#CZ Saw a few discussions about size of hack, why impact to bitcoin price is small, etc. 👇
$6.3 billion is the biggest in USD terms, but not in BTC terms. MtGox was 650,000 BTC!
Other important numbers to consider:
% of bitcoin (in relation to BTC total supply), ie, market impact. MtGox is big there again at 5%+.
Number of users impacted, and % of user assets impacted. MtGox (the largest CEX at the time) and FTX (not small) were all near 100% of users and their asseets.
Most important: Who is impacted? Does the platform cover it all? (only one victim), as in recent two CEX cases and Binance.
Obviously, still a major disaster for the industry, Binance (and me). It hurts, but we survive.
1. Buy $500 worth of Solana 2. Find 10 early memecoins with big potential 3. Put $50 into each of the coins 4. Wait for one of them to 100x 5. Cash out $500,000 profit