Key Highlights

● Strategy sank on Friday, October 30, 2026, as Bitcoin fell.

● It holds 848,517 bitcoin.

● Its chief financial officer will step down on November 5.

● A reported $6.3 billion Binance hack pushed bitcoin to a six-week low.

Shares of Strategy Inc. (NASDAQ:MSTR) sank on Friday, October 30, 2026, as bitcoin fell after Binance was reportedly hacked for about $6.3 billion. Strategy holds 848,517 bitcoin, which ties its stock closely to the cryptocurrency, and the shares fell hard as the coin retreated.

Reports differed on the size of the move during the day, with readings from multiple sources all showing a steep decline.

Separately, Strategy's chief financial officer, Andrew Kang, will step down on Nov. 5, according to market reports. No further details on the transition were available.

The Binance breach

Binance disclosed a breach on Thursday evening and confirmed on Friday that about $6.3 billion had been stolen, which would be the largest crypto theft on record. TRM Labs and Elliptic tied the attack to North Korea, according to market data. Binance blamed a compromised DevOps engineer's laptop, market reports said.

"We are committed to covering all hacked losses through our company funds," Binance co-CEO Richard Teng said. About $3 billion of the stolen funds was reportedly frozen, and withdrawals were expected to resume by Sunday.

Bitcoin traded around $76,700 to $77,600, down from about $86,000 earlier in the month. A digital-assets research head said: "I suspect the negative price action still has some way to go,"

Big paper gains, softer revenue

Strategy's recent third-quarter report showed how closely its results track the price of bitcoin. The company posted Net Income of $19.53 billion, or $44.75 a share, driven by a $20.91 billion mark-to-market gain on its bitcoin holdings. Revenue from its software Business fell to $125.4 million, short of the $129.0 million analysts expected.

The company made no bitcoin purchases in the week to Oct. 25, and it repurchased $204.9 million of its STRC preferred stock, according to the reports.

Crypto and tech sell off together

Strategy fell alongside the rest of the crypto complex. Coinbase (NASDAQ:COIN) tumbled after quarterly revenue missed estimates, Robinhood (NASDAQ:HOOD) and Circle Internet Group (NYSE:CRCL) fell, and bitcoin miners including Riot Platforms (NASDAQ:RIOT), Hut 8 (NASDAQ:HUT) and MARA Holdings slid without company-specific news.

The broader market was in retreat as well. The Nasdaq Composite fell 747.73 points to 25,437.00, its worst day since June, after Intel (NASDAQ:INTC)'s cash-burn warning set off a global chip selloff. The S&P 500 lost 140.32 points to 7,580.07 and the Dow Jones Industrial Average dropped 572.25 points to 51,770.31.

Rates added pressure. The Federal Reserve left its benchmark rate range unchanged earlier in the week, but two officials dissented in favor of a hike, and CME FedWatch data showed traders treating a December increase as likely.

What to watch

Investors will track whether Binance restores withdrawals by Sunday and how much of the stolen funds are frozen or recovered, both of which could influence bitcoin and, in turn, Strategy's shares. The company's next disclosures on bitcoin purchases will also be watched after a week without buying.

The CFO transition takes effect on Nov. 5. On the macro side, the midterm elections on Tuesday, Nov. 3, and the October jobs report on Friday, Nov. 6, will feed expectations for the Fed's December meeting.