DWF Labs: Binance Hack Shows No Broad Contagion, 24h Net Outflow Falls to $458M

Cointime reports: DWF Labs market insights head Martin Lee said the Binance hack appears to have produced no broad contagion because the exchange can absorb the losses on its own balance sheet, with investor attention shifting to the US midterm elections. DefiLlama data showed Binance’s net outflow over the prior 24 hours at $458 million, down from $6.1 billion on November 2 after withdrawals resumed. Bitfinex analysts said most of the hack’s impact appears priced in, and whether bitcoin confirms a bottom depends on US CPI data due November 10.