On-chain & quant metrics, insights, risk management, education. 📺 YT: https://teapawt.net/t.co/fzmdfd42FN
Joined February 2023
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Did not have this on my bingo card
BINANCE’S CZ CLASHES WITH ELON MUSK OVER $6 BILLION HACK
Binance founder CZ asked Elon Musk to stop trolling after Musk reacted to a post comparing Binance’s assurances to FTX’s claims before its collapse.
“Elon, have a lot of respect for you, but bad time to troll. Please stop,” CZ wrote.
CZ added that Binance’s $500 million investment in Musk’s Twitter acquisition is now worth more than $1 billion.
Binance co-CEO Yi He also weighed in, saying the exchange generates enough annual revenue to cover the losses without selling its SpaceX shares.
If you get one more chance, do not screw it up. These opportunities happen in less than 1% of Bitcoin's history. The current $BTC bottom floor is $69.5K.
Lab4crypto retweeted
Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
The most expensive laptop in human history 👀
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
Lab4crypto retweeted
Update: The current verified total frozen amount is around $3 billion.
Our teams continue to work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze additional assets.
We will only share confirmed figures and will provide further updates as more verified information becomes available. User funds are safe.
Lab4crypto retweeted
User funds are safe.
Binance will cover all hacking losses.
Deposits and withdrawals are temporarily suspended while our team conducts security checks, freezes funds, and works with law enforcement.
We will share a full post-mortem once the investigation is complete. Please rely only on official Binance channels for updates.
Lab4crypto retweeted
Our teams are aware of reports regarding a potential security issue and are actively investigating.
I want to be direct: user funds remain SAFE. Our security teams are reviewing all relevant information with urgency.
🧵
Lab4crypto retweeted
BREAKING: The Federal Reserve officially pauses interest rate hikes, leaving interest rates unchanged at their October meeting.
Bitcoin dropped from $86K to $80K, pushing Supply in Profit from 75.5% to 64.6%. Fewer holders in profit could mean less selling pressure.
With the FOMC and US midterms approaching, I expect range-bound trading with occasional liquidation cascades.
My bitcoin:native bull-market thesis remains intact.
This liquidation can be a gift. I am expecting the bulls to defend the bull market support band at $76.2K
Bitcoin risk metric is dropping down to low levels (~23.3) while price holds around $83K. A solid new base is forming—setting the stage for the next leg up 📈 bitcoin:native
The #1 question I’ve been getting lately: "What price does bitcoin:native need to hit for me to go 100% all in?
"Having already deployed 65% live at $61K, my trigger for the remaining 35% is sitting right on the dynamic bottom model (red line): $69,000.
Because this RANSAC floor rises daily, that target climbs to ~$70K near midterms. Any dip down to test that dynamic floor = 100% fully deployed.
Lab4crypto retweeted
🚨JUST OUT: U.S. PPI inflation SURGES to 6.3%, significantly HIGHER than expectations.
- Headline PPI YoY: 6.3% vs. 5.4% expected and 5.4% prior
- Core PPI YoY: 5.0% vs. 4.4% expected and 4.6% prior
Producer inflation accelerated sharply, reinforcing concerns over persistent price pressures following yesterday's hotter-than-expected CPI report.
The surprise could strengthen bets on further Fed RATE HIKES, adding pressure to Bitcoin, crypto and U.S. stocks.
US Inflation Comes in Hotter Than Expected!
Headline CPI:
Actual: 3.7%
Expected: 3.6%
Previous: 3.4%
Core CPI:
Actual: 2.6%
Expected: 2.5%
Previous: 2.4%
Both headline and core inflation are accelerating and coming in above expectations.
Not what the Fed or risk markets wanted to see.
Expect increased volatility in Bitcoin and stocks.
Bitcoin whales aren't slowing down!
Since Bitcoin bottomed this summer, the number of wallets holding 100–1,000 BTC has been steadily increasing.
Consistent growth.
No signs of slowing down.
Whales keep accumulating.
While the market debates, the big players keep stacking.
Waiting for a huge bitcoin:native dump?
The structural floor price sits at $68.5K today.
History shows that waiting for the "ultimate crash" often leaves you sitting on the sidelines. Steady DCA near the bottom support historically wins out.
Are you waiting or accumulating? 👇
