Morning Minute: Tom Lee Calls the Binance Hack Bullish for Ethereum

GM!

Today’s top news:

• Crypto majors fall further as outflows continue; BTC at $77.3k
• BTC ETFs see another $400M in outflows, now $1B+ since Binance hack
• Kim Jong Un’s sister says NK not involved in Binance hack and calls allegations a “provocation”
• Tom Lee calls Binance hack “constructive,” points to no socialized losses & no DeFi blow-ups
• Strategy buys $65M of BTC last week and $208M of STRC

$81.8k$80.0k$78.3k$76.6k

24h HighHigh$78,120

24h LowLow$76,303

VolVol$1.1B

🐂 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. Lee called that “relatively muted crypto market reaction very constructive” and read it as proof the industry can take a hit this size without cracking.