IBIT is trading at $43.12 (-5.78%) as Binance’s reported security incident weighed on crypto assets.
- Binance estimated the incident’s impact at $6.3 billion, suspended withdrawals, and said it would cover losses.
- Bitcoin fell to a six-week low, intensifying exchange-safety concerns and selling across digital assets.
- Wider risk-off trading, including weakness in technology shares, may have added pressure; Binance was the clearest crypto-specific catalyst.