Bitcoin is below $77,000 and $BNB is sliding after a Binance hack. The venue is the risk again: crypto exposure gets marked down when the exchange itself is the problem.

What happened: Bitcoin fell below $77,000 and BNB dropped after a hack at Binance. Binance Co-CEO Yi He said the exchange will cover all user losses from the incident. Key numbers: Bitcoin below $77,000. BNB down 7.1%. Why it matters: The pledge to cover user losses signals the exchange's response to the hack, while BNB's 7.1% decline reflects the market reaction. Coverage: 3 outlets in 24h

Bitcoin fell below $77,000 and BNB dropped after a hack at Binance. Binance Co-CEO Yi He said the exchange will cover all user losses from the incident.

The pledge to cover user losses signals the exchange's response to the hack, while BNB's 7.1% decline reflects the market reaction.