Morning Minute: Binance’s $6.4B Hack Overshadows Hyperliquid’s Biggest Day
Summary
The newsletter reports a purported $6.4 billion Binance theft spanning Ethereum, Bitcoin and Tron, with Tether and Circle freezing about $2.39 billion. Binance paused some withdrawals and said it would cover losses with more than $6.34 billion in company funds. Binance attributed the breach to a compromised DevOps engineer’s laptop; ZachXBT linked the funds to a prior exploit and suspected a North Korean hacking group. Markets fell sharply, with more than $1.33 billion in liquidations. Separately, ICE invested in Trade.xyz, which plans to launch a U.S.-regulated, 24/7 perpetual-futures venue on Hyperliquid, subject to CFTC approval. HYPE rose amid the announcement before retreating as the Binance news rattled markets.
