Hacking News
Binance Hack Sends Crypto Fear and Greed Index Crashing to 30
The Fear and Greed Index fell to 30 points after the October 29 Binance hack, which resulted in $6.3 billion in losses. Analyst Axel Adler Jr. noted that market sentiment was already declining prior to the attack, with the index dropping from 68 to 51 points in a week. The Binance hack is the largest in cryptocurrency history, prompting concerns about future security breaches and a potential shift of users towards larger, more regulated exchanges or self-custody options.