Dragonfly Partner: The Binance hacking incident is completely different from the FTX collapse, the cryptocurrency industry has matured

Dragonfly Managing Partner Haseeb Qureshi stated that after Binance experienced a hacker attack exceeding $6 billion, the market reaction was completely different from the FTX collapse back in the day.

Although the scale of funds involved in this incident is only about 25% lower than the funding gap left by FTX, the overall decline in Bitcoin and the cryptocurrency market was only a few percentage points, and market sentiment remained relatively calm, with bottom-fishing funds gradually entering the market; even with macro market pressures, capital outflows were relatively mild, and the directly affected tokens also showed some resilience.

Haseeb believes that the market has strong confidence in Binance as a company, and with various industry parties quickly collaborating and providing mutual support, there is a general expectation that Binance will be able to repurchase related assets and make up for the losses. He stated that this incident reflects the maturity and progress of the cryptocurrency industry.