Binance $6.3B record hack sparks pre-election political clashes
Some political and administration figures tried to make hay of the biggest-ever crypto heist.
Soon after the $6.3 billion hack of Binance, the biggest in crypto history, some political and administration figures began offering their opinions with a US election approaching on Nov. 3 and voting already having begun in many locations.
President Donald Trump was asked at a news conference on Friday about the hack of Binance. “We don’t know. We’re looking at that, the hack with Binance. They’re saying they’re going to get it back, they’re saying they’re guaranteeing it,” he replied.
The crypto exchange said in a post on X late Friday that it would cover any losses. “We want to be clear about our commitment: Binance will absorb the financial impact of these stolen funds, not our users.” It added that about $3 billion of the stolen funds had already been frozen in various locations. On Saturday, Binance said it had already covered 90% of the impacted amount of the hacked loss.
The Commodity Futures Trading Commission then submitted a regulatory action on Sept. 18 covering crypto asset transactions and markets for White House review, as the agency moved forward with its approach to overseeing the digital asset sector.