News
Crypto market rattled by Binance $6.3B exploit and broader macro pressures
A record $6.3 billion exploit at Binance wiped out long positions, drove Bitcoin below $77,000 and triggered $1.55 billion in liquidations. Binance froze $3 billion of stolen assets and plans to resume withdrawals on Sunday. The Federal Reserve kept rates at 3.75‑4%, while US midterm elections and the October jobs report loom as near‑term catalysts. AI‑related equities fell sharply, adding risk‑off pressure to crypto. Hyperliquid secured endorsements from Ripple, Pump.fun, Kraken’s parent and the NYSE owner, though the impact on its token remains unclear. The outlook suggests defensive range trading between $75k‑$80k pending exchange confidence and macro outcomes.