BUSINESS TIMES SG · 2026-10-30 12:36 UTC

Bitcoin drops below US$77,000 as Binance hack shakes crypto

Bitcoin dropped 3.1% to US$76,300, falling below US$77,000 for the first time in over a month following Binance's disclosure of a record US$6 billion hack. The breach is the largest crypto theft on record; Binance's BNB token declined 5% to around US$700, and the exchange reserved US$6.34 billion in company funds to cover losses. The crypto market was already under bearish pressure from macro headwinds and a US$11 billion options expiry on Deribit, with US$1.3 billion in bullish positions liquidated in 24 hours.

Loading the story on Tree News…