DECRYPT · 2026-11-03 13:11 UTC

Morning Minute: Tom Lee Calls the Binance Hack Bullish for Ethereum

Bitcoin ETFs saw $399M in outflows Monday; BTC trading at $77.3k with $1B+ in outflows since Binance hack. Tom Lee called the $6.3B Binance hack 'constructive' for crypto, noting ETH fell only 4% compared to 8-20% after previous hacks, with no socialized losses or DeFi blow-ups. Lee's company BitMine bought $19.6M worth of ETH last week and now holds 4.9% of circulating ETH supply, nearing its stated 5% cap.

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