bitcoin
Morning Minute: Tom Lee Calls the Binance Hack Bullish for Ethereum
At the same time, both the BTC ETFs and ETH ETFs bleed outflows in the Binance hack aftermath, dragging down prices.
Image: André Beganski/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.
And check out our daily news show 'FOMO HOUR' covering all of the top stories and market action. Oct 27Oct 29Oct 31Nov 1Nov 3$81.8k$80.0k$78.3k$76.6k24h HighHigh$78,12024h LowLow$76,303VolVol$1.1B→Buy Bitcoin with USDCPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →🐂 Tom Lee Calls the Binance Hack Bullish for Ethereum Tom Lee looked at the largest crypto theft ever recorded and called the market’s response “constructive”.
His company, BitMine Immersion, bought another 8,573 ETH last week, roughly $19.6 million worth, lifting the treasury to 6,060,506 ETH and about $13.7 billion. That’s 4.9% of the total circulating ETH supply, which makes Lee the most ETH-exposed executive on the planet.
His case comes down to one comparison. ETH fell about 4% after the $6.3 billion Binance hack. After the Bybit hack in February 2025, it dropped 8% on day one and 20% over the following week.
