Felix Fan supports Binance and calls it a robust exchange.

Binance stated that the $3.34 billion shortfall caused by the hack has been covered by its own funds. Some cryptocurrency needs to be purchased through OTC. Prior to the hack, Binance had a surplus of 17,430 Bitcoins, so the actual shortfall was only 1,000 BTC, with no substantial impact. (Bitcoin Archive)

Binance CEO He Yi stated that Binance is completing its proof-of-reserve process by purchasing altcoins matching the stolen assets through OTC and exchange-traded transactions. This involves 233.46 million XRP (US$233.46 million), 970,500 SOL (US$96 million), and 46.4 million TRX (US$16 million). The hackers dumped UNI, ENA, PEPE, LINK, AAVE, ONDO, and WLD for 70,480 ETH, totaling US$158.25 million. UNI, ENA, PEPE, and LINK were dumped for US$39.63 million, US$33.93 million, US$31.66 million, and US$26.05 million respectively.

[Hashib Qureshi: Market Reaction After Binance Hack Calm Compared to FTX Incident, Industry Has Matured] Dragonfly Managing Partner Hashib Qureshi stated that the market reaction to the Binance hack differed from that of the FTX incident. The market only dropped a few percentage points, sentiment was calm, and bargain hunters continued to pour in. Although the losses from the theft were slightly over $6 billion, only about 25% less than the FTX funding gap, the market has a high opinion of Binance's business reputation, and the industry is cooperating with each other, reflecting that the industry has matured.

Fireblocks CEO Michael Shaulov stated at the Meridian 2026 event in StellarOrg that traditional banks need more industry talent to provide assistance when trying to tokenize assets.

CryptoQuant data shows that Coinbase Premium has fallen to its lowest point in four years, the first time since the FTX crash in November 2022. (Source: CryptoQuant)