Wintermute says its exposure to the Binance hack is below 20% of net equity, with CEO Evgeny Gaevoy seeing no operational disruption in any scenario. GSR puts its exposure below 5% of net equity and expects no material impact on business as usual.
Why it matters
The disclosures outline limited direct exposure at the two trading firms. GSR says it is working with contacts at Binance to understand the issue. Ethena says collateral with exchange exposure is held by off-exchange custodians.
Market impact
Lido says stETH is unaffected, staking and withdrawals are operating normally, and Lido Earn has no direct exposure. Aave says its contracts are unaffected and positions remain overcollateralized, but has frozen all DAO-operated V3 and V4 markets as a precaution. New deposits and borrowing are paused; withdrawals and repayments remain available.
Frequently asked questions
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How much exposure to the Binance hack did Wintermute and GSR report?
Wintermute said exposure is below 20% of net equity. GSR put its exposure below 5% of net equity.
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What action did Aave take after the Binance hack?
Aave froze all DAO-operated V3 and V4 markets as a precaution. New deposits and borrowing are paused.
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Can Aave users still withdraw and repay?
Yes. Aave says withdrawals and repayments remain available despite the pause on new deposits and borrowing.
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Did the incident affect Lido's stETH or staking operations?
Lido says stETH is unaffected and staking and withdrawals are operating normally. Lido Earn has no direct exposure.
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How does Ethena hold collateral with exchange exposure?
Ethena says all collateral with exchange exposure is held by off-exchange custodians, rather than directly on exchanges.
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