A Decade Ago, a $6.3 Billion Hack Would Have Sunk Binance & BTC, Bitwise CIO Says

Bitwise CIO Matt Hougan argued that a $6.3 billion hack would have sunk Binance and Bitcoin a decade ago, but the industry's resilience has grown substantially since then. The claim, published via BeInCrypto, frames the exchange's security posture and balance sheet as strong enough to absorb a loss of that magnitude today. Hougan noted that past hacks have historically pressured Bitcoin in the short term, though markets have typically recovered. The commentary underscores how institutional-grade infrastructure and insurance mechanisms have matured across major exchanges. Market watchers should monitor Binance's proof-of-reserves disclosures and any follow-up statements from Bitwise on exchange risk.