NEW YORK TIMES · 2026-10-30 14:25 UTC

Binance Hack Sends Crypto Stocks Tumbling

Binance suffered a $6.3 billion theft, the largest cryptocurrency exchange hack ever reported. Crypto-related stocks fell sharply: Coinbase down 12%, MicroStrategy down 10%, Robinhood down 8%; Bitcoin dropped nearly 5% to $76,800. Analyst Jeff Ko believes Binance can absorb the loss and doesn't expect significant additional selling pressure from the stolen Bitcoin.

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