Binance hack nears FTX hole in size but not in panic, Dragonfly’s Qureshi says

Qureshi said industry cooperation and confidence in Binance helped limit market fallout after the exchange's record-breaking hack. The crypto market has weathered Binance’s $6.3 billion hack with less disruption than it experienced during the FTX collapse, according to Dragonfly managing partner Haseeb Qureshi. Qureshi said in a Friday statement that crypto prices fell only a few percent after the incident, while investors continued buying the dip despite a global macroeconomic downturn. Outflows were also muted, and tokens directly affected by the hack largely maintained their value as the market expected Binance to cover the losses.