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Seven research says Binance hack may hit market makers and quant firms, rattling SOL and altcoins

NewsFeeds update

Crypto KOL Seven research said most market makers and quant firms keep their main funds and margin accounts on Binance, so a withdrawal pause could force them to close positions elsewhere, which it said explains why Solana and many altcoins fell despite the stolen assets being Ethereum-based.

AltcoinsOdailyAIBearish

Read the original on Odaily

More Altcoins updates

  1. Cameron Winklevoss says Zcash does not need governance redesign

    AltcoinsOdailyAINeutral

  2. Binance says SAFU fund and company money will cover all losses

    AltcoinsChainCatcherAIBearish

  3. The Sandbox says SAND in users' own wallets unaffected by Binance incident

    AltcoinsPANewsAINeutral

Every Altcoins update on NewsFeeds

Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Not investment advice.