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Crypto market sees Binance hack, withdrawal pause and major ETF outflows
Binance holds $5 billion in affected tokens and announced a $6.34 billion replacement plan backed by Michael Saylor, with $3 billion separately protected. Bitcoin traded near $77,000 after a reported $6.3 billion Binance hack triggered $643 million outflows from U.S. spot Bitcoin ETFs, while Ether ETFs lost $155.7 million. Binance paused withdrawals for a security upgrade, keeping deposits and trading active and expecting services to resume within 48 hours. Tether posted Q3 profit of $1.5 billion, excess reserves of $8 billion, and Bitcoin holdings valued at $8.37 billion. OpenAI cut its funding target to $20 billion and valuation to $1.25 trillion, and Intel shares fell nearly 29% after weak PC‑market guidance.