Binance bleeds $6B after record hack

Billions flow out of Binance after its record hack, and Bitcoin ETFs just gave back almost their entire year. This is CoinDesk Daily. Want trusted crypto research? Check out the Stack. Grayscale's blog. Visit grayscale.com slash the Stack. More than $6 billion in tokens left Binance-linked wallets in the 24 hours after the exchange reopened withdrawals following last week's record hack. That's about 3.6% of the $171 billion Binance held before the attack. DeFi Llama still tracks roughly $129 billion sitting in those Binance says it's already replenished roughly 95% of the assets stolen on October 29. U.S. spot Bitcoin ETFs just shed $643 million in a single day, the biggest outflow since June, and enough to wipe out 63.6% of their entire year-to-date inflows. BlackRock's iBit led the exodus with $234 million out, followed by Fidelity's FBTC at $201 million. Analysts Tie the rush to the exits directly to the Binance hack. Derives Nick Forrester said traditional investors moved fast to protect against further losses. And the crypto industry has staked most of its midterm money on Republicans. Fair shake, the sector's biggest super PAC has spent $154 million this cycle and still has a $56 million war chest. Its single largest effort, nearly $56 million to defeat Democrat Sherrod Brown in Ohio. Open Secrets data shows crypto is now outspending every other industry But betting markets give Democrats a more than 70% chance of taking both chambers. Get more updates on CoinDesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack.