Dragonfly's Haseeb Qureshi Says Markets Steady After Binance's $6B Hack

Crypto markets fell only a few percentage points after the Binance hack, while outflows remained limited, Haseeb Qureshi, managing partner at Dragonfly, said. Qureshi put the losses at slightly more than $6 billion, about 25% below FTX's funding shortfall in dollar terms. He described the market response as far calmer than the reaction after FTX. Some investors bought the dip, Qureshi said, and prices of altcoins directly affected by the incident held mostly steady. He said that stability reflected the market's expectation that Binance would repurchase every affected asset.