Bitcoin Falls Below $79,000 as Binance Probes Security Reports

Bitcoin fell below $79,000 Thursday as Binance co-founder Yi He said the exchange was reviewing reports of a possible security issue, while Coinbase senior director Conor Grogan estimated Binance-linked outflows at up to $5.8 billion. Bitcoin's 24-hour low was $78,177.37 after 4 p.m. ET, following a high of $81,890 around midday ET. Bitcoin was $78,715 at 7:11 p.m. ET (23:11 UTC) Oct. 29. Separately, Blockaid is investigating $3.3 billion in suspicious outflows from Binance hot wallets on Ethereum, Arbitrum and Avalanche. Tether CEO Paolo Ardoino put the amount frozen by Tether at more than $1.567 billion in USDT.