The Binance hack, which resulted in 6.3 billion dollars in missing assets from an exposure of about 144 billion dollars, triggered withdrawals extending beyond the attacked platform. Wintermute and GSR say they reduced their exposure to Binance to less than 20% and less than 5% of their equity, respectively. Standard Chartered expects trading volumes to shift further toward decentralized exchanges, particularly Uniswap and Hyperliquid, without an immediate change in where assets are custodyed. The bank maintains its 100-dollar target for UNI in 2030, while HYPE gained 16% and bitcoin fell below 77,000 dollars. This migration carries risks: decentralized protocols lost 2.81 billion dollars in 2026, and Binance suspended withdrawals for 48 hours.
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