🚨 The impact of the Binance hack has reached the market — ETF outflows are accelerating.
What happened (Reuters/BBC/Yahoo):
1️⃣ Record hack: ~$6.3B — largest crypto hack in history
2️⃣ Users withdrew $3.6B (BBC) — linked to a North Korean group
3️⃣ Friday ETF outflows: $643M — led by BlackRock/Fidelity (Yahoo)
Industry impact: exchange confidence, custody practices, and institutional flows — all three are under pressure. This is a trust test for the entire market.
The same old lesson: exchange risk is one thing, asset risk another. It’s important to understand the difference. 🔐
$BTC
#Binance #CryptoSecurity #ETF
What happened (Reuters/BBC/Yahoo):
1️⃣ Record hack: ~$6.3B — largest crypto hack in history
2️⃣ Users withdrew $3.6B (BBC) — linked to a North Korean group
3️⃣ Friday ETF outflows: $643M — led by BlackRock/Fidelity (Yahoo)
Industry impact: exchange confidence, custody practices, and institutional flows — all three are under pressure. This is a trust test for the entire market.
The same old lesson: exchange risk is one thing, asset risk another. It’s important to understand the difference. 🔐
$BTC
#Binance #CryptoSecurity #ETF