Key Highlights

  • A reported theft of about USD 6.3 billion to USD 6.36 billion at Binance began around 8:05 p.m. UTC on October 29, 2026, with USD 2.54 billion to USD 2.7 billion frozen depending on the timestamp, according to private analytics firms and Binance.
  • Bitcoin (BTC) traded between USD 77,225 and USD 77,523 in Friday premarket, about 39.8% below its USD 128,198 record of October 6, 2025, simple arithmetic on two prices, while Ether fell to about USD 2,239.
  • Coinbase (NASDAQ:COIN) reported Q3 EPS of USD 2.51 against a forecast loss of USD 0.26 yet fell about 5% in Friday premarket, with one page showing 4.7%, as spot trading Volume fell 10% from the prior quarter.
  • Strategy (NASDAQ:MSTR) fell about 6.1% in Friday premarket on one page, while another page said Circle, Coinbase, Robinhood and Strategy each lost more than 6%, so the exact move depends on the page and the time.

Bitcoin (BTC): Reported record-size theft and the price

Blockchain analytics firm TRM Labs puts the theft at about USD 6.36 billion across ten blockchains, with other figures citing USD 6.3 billion. Activity began around 8:05 p.m. UTC on October 29, 2026. TRM Labs attributes it with high confidence to North Korea's TraderTraitor unit, the same group the FBI linked to the Bybit hack. That attribution comes from private analytics firms, TRM Labs and Elliptic, not from law enforcement. Binance said it will cover all losses and that deposits were unaffected, with withdrawals expected to resume within 48 hours. Binance has not published a root cause, so the method of the breach remains unknown. About USD 2.7 billion has been frozen, and Binance said USD 2.54 billion was verified at 11:35 p.m. UTC, so the number depends on timing. The attacker is said to hold roughly USD 2.4 billion. Bitcoin (BTC) traded between USD 77,225 and USD 77,523, about 39.8% below its record of USD 128,198 from October 6, 2025, simple arithmetic on two prices. Ether fell to about USD 2,239. Crypto-linked equities also fell: Coinbase (NASDAQ:COIN) was down about 4.7% on one page. Strategy (NASDAQ:MSTR) fell about 6.1% there, while another page said Circle, Coinbase, Robinhood and Strategy each lost more than 6%. The third is regulatory attention after the largest crypto theft on record, a description reported rather than independently confirmed. Bitcoin (BTC) already trades well below its peak, so exchange-security headlines land on a market with limited cushion. Robinhood (NASDAQ:HOOD) and other crypto-linked names are also in focus.

Coinbase (NASDAQ:COIN): Beat that did not hold

Coinbase (NASDAQ:COIN) reported third quarter results after the close on October 29, 2026. Earnings Per Share came in at USD 2.51 against a forecast loss of USD 0.26. Revenue was about USD 1.2 billion, in line with expectations. The stock reached USD 157.10 after hours, down 2.17% on one transcript page, then fell about 5% in Friday premarket, with one page showing 4.7%. The slide deepened because news of a reported USD 6.3 billion theft at Binance reached markets overnight. Bitcoin (BTC) traded near USD 77,200, and crypto-linked stocks fell 5% to 6% or more in premarket. Premarket moves are snapshots and can change at the 9:30 a.m. ET open. The earnings headline appears to rest mostly on balance-sheet crypto gains, as one analysis headline put it, which we could not confirm in the company filing. Under Fair Value accounting, a rise in the price of held digital Assets flows through net income, and a fall reverses it. The operating signal was weaker: spot trading volume fell 10% from the prior quarter, and trading fees are the core revenue driver at Coinbase (NASDAQ:COIN). The company bought its 18,000th bitcoin, which raises that exposure. Prediction markets passed a USD 200 million annualized revenue run rate, a new line still small against total revenue. Bitcoin (BTC) near USD 77,200 sits about 40% below its record of USD 128,198 set on October 6, 2025, simple arithmetic on two published numbers. A lower price can erase balance-sheet gains in the next quarter and cool trading activity. The Binance event adds uncertainty: attribution to North Korea comes from private analytics firms, not law enforcement, and no root cause has been published. Binance said withdrawals should resume within 48 hours.

Strategy (NASDAQ:MSTR): Crypto-linked Equity under pressure

Strategy (NASDAQ:MSTR) fell about 6.1% in Friday premarket on October 30, 2026 on one page. Another page said Circle, Coinbase, Robinhood and Strategy each lost more than 6%, so the exact move depends on the page and the snapshot time. The move followed the reported theft of about USD 6.3 billion at Binance, which pushed Bitcoin to about USD 77,200 to USD 77,500 in the same session. Strategy is grouped with crypto-linked names in those accounts, and the likely common driver is the Bitcoin price, which is our inference and not a statement from the company. No Strategy results, holdings figures or analyst changes were retrieved, so none are cited. Premarket quotes are snapshots and can change at the 9:30 a.m. ET open. The next dated items are that open, the Binance root-cause statement and the restart of withdrawals, which Binance said should come within 48 hours. Readers comparing crypto-linked equities should note that the Coinbase fall of about 4.7% to 5% and the Strategy fall of about 6.1% come from different pages and different capture times, so they are not a like-for-like ranking. Any recovery or further decline will depend on whether the stolen funds are frozen, moved or recovered.

Where Things Stand

The answer is that the hack dented confidence in large exchanges and hit crypto-linked shares through the Bitcoin price. Bitcoin (BTC) slipped to the mid USD 77,000 range, Coinbase fell about 5% despite an EPS beat, and Strategy (NASDAQ:MSTR) fell about 6.1% on one page. The theft amount, the frozen sum and the North Korea attribution come from private firms, not authorities. Binance says it will cover losses and restart withdrawals within 48 hours. Those two promises are the next tests. This is not Investment advice.