DonAlt Compares Binance Breach Reaction With FTX’s Aftermath

Crypto trader DonAlt said limited selling after Binance’s Oct. 29 security breach recalled market behavior after FTX’s 2022 collapse, which he viewed as a bullish signal. “Hard to be bearish here after having been given the same setup yet again,” DonAlt wrote on X. Binance said its hot wallets were compromised at about 4:05 p.m. ET Oct. 29 (20:05 UTC), with an estimated loss of about $6.3 billion in token assets. The exchange’s initial estimate of the loss was about $6.3 billion.