreads can widen—exactly what analysts warned about regarding the liquidity impact. The price of $BTC is still hovering around $78,320 this morning after briefly touching a low of $76,527, so this bounce doesn’t prove anything yet.
What I’m watching next: the BoJ press conference at 12:30 WIB today, net withdrawal figures from major exchanges, and whether these flows really are migrating to DEXs as HashKey suggested—or just parking temporarily in stablecoins.
What do you think—will this domino effect stop at institutional withdrawals, or spread to other exchanges too?
Not financial advice—always DYOR.
#CryptoNews #Binance $BTC $ETH