CoinDesk
Bitcoin slipped 0.4% to around $77,900 after Binance reopened withdrawals, with customers pulling a net $3.64 billion. U.S. spot Bitcoin ETFs lost $643 million on Friday, their largest daily outflow since June, erasing four days of inflows. Binance said it has recovered around 95% of the $6.3 billion stolen, and the FBI attributed the theft to North Korea’s TraderTraitor group.
Why it matters
The exchange outflows and ETF redemptions point to pressure across both crypto-native and traditional investment channels. Binance processed $4.65 billion in withdrawals against $1.01 billion in deposits as it phased withdrawals back in. The FBI, Secret Service and IRS Criminal Investigation also urged THORChain node operators to block addresses linked to the hackers, putting the protocol’s handling of illicit funds in focus.
Market impact
THORChain’s RUNE fell 6.4%, while futures volume rose 56% over 24 hours to $111.8 billion and open interest held near $137.1 billion, a pattern indicating churn without much change in outstanding positions. Liquidations climbed 77% to $140.2 million. Bitcoin options also showed defensive demand: the three most-traded BTC options on Deribit were puts, and puts remained pricier than calls despite a cooling in skew.
Markets also face several near-term catalysts: Apple earnings, Tuesday’s U.S. midterm elections and Friday’s jobs report. Nasdaq-100 futures rose 0.8% after a 2% weekly drop, while Brent crude fell 4% to around $109.
Frequently asked questions
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How much did Binance customers withdraw after withdrawals reopened?
Binance processed $4.65 billion in withdrawals against $1.01 billion in deposits, a net outflow of $3.64 billion.
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How much of the stolen funds has Binance recovered?
Binance said it has recovered around 95% of the $6.3 billion stolen.
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What happened to U.S. spot Bitcoin ETF flows?
U.S. spot Bitcoin ETFs lost $643 million on Friday, their largest daily outflow since June, erasing four days of inflows.
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Why did THORChain’s RUNE fall?
RUNE fell 6.4% after the FBI, Secret Service and IRS Criminal Investigation urged node operators to block addresses linked to the Binance hackers.
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What did crypto derivatives activity indicate?
Futures volume rose 56% to $111.8 billion while open interest remained near $137.1 billion, indicating churn without much change in outstanding positions.
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