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The Binance Hack Is Rippling Through Markets, From Stocks to Crypto

The Binance Hack Is Rippling Through Markets, From Stocks to Crypto

A massive hack of Binance is sending shockwaves through digital assets and crypto-linked stocks on Friday.

Binance, the world’s largest crypto exchange, said on Friday that a compromised engineer’s laptop may have allowed hackers to gain access to the platform. It said that $6.3 billion of assets were impacted.

The news sent crypto prices down across the board, with Bitcoin, Ethereum, Solana and BNB, the native crypto of the Binance ecosystem, all falling about 4% Friday morning. Crypto-linked stocks were also pulled down.

“The market is currently undergoing a crucial test of buyer sentiment,” said Alex Kuptsikevich, chief market analyst at FxPro. “In theory, we could see a wave of sell-offs due to…

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