Binance Reserves 6.34 Billion For Hack

Binance co-CEO Richard Teng announced Friday the exchange reserved $6.34 billion to cover losses from a Thursday hack. While the exchange holds $5 billion in affected tokens, it buys the remaining $1.3 billion. Industry partners froze roughly $3 billion, including $1.57 billion in USDT and $800 million in USDC. Withdrawals are currently suspended for users.